Endeavor Sells Shopping Center for $112M

Endeavor Real Estate Group, developer of the 404,000-square-foot Parke Shopping Center, sold the Cedar Park, TX-based asset to InvenTrust Properties Corp. for $112.3 million. The Parke opened in 2017 at 5001 183A Toll Road, north of Austin, and is anchored by the region’s first 365 by Whole Foods Market, along with Nordstrom Rack, Dick’s Sporting Goods and Field & Stream.

InvenTrust CFO and Chief Investment Officer Michael Podboy said the buy was made to upgrade the company’s “grocery anchored portfolio in one of our key Texas markets.” Furthermore, he went on to say that the property is providing diversification, due to it holding the first 365 by Whole Foods. Additionally, “The Parke is also located at a strong retail corridor in one of Austin’s most affluent and fastest-growing suburbs,” Podboy noted.

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