AUSTIN – EastGroup Properties acquired the Centerpoint @ Colorado Crossing, a 265,099-square-foot, four-building industrial complex in east Austin.
The transaction was announced by CBRE. The Class A development was constructed in 2009 and is 100 percent leased. The four buildings are made up of an average of 24 prcent office and 76 percent light industrial.
Centerpoint @ Colorado Crossing is located on Burleson Road in the East Austin submarket, with access to State Highway 71.
The CBRE marketing team included Jack Fraker, Todd Mills, Josh McArtor, Greg Marberry, Hunter Mills, Jonathan Bryan, and Heather McClain Venegoni. The seller is an undisclosed Boston-based pension fund.
The buyer, EastGroup, is an industrial REIT based in Jackson, Miss. with a 35 million-sf portfolio. David Hoster is EastGroup’s President and CEO.