Institutional Property Advisors, a division of Marcus & Millichap, arranged the sale of La Frontera Village, a 534,566-square-foot regional shopping center in Round Rock.

The project, home to tenants such as Kohl’s, Hobby Lobby, Burlington Coat Factory and Marshall’s, is 92% leased. The seller’s agent, SVP Andrew Margulies with IPA, says the center is one of the most popular one in the country, “With over six million customer visits every year, La Frontera Village is one of the top 3% most-visited shopping centers in the nation.”

Margulies, in conjunction with IPA’s Erin Patton, Scott Wiles and Craig Fuller represented the seller, a private real estate investment company based in the Midwest and procured the buyer.

Built in 1980 and renovated in 2000 and 2001, La Frontera Village is located near a number of large employers, such as Dell, Emerson Automation Solutions and Trellis Co. The shopping center is located within La Frontera, a 330-acre master planned community.

Margulies added, “Supported by the fast-growing Austin-Round Rock metro area, the acquisition gives the buyer an opportunity to add value in many ways, including vacancy lease-up and out parcel development.” A .78 acre parcel was included in the sale.