An important update from Austin’s real estate market is that the Veterans Affairs outpatient clinic, located at 7901 Metropolis Dr., has been sold for a robust $142 million. Austin TX VII FGF LLC, the new owner, acquired this property from Health Care Property Advisors. CBRE represented the selling party in this noteworthy transaction.
It’s important to note that the VA is slated to continue as a long-term tenant of the building. Their lease extends well into the next decade, providing stability to the new owner.
The property in question is a substantial two-story building, spanning 272,636 square feet and residing on a sprawling 35-acre lot. The sale price comes down to roughly $521 per square foot. Interestingly, the property’s most recent appraised value was $122.7 million for tax purposes.
The facility provides an extensive range of medical services that include, but not limited to, physical therapy, mental health counseling, radiation treatments, prosthetic replacements, cardiology, and neurology.
This medical hub sees foot traffic of over 300,000 veterans every year, with numbers expected to rise as the area undergoes exponential growth. For more details on this story and other real estate updates from Central Texas, keep a tab on our blog at Yee-Haw Development Marketing Group.
You can read more about this [original article here](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=29509).