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Live Oak-Gottesman LLC purchased The Shops at Ladera Bend (7300 RM 2222) in Northwest Austin from Wells Fargo on Friday for an undisclosed amount.
Live Oak-Gottesman plans to lease and manage the property. Retail spaces ranging from around 1,050 square feet to 13,000 square feet are available for lease. Current tenants include Collins Endodontics and Anytime Fitness.
In a healthy sign for the Central Texas retail market, Wal-Mart Stores Inc. says it plans to build four new supercenters in the area, with locations in Cedar Park, Manor, Kyle and Elgin.
Each store will be 150,000 square feet and employ about 300 associates, creating about 1,200 jobs, company officials said. The stores in Kyle, Elgin and Manor will be Wal-Mart’s first entry into those markets. The supercenter planned for Cedar Park would be the second for that area northwest of Austin.
The announcement by the nation’s largest retailer is one of the strongest indications yet that the retail market could be picking up in Central Texas after shoppers reined in spending during the downturn.
Sprouts Farmers Market is shuttering three Austin-area stores, saying that a recent merger left the natural foods chain with too many locations packed too closely together. The stores at 2917 W. Anderson Lane (Hillside Shopping Center), 2805 Bee Cave Road (Shops at Mira Vista) and 5601 Brodie Lane (Sunset Valley Village) will all close by Dec. 18, Sprouts President Doug Sanders said.
Shoppers lured by deep discounts and early store openings sent sales over the four days starting on Thanksgiving soaring 16.7 percent over the same period a year ago to $52.4 billion, according to the National Retail Federation. …Read Entire Post
An Austin-based firm that specializes in acquiring “undervalued real estate assets” confirmed Friday that it has purchased three high-profile downtown area properties. World Class Capital Group, led by President and CEO Nate Paul, is the new owner of the La Zona Rosa building, as well as buildings that housed a pair of now-closed restaurants, Spaghetti Warehouse and Katz’s Deli.
IKEA announced plans Wednesday to grow its store in Round Rock by 54,000 square feet. The store will expand to 306,900 square feet from the original 252,000 square feet at the time of opening in November 2006. Construction will begin this month and should be completed by summer 2012.
Two Simon Property Group properties have added several new retailers to its tenant lineup. The Arboretum located at 9333 Research Blvd. in North Austin gained The Orvis Company Inc. (8,800 sf), Blue Baker (6,519 sf) and Z Gallerie Inc. (8,712 sf). Wolf Ranch Town Center located at the southwest corner of Interstate Highway 35 and State Highway 29 in Georgetown announced the addition of Gold’s Gym Express (16,522 sf) and Ross Stores Inc. (27,639 sf).
Sprouts Farmers Market
