SRS Real Estate Partners announced the sale of Gruene Heights, a fully occupied, 25,767-square-foot multi-tenant retail center located at 1050 to 1058 FM 306 in New Braunfels, TX.
Built in 2024 and situated on 3.54 acres, the property includes seven tenants including Papa Johns, Garcia’s Mexican Food Restaurant, Chicken Salad Chick, and River Smiles Dentistry, among others.
SRS Capital Markets Managing Principal Cathy Nabours, Vice President Kyle Shaffer, and Senior Associate Sam Nichols represented the seller, a San Antonio-based developer. The buyer was a Houston-based private investor.
“We had significant buyer interest for this newly developed, 100% leased asset from private investors and 1031 exchange buyers,” said Nabours. “Gruene Heights provides the new ownership Class A construction, a favorable tenant mix, ample customer parking and a stellar, highly visible location parallel to FM 306.”
The property is just a three-minute drive to Historic Gruene. Located at the confluence of the Comal and Guadalupe Rivers, New Braunfels offers a unique tourist destination. In 2023, more than three million people visited New Braunfels, producing a $1.3 billion economic impact to the city.
Last year, SRS Capital Markets completed more than $3.5 billion in deal volume comprised of 950 transactions across the nation. SRS currently has in excess of 845 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 celebrating 40 years of going the extra mile for its clients. Building on its retail foundation, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 30 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.