En­deavor part of deal for Lake Austin site

Austin American-Statesman - - BUSINESS -

Austin-based En­deavor Real Es­tate Group and Dal­las-based Gran­ite Prop­er­ties have pur­chased 5000 Plaza on the Lake for an undis­closed price. En­deavor and Gran­ite bought the build­ing from a part­ner­ship con­trolled by Aspen Growth Prop­er­ties.

The 119,000-square-foot build­ing, which is near the Loop 360 bridge and over­looks Lake Austin, is 93 per­cent leased, said Chad Marsh, a man­ag­ing prin­ci­pal at En­deavor who han­dled the ac­qui­si­tion for the firm.

“Aspen’s stew­ard­ship, their re­ten­tion of an ex­cel­lent ten­ant base and their suc­cess in keep­ing the build­ing and its com­mon ar­eas in prime con­di­tion were all pluses in our de­ci­sion to ac­quire the build­ing,” Marsh said.

With the ac­qui­si­tion, En­deavor leases and man­ages about 5 mil­lion square feet of of­fice, in­dus­trial and re­tail space in the Austin area.

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