AUSTIN, Texas--(BUSINESS WIRE)--CIM Group announced today the acquisition of an approximately 95,000-square-foot, four-story Class A office building located at 1645 East 6th Street in Austin. The building is part of the three-building Eastside Village mixed-used development that includes an eight-story, 700 stall parking garage, of which 368 stalls are allocated to the office building, and a four-story 346-unit apartment building over ground floor retail.
The newly constructed office building has a central location in East Austin, one of the city’s fastest growing neighborhoods that is transforming into a vibrant community, attracting retailers, restaurants and new commercial developments. Eastside Village is a transit-oriented complex, just steps away from the Plaza Saltillo MetroRail station providing easy access to downtown Austin with its many businesses, restaurants, hotels and entertainment options. It also is convenient to key transportation corridors situated just nine blocks east of I-35, the main artery through Austin, and bounded by 5th and 6th Streets, major east-west thoroughfares that lead to and from the center of Austin’s Central Business District.
CIM is an investor in communities throughout North America and has been an investor in Austin since 2007 when it identified Austin as a Qualified Community, possessing the attributes that fit CIM’s investment model. CIM’s Austin area investments include the Seaholm Power Plant mixed-use redevelopment, the Penn Field office campus, the District at SoCo apartment community, the Hartland Plaza office complex and The Independent condominium tower.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in five strategic categories: repositioning and development projects, well-positioned operating properties, value-add properties, debt, and infrastructure. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area, Bethesda, Maryland, and Dallas. For more information, please visit www.cimgroup.com.