Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a value-add 9,917-square-foot, multi-tenant retail plaza located in the Austin, TX MSA. The center is 100 percent occupied, with all triple-net leases. The property includes a complementary mix of retail, service-oriented businesses, and restaurants. All original tenants with 42 percent of the rent roll have exercised recent renewals and have attractive rent bumps to hedge against inflation. The property was built in 2018 and features a modern facade. Crystal Falls Parkway Retail Center is located at the signalized intersection of Lakeline Blvd and Crystal Falls Pkwy. Traffic counts on Crystal Falls Pkwy is 14,342 vehicles per day and 17,666 vehicles per day on Lakeline Blvd. The property is a shadow anchor to the third-highest performing Randalls Grocer in the United States. It is surrounded by other national retail tenants such as Starbucks, Orangetheory Fitness, and The UPS Store. Cedar Park Regional Emergency Center, an affiliate of Cedar Park Regional Medical Center, is located across the street and open 24/7. They see about 6,000 patients per year. Leander is currently experiencing substantial residential and retail developments with four major projects currently under construction or about to break ground. There are currently over 870 total residential units under construction. Northline Development is a game-chaing 116-acre mixed-use project that will transform Leander's downtown district while Topo Retail Development is a $48 million project on Crystal Falls Parkway that will add 155,000 square-feet of retail, restaurant, and office space. The City of Leander has a booming population that has continued to grow year over year. The current estimated population is 78,525 within 3-miles and 161,947 within 5-miles. The projected 5-year population growth for the area is over 11%. The city is known for its safe neighborhoods, excellent school, and a strong sense of community. Known for its family-friendly atmosphere, excellent schools within the Leander Independent School District, and a strong sense of community, it's a popular choice for families and professionals alike.