AUSTIN – SRS Real Estate Partners announced the sale of Silver Creek II shopping center in Austin, Texas. The property is approximately 10,000-square-feet and was 100 percent occupied at the time of sale. It is located at the signalized intersection of West Parmer Lane and Silver Creek Drive. Area retailers include H-E-B, Walgreens, First State Bank, Chick-fil-A, Fry’s Electronics and Starbucks.
“The shopping center has a strong tenant line-up with staggered lease expirations mitigating rollover risk,” said Jason Middlebrook, vice president of investment sales for the Austin/San Antonio office. “Nearly every tenant has built in rent escalations resulting in increased net operating income and yields to the new owner. These increases combined with the strength of the property’s location, made for a good place to allocate investment dollars,” Jason added.
Jason Middlebrook of SRS Real Estate Partners represented the seller in the transaction.
SRS Real Estate Partners is the largest real estate company in the U.S. exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management 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. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com