ROUND ROCK, TX—CBRE's National RetailInvestment Group has completed the sale of BoardwalkShopping Center in Round Rock, near Austin, behalf ofGreenwood Village, Colorado-based Madison CapitalManagement. A private real estate fund advised byCrow Holdings Capital-Real Estate (CHC-RE) basedin Dallas, purchased the super-regional power center for anundisclosed price.
The 184,598-square-foot center, built in 1996,is 98.6% occupied and anchored by a collection ofnational retailers, including Ross,PetSmart, Office Max and Party City.Walmart Supercenter and HomeDepot shadow anchor the asset. The property's tenants havea weighted average historical occupancy of 11.8years and limited rollover with 69% of its tenants notexperiencing lease expirations until 2018 andbeyond.
Its location at the convergence of two major highways,Interstate 35 and State Highway 45, offers high visibility andexposure to more than 447,000 vehicles daily.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
