Investment Overview

Market at Lakecreek is comprised of three multi-tenant buildings along with two pad sites totaling 173,505 square feet of leasable area, and one 29,566-square-foot, single-tenant building on a ground lease located in a densely populated and growing area of northwestern Austin, Texas. Fitness Connection and Goodwill anchor the center, occupying approximately 47 percent of the gross leasable area. Both are top-performing locations, ranking in the 84th percentile and 83rd percentile, respectively, based on annual visitors to stores in the state of Texas. Habitat for Humanity ReStore is on a 10-year ground lease that has scheduled annual rent increases. Other major tenants include Austin Gymnastics, O'Reilly Auto Parts, Koryu, Kid Strong, Los Reyes Mexican Grill, P. Terry's Burger Stand, and Taco Bell. The buildings are situated on a total of 17.66 acres. The subject property is located at signalized intersection of U.S. Highway 183 and Lake Creek Parkway, just south of State Highway 45. The center benefits from great highway visibility with cumulative traffic counts exceeding 134,964 vehicles per day. Market at Lakecreek is near numerous national and regional retailers, including Walmart Supercenter, Lowe's, Burlington, McDonald's, Sam's Club, Target, The Home Depot, H-E-B plus!, Barnes & Noble, T.J. Maxx, Total Wine, Best Buy, and many more. Lakeline Mall is approximately one mile north, a super-regional shopping mall anchored by Macy's, JCPenney, AMC Theaters, and Dillard's. The property benefits from strong demographics in the surrounding area, with a population exceeding 233,299 residents within a five-mile radius. The average household income within a one-mile radius is $101,055; $120,743 within a three-mile radius; and $130,355 within a five-mile radius.