Press Release: Catholic Diocese Buys Texas Hospital Association Campus
Dec 14, 2007
Aquila Commercial
Catholic Diocese Buys Texas Hospital Association Campus
Plans call for new pastoral center, sale of existing site
AUSTIN - December 14, 2007 - The Roman Catholic Diocese of Austin has purchased the Texas Hospital Association's campus in Northeast Austin, with plans to relocate the existing pastoral center located at 1625 Rutherford Lane.
The Catholic Diocese of Austin, which serves 25 counties from its Central Texas headquarters, purchased the 53,000-square-foot campus located at 6225 Highway 290 in Northeast Austin. The diocese, will occupy about 40,000 square feet upon the vacation of the premises by the Texas Hospital Association, which has leased back space it presently occupies as construction wraps up on its next home.
THA is planning to move into a million office building at 1108 Lavaca Street in downtown Austin. Construction began in October, 2006, on the new 68,000-square-foot property the THA will soon share with Texas Automobile Dealers Association.
Austin-based commercial real estate firm Aquila Commercial represented the Catholic Diocese in its purchase, and has also been tapped to market the church's current pastoral center. The center is presently located in approximately 15,000 square feet at 1625 Ruther ford Lane in Walnut Creek Business Park. The current asking price is just over million.
"This was one of the smoothest transactions I've ever worked on. The two entities involved knew each other, and therefore came to the table with an established history and sense of trust," says Jay Lamy, principal with Aquila Commercial. "Both parties deserve a lot of credit for making what could have been a long, drawn-out negotiation a pleasurable business experience.
"The new space provides the Catholic Diocese ample room for its growing needs. In addition to the new pastoral center, the space will also temporarily house employees in administration while their current space downtown is renovated and upgraded. The Diocese will renovate its building downtown at 1600 N. Congress Avenue for several purposes. It will serve as a center for meetings, receptions, and days of prayer. A portion will be renovated for the Bishop's residence. A large part will accommodate the Texas Catholic Conference and the Catholic Archives of Texas.
"The Diocese had very specific and unique needs. A strong team of brokers from Aquila Commercial worked diligently to find the building that best suited our needs and budget," says the Most Reverend Gregory Aymond, Bishop of Austin. "I was impressed with their expertise, experience, and work ethic. The value and savings they brought to us was extraordinary."
Aquila debuted in January 2007 with six founders with a combined total of more than 80 years of direct industry experience working for major national companies like CBRE and Trammell Crow. Since that time, the company has landed more than 38 listings with a combined total of more than 4.35 million square feet.
About Aquila Commercial
Harkening the powerful and noble Aquila eagle, Aquila Commercial LLC is a full-service commercial real estate firm based in Austin, Texas. Launched in January 2007, a group of six core founders have a combined total of more than 80 years of direct industry experience working for major national companies from CB Richard Ellis to the Trammell Crow Co. Recognized by their peers and publications as some of the top producers in their respective disciplines, Aquila Commercial seeks to emulate the Aquila eagle's reputation for flying higher and maintaining the sharpest vision. For more information, please visit: www.aquilacommercial.com.
About The Diocese of Austin
The Roman Catholic Diocese of Austin includes 125 parishes, or faith communities, in 25 counties in Central Texas. The diocese stretches from West, Texas, (just north of Waco) in the north to San Marcos in the south to the Bryan/College Station area in the east to Mason in the west. Its largest metropolitan areas are Austin, Bryan/College Station, the Killeen/Temple/Belton area and Waco. Nearly 90,000 Catholic families live in the diocese, approximately 450,000 Catholics. There are almost 200 priests, 180 deacons, approximately 40 brothers and 110 sisters serving in the diocese. Bishop Gregory Aymond is the head of the diocese.
- ### -
