Thor Equities Group, a global leader in urban real estate development, leasing and management, today announced the sale of 5202 Ben White Boulevard in Austin for $71.5M.
Located within the Southeast Austin submarket, 5202 Ben White Boulevard is located near the new Oracle Austin headquarters, and 3 miles from the Austin CBD. The asset spans nearly 250,000 square feet that was redeveloped with modern amenities in 2018, and is 100% leased to the City of Austin and the Mexican Consulate.
“The sale of this asset demonstrates the demand for space in Austin remains strong as the city continues to benefit from strong tech leasing momentum,” said Chairman and CEO of Thor Equities Group, Joe Sitt. “Austin’s submarkets are among the most active in the Americas across all sectors, and we look forward to uncovering new opportunities and investing further in the thriving city.”
Thor’s recent notable activity in Texas includes the sale of two Class-A logistics assets and the sale of a 1 million-square-foot ground-up luxury development in Houston, in 2022.
Thor Equities Chairman and CEO, Joe Sitt, recently spoke on Bloomberg’s Wall Street Week to discuss where he sees opportunities in real estate and shared insight into his investments across Mexico where his Latin American division, Thor Urbana, is based. Thor Urbana has developed more than 20 million square feet of real estate and amassed a portfolio exceeding $3.5 billion USD to date. The company develops lifestyle retail centers, luxury hotels, residential communities, corporate offices, and industrial parks in cities including Mexico City, Guadalajara, Playa del Carmen, Cancun, Merida, Metepec, Los Cabos, Tulum, San Luis Potosi, Tijuana, Riviera Nayarit, and Belize.