CBRE Brokers Sale of Austin-Area Retail Center
- Sep 20, 2019
CBRE has arranged the sale of Crystal Falls Town Center, a 94,820-square-foot Class A, grocery-anchored retail facility in Leander, Texas. The company’s national retail partners represented the seller, Cypress Equities. ACF Property Management is the manager of the asset.
Located at 3441 Lakeline Blvd., the retail center is near freeways 183 and 183A, in the suburb of Northwest Austin and is exposed to around 23,000 vehicles per day. There are approximately 116,000 people living within a 5-mile radius with an average household income of more than $100,000. According to CBRE, Leander is one of the fastest-growing cities in Texas, with 170 percent population growth since 2000.
Constructed in 2016 and 2017, the 99 percent-leased Crystal Falls Town Center is anchored by Randall’s grocery store. Additional tenants include a mix of national and local retailers such as GNC, Starbucks, Orange Theory and Sprint.
CBRE’s team included Executive Vice Presidents Chris Cozby and Jim Batjer, Senior Vice President Mark Witcher and Associate Blaine Dozier. Batjer joined CBRE’s Dallas office in April. Prior to that, he served as a senior managing director with HFF’s Dallas office.
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