NAI Partners Investment Fund III Closes on Triangle Center

NAI Partners’ Investment Fund acquired Triangle Center, a 58,929-square-foot retail center in Round Rock, TX. The seller is listed as Austin-based Triangle Center I Ltd., led by Steve Fain.

Andrew Pappas and Adam Hawkins of NAI Partners’ Investment Fund negotiated and closed the deal. Matt Fain of Equitable Commercial Realty represented the seller. Peyton Jones with Veritex Community Bank provided the lending. Joe DeCola of NAI Partners has the leasing assignment, while the company’s Jennifer Gourlay and Amy Ivy have management of the property.

Triangle Center is situated on 4.9 acres at 2000 N. Mays St. The deal also included a 1.2-acre pad which would be ideal for build-to-suit or sales opportunities. “The property is currently 46% occupied, and provides a lot of opportunity for our team to add value,” Pappas said.

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