AUSTIN — A joint venture between Dallas-based Rainier Cos. and Harbert Management Corp. purchased the Southpark Meadows III shopping center in Austin.
CBRE Capital Markets’ National Retail Investment Group and Michael Maffia of Newmark Grubb Knight Frank announce the sale of the 257,988-square-foot Class A super-regional power center, on behalf of Austin-based Endeavor Real Estate Group.
Southpark Meadows III, located at 9900 Interstate Highway 35, is part of Southpark Meadows, Endeavor’s 425-acre mixed-use development that includes 1.6 million square feet of retail and is the largest retail shopping destination in the Austin metro.
Southpark Meadows III was developed in 2007 and is anchored by Conn’s, Cinemark Theatre, Spec’s, Sheplers Western Wear and Half Price Books, as well as shadow anchored by Sam’s Club and Ashley Furniture. The asset is 93.8 percent occupied. Endeavor retains management and leasing.
Chris Cozby, Chris Gerard and Kevin Holland, with CBRE, along with Michael Maffia, with NGKF, represented the seller