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Acquisition is one of the top five largest sales of the year by transaction value in the Austin office market
Austin, TX, October 22, 2020 – NAI Partners—one of the top-five largest privately-held, full-service commercial real estate firms in Texas—announced today that it has arranged the sale of the prestigious Davenport 360, a 37,500-sq.-ft. Class A office property located at 6001 Bold Ruler Way in Austin, Texas, to Pharmacists Mutual Insurance Group. The sale is one of the top five largest by transaction value completed in 2020 in the Austin office market.
NAI Partners’ Todd Mahler represented Pharmacists Mutual Insurance Group in the transaction. The seller was represented by Cushman & Wakefield.
“This was truly like finding a diamond in the rough in the Austin market, and my client feels honored that the seller allowed us to pursue the acquisition of the building,” said Mr. Mahler. “This acquisition signals to the commercial real estate market that deals are still getting done for those not content to sit on the sidelines.”
Pharmacists Mutual Insurance Group is a nationally recognized leader providing insurance and risk management solutions within the insurance industry. Pharmacists Mutual operates in all 50 states, the District of Columbia, and Puerto Rico. Financially secure, Pharmacists Mutual is an AM Best “A” Excellent rated property and casualty insurance provider. The company take prides in being a single source for insurance protection for its select markets of healthcare, including pharmacy, and grocery. Its broad portfolio of products and services satisfies its members’ professional, personal, and business insurance needs.
For additional information, please contact Larry Koestler, Senior Vice President of Marketing & Communications, at 713.629.0500.
About NAI Partners
NAI Partners is one of the top 5 largest privately held and independently owned commercial real estate services firms in the state of Texas. NAI Partners was founded and is headquartered in Houston and has offices in San Antonio and Austin; offers the geographic expertise to complete real estate transactions throughout the state; and can leverage the power of the NAI Global network to arrange deals in any location around the world. NAI Partners employs more than 150 real estate professionals, and arranges more transactions than any of its competitors, completing over 700 commercial lease and sale arrangements every year. NAI Partners is a full-service firm offering client leasing and sales solutions in the areas of Office Tenant Representation, Office Project Leasing, Industrial Tenant Representation, Industrial Project Leasing, Retail Tenant Representation, Retail Project Leasing, Landlord Services, Property Management, Investment Sales, Valuation and Advisory Services, Partners Facilities Services (PFS), and Project Management, among other lines of business. The company also has an investment fund platform called Partners Capital, and a development vehicle called Partners Development, both of which are wholly owned subsidiaries of NAI Partners. NAI Partners is the top Houston-based full-service commercial real estate firm on the Inc. 5000 list of fastest-growing private companies in America; the 5th-largest Houston-Area Commercial Real Estate Brokerage and #1 Mover of Square Feet among leasing and sales brokerages in Houston per the Houston Business Journal; the only commercial real estate firm on the Houston Business Journal’s Mid-Market 50 list; a top 12 largest San Antonio Commercial Real Estate Brokerage per the San Antonio Business Journal; and a top 20 Property Management Firm by square feet under management in Houston per the Houston Business Journal. NAI Partners has been named a Best Place to Work by the Houston Chronicle, Houston Business Journal and Austin Business Journal; and is among the University of Houston’s Cougar 100 Fastest-Growing Companies.
Commercial real estate in Houston, Austin and San Antonio. NAI Partners offers full-service commercial real estate solutions to Houston, Austin and San Antonio, and has been serving the Houston commercial real estate needs of its clients for more than 20 years. We specialize in finding office space, industrial space and retail space, and can arrange an office lease, industrial lease or retail lease for your company. Our brokers help tenants and landlords or property owners of any size find the perfect real estate space or location for their business needs. For more information, contact us today.