HEB Grocery-Anchored Retail Sells for $114M

Stratus Properties Inc. inked a deal to sell Oaks at Lakeway, a 236,739 square-foot HEB grocery-anchored retail development for $114 million. The buyer of the Austin-area property is Boston-based TA Realty LLC. The transaction is scheduled to close in December.

HEB, which encompasses approximately 95,000 square feet, opened in the space on South Rural Route 620 and Main Street in latet 2015. Additional tenants include Factory Mattress, Twin Liquors, Torchy’s Tacos and Subway.

Before the transaction can close, Austin-based Stratus needs to lease up the remaining space, consisting of 20,000 square feet and four pad sites for single-tenant development. Stratus is also responsible for developing a hotel pad. A deal has been signed with a La Quinta Inn & Suites developer for that project.

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