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AUSTIN-Ultimate Electronics Inc. has signed leases for two stores in Austin with a third to follow later. Each deal–about 31,000 sf and 15 years–marks the Thornton, CO-based electronics retailer’s entry into the Austin market.

One store will be in Simon Property Group’s Lakeline Village retail center at US Highway 183 and RM 620 and another will set up shop in a center anchored by a Target Supercenter at Interstate 35 and Parmer Lane, Steve Olson, Ultimate’s vice president of real estate, tells GlobeSt.com. That development is a project of Developer Diversified Realty and David Berndt Interests. Those stores are to open late next year. The third store will be in South Austin and should open in 2004.

Ultimate has stores in 13 states, including 10 locations in the Dallas-Fort Worth area. Olson says the company seeks space in power centers or a free-standing building along major highways. Dan Watson, vice president of Staubach Co.’s Dallas team, is representing Ultimate Electronics in its Austin search and subsequent negotiations.

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