P: 805-969-5115
F: 805-969-5119
Promontory Point and Enterprise Business Center; Austin, TX

The Promontory Point and Enterprise Business Center are light industrial flex projects, consisting of two buildings totaling 75,719 square feet. The project was an existing industrial development; during negotiations, SIG discovered structural issues in the Promontory building. Our challenge was to devise a permanent solution to some earth movement that was causing the building panels to shift, plan for further cosmetic upgrades, and lease up buildings.
While under contract at a distressed price, we determined that the soils under the promontory Point A building were contracting around the footings. By repairing the perimeter landscape irrigation system and moving it closer to the footings, we could stabilize the earth and stop the building movement.
SIG successfully eliminated all movement in the building and leased out the buildings up to 100% occupancy. We then refinanced the projects, returning all invested equity and continuing to distribute cash flow to investors, providing a return well in excess of a 20% return on their original equity.
SIG currently owns the projects and asset manages; Hill Partners acts as property manager and leasing agent.