Dinges: New owners plan remake of Northwest Austin shopping center

Mar 24, 2014
Austin American Statesman

A struggling Northwest Austin shopping center is about to get a major facelift

Anderson Mill Acquisitions LLC, a group of local investors, has purchased the Anderson Mill Shopping Center, at Lake Creek Parkway and U.S. 183, and plans to give the 30-year-old strip mall a fresh new look

The Weitzman Group’s Graham Carter and Adam Zimel handled negotiations. A purchase price wasn’t disclosed

As part of the remodel, the center will get a new name: Market at Lake Creek

Anderson Mill Shopping Center has a number of empty storefronts and suffered a big blow last year when an H-E-B store that had been a longtime anchor relocated to a new, larger location nearby. Remaining tenants include 24 Hour Fitness and O’Reilly Auto Parts

“The purchase and rebranding of the Market at Lake Creek represents a significant opportunity for large tenants to enter the Lakeline submarket or potentially re-position within the market,” Carter said. “The purchaser viewed this property as an under-utilized asset that could benefit from a fresh perspective. They’re a local company with a track record of redeveloping retail centers throughout Central Texas.”

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