Two Austin Retail Centers Change Hands

Two Austin area retail centers, Cedar Park’s Shops at Lakeline and San Marcos’ San Marcos Place have been sold in separate transactions.

L&L Property Company purchased San Marcos Place from Partners Real Estate. San Marcos Place is a 73,882-square-foot retail property at 900 Bugg Lane. Cathy Nabours and Kyle Shaffer with SRS Real Estate Partners represented Partners Capital in the sale. San Marcos Place was 82% occupied at the time of sale. Partners originally purchased the property in 2018.

The Austin Business Journal reports the second retail property is Cedar Park’s Shops at Lakeline, located at 115 S. Lakeline Blvd. CenterSquare Investment Management purchased the property, and Kalantari Group was the seller.

Coleman Solomon, Philip Levy and Wes Peacock, investment specialists in Marcus & Millichap’s Austin and Dallas offices, represented Kalantari Group, and Solomon and Levy procured the buyer.

Shops at Lakeline, at 22,443 square feet, is much smaller than San Marcos Place, but the property is 100% leased by tenants that include Domino’s Pizza, VCA Animal Hospital, Cedar Park Dental and Lakeline Nails and Spa.