Austin

Austin Mixed-Use Development, Burnet Marketplace, Quickly Absorbs Retail

Posted on 6.14.16 by Kim McClellan in Retailer Spotlight

Pour House Pub slated to open in June; Spavia Day Spa, King & Rose Optical and Barley Bean have also signed on

AUSTIN, Texas – June 14, 2016 – CBRE and Argyle Residential announce that the ground floor retail at Burnet Marketplace, a new multifamily development in central Austin, Texas, has reached 85 percent occupancy. The 343-unit, five-story development, with 10,858 square feet of retail space, was completed in April 2016.

Burnet Marketplace, at 6701 Burnet Road, was developed on the former site of Pour House Pub, a longtime Austin establishment. The neighborhood bar anticipates opening this month in approximately 2,798 square feet at the new development, with a 1,500-square-foot outdoor patio underneath a preserved heritage tree.

New tenant updates:

  • King & Rose Optical curates independent label and artisan eyewear and sunwear. The 833-square-foot eyewear boutique anticipates opening in July 2016.
  • Spavia, a day spa with locations in 10 states, including two in Texas, will open in fall 2016 in 3,230 square feet.
  • Barley Bean, an Austin-based café, will occupy 2,408 square feet and anticipates opening in fall 2016. This will be the third new location for the local café, which serves fine coffee, craft beers and a healthy choice of paninis, smoothies, fresh juices, teas and specialty groceries.

One 1,589-square-foot retail space is available for lease.

“The diverse and appealing local tenant mix that we have assembled at Burnet Marketplace offers convenient amenities for our residents, as well as the surrounding neighborhoods. Burnet Road continues to evolve and is establishing itself as one of the more prolific retail corridors in Austin and we are excited for our tenants to become a part of that story,” said Chase Hill, Development Manager, Argyle Residential.

“We are pleased to bring these four locally owned businesses to Burnet Road as part of the new Burnet Marketplace development. Burnet Marketplace is at the center of a new and exciting stretch of Burnet Road that also includes Barley Swine, El Chilito, The Aristocrat, Lick Ice Cream, Bufalina Due, Finley’s, and The Frisco,” said John Heffington, Vice President of CBRE.

Mr. Heffington and Eric DeJernett, with CBRE’s Austin office, are the exclusive retail leasing advisors for Burnet Marketplace.

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Major Austin Retail Center Adds More Local Brands

Posted on 5.18.16 by Kim McClellan in Retailer Spotlight

Austin Film Society and Pluckers Wing Bar join Easy Tiger, VIVO and Lima Criolla

AUSTIN, TexasMay 18, 2016 – CBRE and Misuma Holdings announce new leases for Pluckers Wing Bar and Austin Film Society at The Linc, a 180,000-square-foot retail center in central Austin, Texas. The Linc is in the midst of a multimillion-dollar renovation to enhance key areas for outdoor dining and entertainment, improve pedestrian accessibility and emphasize environmentally friendly landscaping. 

New and existing tenant updates:

  • Pluckers Wing Bar has signed an 8,200-square-foot lease for its sixth Austin location. The restaurant will feature a large outdoor dining space and will open in summer 2017. Scott Carr and Travis Waldrop with Carr Development, Inc. represented Pluckers.
  • Austin Film Society, a non-profit arts organization founded by filmmaker Richard Linklater, recently announced plans to open a two-screen art house cinema in the space formerly known as the Marchesa Hall and Theater. In addition to expanding its offering of museum-quality curated film programming, AFS will host special events in the 18,000-square-foot space. The theater and event venue will be temporarily renamed AFS Cinema and after extensive renovations will reopen with new branding and a full bar and café service in early 2017.
  • Easy Tiger Bake Shop and Beer Garden’s second Austin location is under construction and the restaurant anticipates opening in summer 2016.
  • VIVO Modern Tex Mex celebrated one year at The Linc at the end of 2015 and is adding a landscaped outdoor patio.

“We are thrilled to support these great Austin brands as they expand their local presence at The Linc,” said Dean Davidov of Misuma Holdings. “Our vision to create a destination for dining, entertainment, and retail services that gathers together the best of Austin’s culture has been our driving force.  We will continue to seek the best local operators to open at The Linc.”

“Pluckers is very excited about opening our first Austin location in seven years at The Linc,” says Pluckers Co-Founder Dave Paul. “We believe the Highland Mall area has been underserved for many years and will see a retail and restaurant renaissance, which we wanted to be at the forefront for.”

“We are pleased to add the Austin Film Society and Pluckers to our maturing lineup of destination food, beverage, entertainment and retail brands at The Linc. A myriad of new and interesting businesses are opening along Airport and North Lamar Boulevards, and The Linc is part of the North Central Austin transformation. We see continued momentum for new and exciting retail uses throughout the area with ACC Highland as one of the key catalysts for new growth,” said Eric DeJernett, Senior Vice President, Retail, CBRE.

Mr. DeJernett and John Heffington, with CBRE’s Austin office, are the exclusive retail leasing advisors. CBRE also manages the property.

Images available here.

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Misuma Holdings Breathes New Life Into Another Austin Retail Center

Posted on 5.16.16 by Kim McClellan in Uncategorized

Highland Village to be renamed the Crescent; two new tenants already signed on

AUSTIN, Texas – May 16, 2016 – On behalf of Misuma Holdings, CBRE announces significant capital improvements and a project re-branding for Highland Village, a 120,000-square-foot neighborhood shopping center at 6929 Airport Boulevard in Austin, Texas. The project is at the intersection of Airport Boulevard and Lamar Boulevard in the Crestview Station transit district. The center will be renamed the Crescent and receive extensive façade and exterior improvements, parking lot upgrades, a reimagined pylon sign, new monument and directional signage, as well as new landscaping.

