High-profile Austin grocery-anchored shopping center put up for sale

May 27, 2014
Austin Business Journal

A rare retail investment opportunity has emerged in the Austin market, now that Dallas-based real estate investment fund Velocis is selling the Springdale Shopping Center at 7112 Ed Bluestein Blvd.

The 163,677-square-foot shopping center is anchored by HEB Grocery Co. and includes expansion opportunities

CBRE Group Inc. brokers in Dallas and Houston represent Velocis. No list price or call for offers has been set, nor the reason for the disposition

Velocis owns several other properties in Austin, including the West Woods shopping center at Bee Cave Road and Walsh Tarlton Lane, which is anchored by Michael’s and Stein Mart; 804 Las Cimas Parkway, an 83,000-square-foot office building in West Austin; Arboretum Atrium, a 92,000-square-foot office building in Northwest Austin; and The Jefferson, a medical office building at 1600 W. 38th St.

“Grocery-anchored centers are rare commodities in all markets, but Austin is one of the most highly sought after markets in the country,” said co-listing broker Chris Gerard

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