Rastegar Snags Retail Acreage in St. Johns Neighborhood

Rastegar Property Co. continued its acquisition spree, acquiring a 1.2-acre, 52,751-square-foot retail property in Austin’s St. Johns neighborhood. The structure at 6607 Interstate 35 North is currently home to BT2, a gay bar, and once was the site of a Fuddruckers restaurant. The seller was traced to WCRE Group Inc.

At this time, Rastegar has no plans for the property, however, the buy provides the investment and development company “with flexibility as it explores development scenarios, including residential, retail and commercial space,” according to a statement. St. Johns, on Austin’s southeast side, is in the process of renovation, as its older warehouses and office spaces are being renovated into residential, retail and commercial space.

Pictured: Austin Skyline

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