“With the surge of revitalization along North Lamar, spurred by the redevelopment of Highland Mall, we saw an opportunity to refresh one of the larger retail centers in the area. The Crescent will be a curated center with a thoughtful tenant mix that offers new and different experiences for Austinites,” said Dean Davidov, Partner, Misuma Holdings.

Supermarket chain 99 Ranch Market will anchor the project, opening its first Austin location (and fifth in Texas) at the Crescent in early 2017. The California-based supermarket offers fresh produce, meat and seafood, along with Chinese, Korean, Japanese and American specialty grocery items. 99 Ranch Market was established in 1984 and has grown to become one of the largest Asian supermarket chains in the United States, with more than 43 locations in California, Nevada, Texas, New Jersey and Washington State.

Kula Revolving Sushi Bar has also signed on to bring its interactive, conveyor belt delivery system to Austin. The concept originated in Japan (where Kula has over 360 restaurants) and has taken hold along the west coast, where Kula has multiple locations, and now in Texas. Customers can pick fresh sushi plates off a revolving conveyor belt; if a desired item is not rotating, customers can place orders using the table’s iPad. Kula expects to open in fall 2016.

Eric DeJernett and John Heffington, with CBRE’s Austin office, are the exclusive retail leasing advisors. CBRE also manages the property.

“Allan and Dean Davidov have a real passion for reimagining outdated properties and breathing new life into projects that have good locations and good ‘bones.’ Their confidence in Austin began at The Linc next to ACC Highland where they are in the midst of a significant renovation and we are attracting best of class tenants like Easy Tiger, Austin Film Society, Pluckers Wing Bar, with more exciting announcements yet to come,” said Mr. DeJernett, Senior Vice President, CBRE.

The Crescent is across from Midtown Commons, a rapidly growing mixed-use development, and near the Crestview Station Capital Metro rail line and ACC Highland mixed-use redevelopment. CBRE is marketing multiple retail lease availabilities at the center.

A selection of images available here.

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CBRE Capital Markets Brokers Austin Retail Asset Acquisition

Posted on 1.27.16 by Kim McClellan in Uncategorized

AUSTIN, Texas – January 27, 2016 – CBRE Capital Markets’ Investment Properties announces the sale of The Ridge, a 19,300-square-foot, multi-tenant retail center in Austin, Texas. A Dallas-based private investor purchased the asset from Austin-based SRS Real Estate Partners for an undisclosed price.

The Ridge is a fully occupied, two-building retail center at 12601 Tech Ridge Boulevard, in the north Austin technology corridor. The retail asset serves surrounding multifamily and single-family neighbors, as well as employees and visitors of the one-million-square-foot GM & Dell campus across the street. It is also in the immediate vicinity of PARMER, a 300-acre, Class A master-planned corporate office park currently under development by Karlin and Trammell Crow Company.

Notable tenants include Sherwin Williams, Fred Loya Insurance, Little Woodrow’s and Brooklyn Pie Co. The asset is shadow-anchored by Walgreens.

“The recent opening of Little Woodrow’s at The Ridge will have a positive impact on the center. The popular bar should increase customer traffic and provide a benefit to the co-tenants. The location is strong with large area employers, existing apartments, and future commercial and residential development,” said Logan Reichle, Associate, CBRE.

Walter Saad, Cathy Nabours and Logan Reichle, with CBRE’s Austin office, represented the buyer. Ryan Hoff, with SRS Real Estate Partners, represented the seller.

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J.T. Youngblood’s Opening First Location at Mueller’s Aldrich Street District

Posted on 1.26.16 by Kim McClellan in In the News

Austin hospitality trio revitalizing one of the first farm-to-table concepts in Texas

AUSTIN, Texas – January 26, 2016 – J.T. Youngblood’s, inspired by a legendary Texas fried chicken restaurant chain from the 1940s – 1960s, will open its first location in Mueller’s Aldrich Street District in Austin, Texas, in 2016. The 4,600-square-foot, counter-service restaurant will be located in The Diamond Building, adjacent to The Thinkery at the intersections of Aldrich Street, Simond Avenue and McBee Street. The mixed-use office and retail building is currently under construction.

J.T. Youngblood’s will serve fried and oak-roasted chicken along with a selection of delicious and healthy sides, house-made pies, shakes, beer and signature cocktails.

The team behind J.T. Youngblood’s is Todd Duplechan, owner and chef at Lenoir; Jeff Weinberger, co-founder of Jeffrey’s; and Jeff Haber, former general manager of Trio at Four Seasons, Austin.

“This chef’s take on a chicken recipe I grew up with will update what was for my family and myself, an unforgettably wonderful dining experience,” says Weinberger. 

Chef Todd adds, “Our focus is to serve the highest quality, great tasting food we’re capable of creating – the kind of food we’d serve to our own families.”

CBRE’s Eric DeJernett represented J.T. Youngblood’s in site selection and lease negotiations.

“J.T. Youngblood’s is a very exciting concept with deep roots in Texas and a great team behind the operation. When you have a serious chef behind a reasonably priced, fast casual offering you know you have the potential for a big success. This is a wonderful combination of Southern food history and contemporary Austin restaurant savvy,” said Mr. DeJernett, Senior Vice President, CBRE.

Sergio Negrete and John Heffington, with CBRE | UCR, represented the landlord and developer, Catellus Development Corp.

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