NAI Arranges Austin Lease Renewal
- Jan 10, 2018
NAI Partners has brokered a lease renewal at Northpoint Center, a two-building office campus totaling 151,126 square feet in Austin, Texas. CapStar Lending LLC renewed its contract for a 9,654-square-foot space at Northpoint Center I.
Located at 6836 Austin Center Blvd., Northpoint Center I was completed in 1984 and encompasses 76,794 square feet. According to Yardi Matrix, the entire office campus underwent cosmetic renovations in 2005. The current owner, Intercontinental Real Estate Corp., acquired the office park in 2008 from Spectrum Investments.
Centrally located in Northwest Austin, Northpoint Center sits on a 9.5-acre parcel and provides tenants with ample parking. The complex is within walking distance of several restaurants and commercial amenities.
Wells Fargo Bank originated the current $19.4 million loan on the property in 2008. In September 2017, Intercontinental expanded its Austin portfolio through the acquisition of 5th & Colorado, a newly constructed Class A+ office tower in the city’s central business district.
NAI Partners Senior Vice President David Stojanik represented the tenant in the lease negotiations. Capstar Lending LLC is an Austin-based mortgage lender offering home refinance loans, residential mortgages as well as FHA, VA and jumbo loans.
Image courtesy of NAI Partners