The acquisition, positioned on 8.3 acres at 4601 South FirstSt., its predominately leased to the Texas Department of Health andHuman Services and the Texas Department of Public Safety. AmericusII acquired the 95%-leased asset in an off-market deal with AbileneInterests LP, led by Ken Musgrave of Abilene. Local sources say thebuilding probably sold for roughly $5 million. But in keeping withTexas' non-disclosure status, the purchase price isn't beingreleased.
Ernest Johnson, executive vice president for locally based PMRealty, says the 1950s building is in great shape following a 2002renovation. He adds that there is some room for further developmenton the land, but nothing specific is planned.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
