SRS Real Estate Partners Facilitates Sale of The Shops at Greenlawn in Round Rock
The sale of The Shops at Greenlawn highlights the strong demand for retail properties in Central Texas, driven by demographic growth and limited new retail construction.
SRS Real Estate Partners has announced the sale of The Shops at Greenlawn, a 22,970-square-foot retail center in Round Rock, Texas, underscoring the robust demand for retail assets in areas with strong demographic growth. The property, located at 3200 Greenlawn Boulevard, was sold by Mathias Partners to an out-of-state, global real estate investor, with the transaction facilitated by SRS Capital Markets team members Cathy Nabours, Kyle Shaffer, and Sam Nichols.
The Shops at Greenlawn, which is 92% occupied by nine tenants, attracted multiple offers, reflecting the high investor interest in retail centers within the Austin Metropolitan Statistical Area and surrounding Central Texas communities. Nabours noted the unprecedented demand for retail properties in these regions, where new housing developments have significantly outpaced retail construction.
Shaffer emphasized that the acquisition aligns with the buyer's strategy to invest in high-quality, unanchored retail centers offering essential services. The property's location near Dell Computers' headquarters and across from a H-E-B Grocery center, along with the upcoming development of The District—a 65-acre mixed-use project—further enhances its appeal.
This transaction marks the third multi-tenant shopping center sold by the SRS team in the last three months, contributing to the firm's impressive year-to-date deal volume of over $1.2 billion across more than 350 transactions nationwide. SRS Real Estate Partners continues to demonstrate its leadership in the commercial real estate sector, with over 845 properties currently on the market, valued at more than $3.7 billion.