CIM Group Sells Hartland Plaza, 184,128-Square-Foot Creative Office Building in Austin, Texas

AUSTIN, Texas--(BUSINESS WIRE)--CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that it has sold Hartland Plaza, a 184,128-square-foot Class A office building in Austin, Texas which it acquired in 2015.

Located at 1717 W. 6^th St. in Downtown Austin, Hartland Plaza is a four-story creative office building with a subterranean parking garage and an adjacent four-story parking structure on 3.4 acres of land. Built in 1984, the property underwent a comprehensive renovation between 2017-2019 and now provides tenants with numerous on-site amenities such as a communal lounge, fitness center, conference facility, restaurant, salon and health spa. CIM Group also integrated Bipolar Ionization technology into the building’s HVAC system to maintain healthy air quality.

“CIM Group owns and manages a diverse portfolio of commercial properties throughout Austin and we intend to continue to seek new opportunities in this dynamic market. We believe there is demand for quality properties such as well-located creative offices, modern apartment communities and mixed-use environments,” said Shaul Kuba, Co-Founder and Principal, CIM Group.

Ideally located in Austin’s urban core, at the intersection of West 6^th Street and MoPac Expressway, Hartland Plaza is within walking distance to numerous restaurants and provides convenient access to Lady Bird Lake and local hiking and biking trails.

CIM Group is an active owner, operator, and developer in Austin, bringing quality real estate uses to enhance the area as it does in other communities across North America. In addition to Hartland Plaza, CIM’s Austin office portfolio includes Fifth + Tillery, Eastside Village, Chase Tower, 507 Calles, 1300 E. 5^th Street, and 1021 E. 7^th Street. CIM Group also owns and operates the District at SoCo apartments and was a co-developer of the Seaholm Power Plant mixed-use redevelopment as well as The Independent luxury condominium tower.

For more than 25 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.