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2/09/22
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InvenTrust Properties Corp purchased two retail assets in Austin, TX for $189.3 mil. The transaction includes The Shops at Arbor Trails, a 357k sf center anchored by Costco Wholesale and Whole Foods, and Escarpment Village, a 168k sf shopping center anchored by HEB, the region’s top grocer. The deal works out to about $360/sf.
Escarpment Village, Austin |
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“The Shops at Arbor Trails and Escarpment Village are 99% and 100% leased, respectively, and contain incredible tenant lineups, including leases with three top-tier grocers,” noted Stephen Snodgrass, Vice President of Acquisitions of InvenTrust. “Both centers have components of sustainability, including but not limited to, solar and water reclamation, which continue to be important initiatives in our portfolio strategy.”
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