AUSTIN-Capital Commercial Inc. acquired a 241,564-square-foot light industrial property from Calcasieu Real Estate Holdings. With the dust settled on the transaction, the local buyer is in possession of a property triple-net leased by single tenant Stock Building Supply.
“This transaction represented the second closing we helped facilitate for Calcasieu Real Estate Holdings on Stock Lumber Supply properties,” explains Walter Saad with CBRE in a press release. “The sellers were concerned about the possible implementation of an increase in the Capital Gains tax, and the buyer was willing to expedite the transaction and close before yearend 2012.”
Saad partnered with CBRE’s Cathy Nabours and Greg Marberry to represent the seller in selling the property at 4501 Burleson Rd. The Travis Central Appraisal District assesses the property for $5.8 million.
“Home builders in Central Texas are active, a positive sign for Stock Building Supply,” Nabours adds in the same release. “Capital Commercial Investments will benefit as the property continues to increase in value because of the long-term occupancy of Stock, the great visibility from US Highway 71 and the location near the airport.”
The 129-year-old, family-owned Calcasieu Lumber Co. established itself in southeast Austin in 1983, where it expanded the lumberyard, showroom, and offices. Today, the asset is located in Austin’s southeast submarket, near the intersection of Interstate 35 and SH 71/East Ben White Boulevard. The various structures — an office building, two manufacturing warehouses, and three bulk warehouses — make up the 241,564 square feet on the 30.4 acres and were constructed between 1970 and 1993.