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| Erin Lazarus |
DALLAS, TX, June 24, 2024 – JLL Capital
has closed on the sale of Saint Vincent, an iconic, mixed-use trophy
asset totaling 21,185 square feet located in the heart of the South Congress
District of Austin, Texas.
JLL represented the seller and procured the buyer.
The price was not disclosed.
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| Megan Babovec |
JLL’s Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard and Ryan West, Directors Erin Lazarus and Shea Petrick, Associate Megan Babovec and Analyst Ben Pollack.
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| Chris Gerard |
Built in 2018, the mixed-use property is 100% leased to a curated tenant
mix including retail tenants King Ranch Saddle Shop, Madewell, Marine Layer,
Howler Bros and Garrett Leight, as well as credit office tenant John Deere.
Located at 1329-1333 South Congress Ave, Saint Vincent is at the nexus of
Austin’s live, work and play lifestyle with immediate access to downtown
employment hubs and prominent neighborhoods.
The property also
anchors Austin's only truly walkable strip of shopping and entertainment
venues, contributing to its status as one of the strongest retail destinations
in the country.
Additionally, the South Congress micro-market has consistently maintained
retail occupancy levels above 95% for the past decade, driven by the scarcity
of substantial contiguous space with street frontage and limitations on future
development.
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| Ryan West |
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 sales and advisory, debt advisory, equity
advisory or a recapitalization.
The firm has more
than 3,000 Capital Markets specialists worldwide with offices in nearly 50
countries.
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| Shea Petrick |
For more news, videos and research
resources, please visit JLL’s newsroom.
Contact:
Phone: +1 903 520 3478
jll.com.
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