 |
| Erin Lazarus |
DALLAS, TX – JLL Capital Markets has closed the sale of Springdale Shopping Center, a fully leased, 163,145-square-foot retail center anchored by H-E-B in the northeast part of Austin, Texas.
JLL marketed the property
on behalf of the seller, Forge Capital Partners. EDENS purchased the asset.
 |
| Chris Gerard |
The
center is also home to a diverse tenant mix, including Ross Dress for Less,
dd’s, Dollar Tree, O’Reilly Auto Parts, Subway, KFC and Wingstop.
These
national tenants have a long-standing history at Springdale Shopping Center,
and many having below-market rents, offering future rent growth
opportunities.
Situated on 12.58 acres at 7112-7210 Ed Bluestein Blvd. Springdale Shopping Center houses the H-E-B location that is the furthest east in Austin, allowing the center to pull from an extended trade area that houses 87,339 residents within a three-mile radius with an average annual household income of $73,137 – a 53 percent increase from five years ago.
 |
| Ryan Shore |
This area has exploded in recent years, with 22 percent population growth since 2010 and even more anticipated over the next five years.
The JLL Capital Markets
Investment Sales and Advisory team representing the seller was led by Senior
Managing Directors Chris Gerard and Ryan Shore, Senior Director Clint
Coe and Analysts Erin Lazarus and Zach Riebe.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment and sales advisory,
debt advisory, equity advisory or a recapitalization.
 |
| Clint Coe |
For
more news, videos and research resources on JLL, please visit our newsroom.
About
Forge Capital Partners
Forge Capital Partners is a diversified commercial real estate and investment management company.
Forge has built a strong track record as an acquirer and operator of commercial real estate, specializing in socially responsible projects through the Southeast.
 |
| Zach Riebe |
Since 2000, Forge and its principals have successfully sponsored and managed four real estate oriented, closed-end private equity funds, and executed over $1 billion in retail and multifamily real estate transactions.
About EDENS
EDENS
is a retail real estate owner, operator and developer of a nationally leading
portfolio of 110 places. EDENS’ purpose is to enrich community through human
engagement.
CONTACT:
Kimberly Steele
JLL
Manager
Public
Relations
Phone: +1
713 852 3420
Email: Kimberly.Steele@am.jll.com
edens.com or follow @WeAreEDENS.
