Regency Centers Corp. has acquired University Commons in Round Rock, Texas. The shopping center, spanning 218,000 square feet and located at 250 University Blvd on a 33-acre lot, was purchased from LaSalle Investment Management with the assistance of CBRE.
University Commons is already almost fully leased to a variety of well-known national and local tenants including H-E-B grocery store, T-Mobile, AT&T,Twin Liquors,Mattress Firm,and Summer Moon Coffee. Its prime location along I-35 provides high visibility and easy access for customers.
According to the property brochure,the Austin Business Journal reports that University Commons is currently 94% leased with only seven spaces available for rent ranging from1 ,500 square feet to2 ,853 square feet.The anchor tenant,H-E-B,takes up130 ,885squarefeetofspacewhiletheother29tenantsoccupy71 ,247squarefeetcombined.This acquisition adds another successful property to Regency Centers’ portfolio as it continues its growth in the region’s bustling retail market,situated between two other major shopping centers – Round Rock Premium Outlets and an IKEA-containing complex directly south of University Commons.
