Austin-based brokers Todd Wallace and Robert O’Farrell represented the seller, Gillman-Gould Properties
AUSTIN, Texas, August 17, 2010 – SRS Real Estate Partners (SRS), the largest national real estate company in the country exclusively dedicated to retail services, has completed the sale of a 7.54-acre property in Austin, Texas. The property, which includes three buildings totaling 30,274-square-feet, was formerly occupied by the Gillman Auto Dealership. Austin-based SRS brokers Todd Wallace, executive vice president and market leader, and Robert O’Farrell, vice president, represented the seller, Gillman-Gould Properties, in the transaction. Harry Pokorny of Lone Star Properties represented the buyer, R. Lewis Investments, dba: Texas Auto Center.
SRS was marketing the property both for sale or lease, and in June of this year Texas Auto Center signed a two-year lease agreement. However due to low interest rates, the buyer decided to purchase the property just 45 days into the signed two-year lease agreement, which included the right to purchase the property at a set price. The property was acquired in July 2010 and is located at 6809 S. IH-35 in Austin.
“A buyer couldn’t ask for a better location. The land is clearly visible from I-35,” said Wallace. “Because of the numerous retailers in the area, there are extremely high traffic counts which make this particular property extremely desirable.”
In addition to its prime location, the property includes more than 200 feet of frontage along I-35. Neighboring stores include Burlington Coat Factory, HEB, Academy Sports + Outdoors and Target.
About SRS Real Estate Partners
SRS Real Estate Partners (SRS) is the largest national real estate company in the country exclusively dedicated to retail services. Headquartered in Dallas with multiple offices nationwide, SRS’ strong presence across the country provides the company with unparalleled local knowledge on a national platform. As a result, clients of SRS have a competitive edge through a full range of services including tenant representation, landlord representation, land brokerage, disposition services, investment services, lease administration, and managed services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. For more information, please visit srsre.com.
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