Two retail centers in the Austin area, Cedar Park’s Shops at Lakeline and San Marcos’ San Marcos Place, have recently been sold in separate transactions.
San Marcos Place, a 73,882-square-foot property located at 900 Bugg Lane, was purchased by L&L Property Company from Partners Real Estate. The sale was facilitated by Cathy Nabours and Kyle Shaffer of SRS Real Estate Partners on behalf of Partners Capital. At the time of sale, San Marcos Place was 82% occupied. This property had previously been acquired by Partners in 2018.
The second retail center to change hands is Cedar Park’s Shops at Lakeline which is situated at 115 S. Lakeline Blvd. According to reports from the Austin Business Journal , CenterSquare Investment Management bought this property from seller Kalantari Group.
Marcus & Millichap’s investment specialists Coleman Solomon , Philip Levy , and Wes Peacock represented Kalantari Group while also procuring the buyer for this transaction through their offices located in both Dallas and Austin respectively.
Though much smaller than San Marco’s place with only a total square footage of approximately22,443 square feet; Shops at Lakeline boasts full occupancy with tenants such as Domino’s Pizza,VCA Animal Hospital,Cedar Park Dental,andLakeline Nailsand Spa among others currently leasing space within its premises.
