Reported Oct 27, 2026 · Source: LinkedIn
FORMATION, with New York Life Investors, closed on the off-market acquisition of Met Center 5 in Austin TX. The 154,000-square-foot building in the Met Center business park was vacant at escrow and was 100% preleased before closing. The seller and tenant were not named. Source: LinkedIn (FORMATION).
Summarized from the article; the quoted lines below are from the article itself.
Read the full report at LinkedIn. What the article says:
FORMATION, in partnership with New York Life Investors, is excited to announce that it has closed on the off-market acquisition and 100% preleasing of Met Center 5 in Austin TX. Comprising 154,000 square feet in the highly coveted Met Center business park near Austin Bergstrom Airport, the building was vacant at the time FORMATION went into escrow. Through a creative marketing strategy, FORMATION successfully preleased 100% of the building prior to closing to a very strong credit tenant. This is a significant lease for the overall Austin market. This was a unicorn building with very high power, abundant parking, fully HVAC’d space, and is fully secured. The thesis proved out regarding the rarity of these buildings and the continued demand for assets with these attributes. First United Bank & Trust provided financing. Brandon Brewer Congrats to our Acquisition team lead by Justin Wall. And thanks to all involved!
FORMATION, in partnership with New York Life Investors, is excited to announce that it has closed on the off-market acquisition and 100% preleasing of Met Center 5 in Austin TX.
Article date: 2026-10-27T17:26:34.210Z
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