SRS Real Estate Partners Completes $9.11 Million Sale of a Newly Developed TXB Convenience Store Property in Greater Austin Market

SRS Real Estate Partners has completed the $9.11 million sale of a newly developed 6,461-square-foot convenience store property occupied by TXB. Situated on 4.52 acres of land at 145 Lehman Road in Kyle, TX (Austin region), the property has a 20-year, corporate-guaranteed triple net lease in place. TXB, or Texas Born, is a family of customer-oriented convenience stores and quick food operations, with more than 48 locations in Texas and Oklahoma.

SRS Capital Markets Executive Vice President and Managing Principal Patrick Nutt and Senior Vice President William Wamble who are based in Florida represented the seller, a Southeastern U.S.-based private developer. The buyer was a Virginia-based 1031 exchange buyer.

“While TXB is a newer brand in the C-store space, the investor was drawn to this location and tenancy due to the premier location and passive, landlord friendly lease,” said Wamble. 

Nutt continued, “TXB is a newer brand within the C-store space, but the investor became familiar with the offering and was attracted to the modern prototype with an emphasis on best-in-class, fresh-made food offerings, similar to what you would find in other national concepts like Wawa, Sheetz and its peer group.”

TXB was named by CStore Decisions as the winner of its 2023 Convenience Store Chain of the Year. The property is situated on a signalized intersection in a dense retail corridor and is near the Interstate 35 on/off ramp.

Year to date, SRS Capital Markets has completed approximately $731 million in deal volume comprised of 182 transactions in 34 states. SRS currently has in excess of 698 properties actively on the market with a market value surpassing $3.7 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit