This property is Off-Market

4631 Airport Boulevard
Austin, TX 78751 ·

47,971 SF · Retail For Sale

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Concorde Center

Price N/A Cap Rate 7.90%
Gross Leasable Area 47,971 SF Occupancy 100%
Property Type Retail No. Stories 1
Property Sub-type
Strip Center
More...
  • Street Retail
  • Retail (Other)
  • Neighborhood Center
Tenancy Multiple
Property Use Type Investment Year Built 1985
Listing ID: 14751639 Date Created: 08/16/2006 Last Updated: 01/09/2007

Description

We are pleased to exclusively offer Concorde Center, a 47,971-square-foot Dollar General-anchored shopping center located on Airport Boulevard in Austin, Texas. Developed in 1985, Concorde Center has experienced healthy leasing activity. With the leases in progress, the center will be 95% occupied.

Additionally, the Robert Mueller Airport redevelopment, which is just to the northeast of Concorde Center, is projecting 10,500 new jobs to be added in the immediate area, ranging from doctors at the Dell Children s Medical Center of Central Texas to shop clerks at local retail stores. The entire 711-acre project will eventually be home to more than 10,000 people and 4,632 dwelling units. Moreover, the 3.8 million square feet of offices and over 350,000 square feet of retail will create a super-regional destination that will directly benefit the neighborhoods immediately surrounding the nation s largest urban infill project.

This falls on the heels of the Capital Plaza redevelopment (Capital Plaza is also just to the northeast of Concorde) that involved a Montgomery Ward store s conversion to a brand-new Target, a Weiner s into a Ross Dress for Less, a JoAnn s Fabrics into a Dollar Tree, a Fashion Bug into a Shoe Carnival (Fashion Bug relocated within the center), a Friedman s into a Rainbow Apparel, a LotsOff into a Conn s TV & Appliance and roughly half of a vacated Toys R Us space into a K&G Fashion Superstore. On top of all of these tenant upgrades and additions, Capital Plaza also underwent a complete makeover and modernization of its exterior fascia, signage and pylon sign, changes which brought the oldest shopping center in Austin into the 21st century!

Highlights

  • Dense population
  • Close to Mueller redevelopment
  • Short and long term upside
  • Central Austin location
  • Low maintanence

Research

4631 Airport Boulevard, Austin, TX 78751 (Travis County)

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