Beverly Hills, CA – August 13, 2025 – Omninet Capital, a privately held real estate investment firm, announced the sale of a five-building, 288,948-square-foot office property located at 7600–7745 Chevy Chase Drive, Austin, TX 78752. Doug Rauls from Colliers represented Omninet Capital, and Andrew Childers from Newmark represented the buyer. The transaction closed on July 31, 2025.
Situated on 17.35 acres at the highly visible intersection of I‑35 and Highway 183, the campus offers direct access to key Austin destinations—just 6.3 miles from downtown, 6.5 miles from The Domain, and 10.3 miles from the airport.
According to the latest market data, Class B office vacancy in Austin stands at approximately 24.8%, with negative net absorption of –154,660 SF in Q1 2025—a sign of elevated availability and ongoing leasing challenges in that segment of the market.
“This sale reflects Omninet’s strategy to focus our office portfolio in California while expanding our multifamily portfolio in Texas, with a specific focus on the Dallas and Austin markets. The transaction reflects our team’s ability to execute complex transactions in a challenging office market. Working with Crain Investments was particularly gratifying—they mirror Omninet’s approach: professional, reliable, and closing the deal as promised, on time. In a challenging environment, alignment like that matters. We also commend Doug and his team, whose exceptional brokerage expertise enabled us to find the right acquiror to maximize value despite headwinds in the office market.”
The property was previously in special servicing and was successfully sold at a price that exceeded the outstanding debt amount prior to maturity without loan modification, demonstrating Omninet Capital’s ability to successfully navigate complex situations.
