SRS Real Estate Partners (SRS) announced that they represented a private development group in the sale of The Ridge, a two-building retail center in north Austin. The Ridge is located at the southeast quadrant of Parmer Lane and Tech Ridge Boulevard, a flourishing area of Austin. The 19,300-square-foot center houses a mix of national, regional, and local tenants such as Sherwin-Williams, Rush Laundry, Brooklyn Pie, and Little Woodrow’s.
Ryan Hoff, vice president at SRS Real Estate Partners, represented the seller in the transaction while Logan Reichle of CBRE represented the buyer.
“This transaction is very much representative of the pent-up demand for retail properties in Austin right now,” said Hoff. “After receiving over a dozen offers in the first two weeks of marketing, we were able to choose a very qualified buyer that performed and closed on the property. There is no doubt that Austin is a seller’s market, and we expect more great things in 2016!”
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America 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.
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