Marcus & Millichap Inc.
11/18/2024 | Press release | Distributed by Public on 11/19/2024 15:26
Marcus & Millichap Facilitates Sale of Prime Retail Center in Austin Suburb
Press Releases
Marcus & Millichap Facilitates Sale of Prime Retail Center in Austin Suburb
November 18, 2024
LinkedIn Email App
CEDAR PARK, Texas, Nov. 18, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Shops at Lakeline, a fully leased, 22,443-square-foot retail center in Cedar Park, Texas, a high-growth suburb of Austin.
"We're pleased to announce the successful closing of Shops at Lakeline, which exceeded expectations by closing ahead of schedule and attracting a highly competitive multiple-offer situation," said Coleman Solomon, senior associate. "Through strategic marketing and effective negotiation, we delivered a smooth transaction, highlighting the value of strong partnerships and careful execution."
Solomon, Philip Levy, and Wes Peacock, investment specialists in Marcus & Millichap's Austin and Dallas offices, exclusively represented the seller, Kalantari Group, led by principal Amir Kalantari. Solomon and Levy also procured the out-of-state buyer.
Built in 2015, Shops at Lakeline is located at 115 S Lakeline Blvd. The property consists of three buildings on a 1.9-acre parcel and is fully occupied by tenants including Domino's Pizza, VCA Animal Hospital, Cedar Park Dental, and Lakeline Nails and Spa. Positioned near a dense residential area with over 175,000 residents within a five-mile radius, it is also close to a major retail corridor with national retailers such as Walmart, Costco, and Target.
"We're pleased to announce the successful closing of Shops at Lakeline, which exceeded expectations by closing ahead of schedule and attracting a highly competitive multiple-offer situation," said Coleman Solomon, senior associate. "Through strategic marketing and effective negotiation, we delivered a smooth transaction, highlighting the value of strong partnerships and careful execution."
Solomon, Philip Levy, and Wes Peacock, investment specialists in Marcus & Millichap's Austin and Dallas offices, exclusively represented the seller, Kalantari Group, led by principal Amir Kalantari. Solomon and Levy also procured the out-of-state buyer.
Built in 2015, Shops at Lakeline is located at 115 S Lakeline Blvd. The property consists of three buildings on a 1.9-acre parcel and is fully occupied by tenants including Domino's Pizza, VCA Animal Hospital, Cedar Park Dental, and Lakeline Nails and Spa. Positioned near a dense residential area with over 175,000 residents within a five-mile radius, it is also close to a major retail corridor with national retailers such as Walmart, Costco, and Target.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.