{"id":1004188060,"date":"2017-08-23T06:18:43","date_gmt":"2017-08-23T14:18:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004188060"},"modified":"2022-12-08T17:14:02","modified_gmt":"2022-12-09T01:14:02","slug":"austin-retail-center-sells-for-112m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/","title":{"rendered":"Austin Retail Center Sells for $112M"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004188061\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/The-Parke-Cedar-Park-Texas.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004188061\" data-attachment-id=\"1004188061\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/the-parke-cedar-park-texas\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/The-Parke-Cedar-Park-Texas-e1503497892535.jpg\" data-orig-size=\"1242,841\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Parke, Cedar Park, Texas\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/The-Parke-Cedar-Park-Texas-e1503497892535.jpg?w=1024\" loading=\"lazy\" class=\"wp-image-1004188061 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/The-Parke-Cedar-Park-Texas-e1503497892535.jpg\" alt=\"The Parke, Cedar Park, Texas\" width=\"300\" height=\"203\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/The-Parke-Cedar-Park-Texas-e1503497892535.jpg 1242w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/The-Parke-Cedar-Park-Texas-e1503497892535.jpg?resize=300,203 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/The-Parke-Cedar-Park-Texas-e1503497892535.jpg?resize=768,520 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/The-Parke-Cedar-Park-Texas-e1503497892535.jpg?resize=1024,693 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004188061\" class=\"wp-caption-text\">Aerial view of The Parke in Cedar Park, Texas<\/p><\/div>\n<p>InvenTrust Properties Corp. acquired The Parke, a 404,000-square-foot, newly developed grocery-anchored power center located in Austin&#8217;s Cedar Park submarket. The company paid approximately $112.3 million to Austin-based developer Endeavor Real Estate Group.<\/p>\n<p>The Parke is anchored by a new 365 by Whole Foods. The tenant roster includes national retailers such as Dick\u2019s Sporting Goods, Field &amp; Stream, Nordstrom Rack, Marshalls, DSW, Michaels, Old Navy, buybuy Baby, Cost Plus, F21, Petco, Ulta, and Tuesday Morning. The asset features ample parking, five points of ingress &amp; egress and contemporary architecture.<\/p>\n<h2><strong>Fast-growing location<\/strong><\/h2>\n<div id=\"attachment_1004188062\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rendering-of-The-Parke.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004188062\" data-attachment-id=\"1004188062\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/rendering-of-the-parke\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rendering-of-The-Parke.jpg\" data-orig-size=\"1105,553\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rendering of The Parke\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rendering-of-The-Parke.jpg?w=1024\" loading=\"lazy\" class=\"wp-image-1004188062 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rendering-of-The-Parke.jpg\" alt=\"Rendering of The Parke\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rendering-of-The-Parke.jpg 1105w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rendering-of-The-Parke.jpg?resize=300,150 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rendering-of-The-Parke.jpg?resize=768,384 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Rendering-of-The-Parke.jpg?resize=1024,512 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004188062\" class=\"wp-caption-text\">Rendering of The Parke, Cedar Park, Texas<\/p><\/div>\n<p>Located on a 42-acre site at 5001 183A Toll Road, 17 miles from Downtown Austin, the property is in close proximity to Cedar Park Center, Cedar Park Regional Hospital and the new Dell Children\u2019s Hospital Center. Cedar Park has grown by 400 percent in the last decade and was ranked twice by the U.S. Census Bureau as the fastest-growing city in the country. The property benefits from exposure to more than 62,000 vehicles per day on Highway 183A and 40,000 on FM 1431, in an area where within a five-mile radius the average household income is roughly $97,000.<\/p>\n<p>\u00a0\u201c<em>This transaction upgrades our grocery-anchored portfolio in one of our key target Texas markets,<\/em>\u201d said Michael Podboy, CFO\u00a0&amp; CIO\u00a0of InvenTrust, in prepared remarks. \u201c<em>This property provides us grocer diversification with our first 365 by Whole Foods and provides future income growth opportunities rare for grocery-anchored properties. The Parke is also located at a strong retail corridor in one of Austin\u2019s most affluent and fastest-growing suburbs.<\/em>\u201d<\/p>\n<p>\u201c<em>The acquisition of The Parke demonstrates our progress executing on our objective to enhance our portfolio with Sun Belt assets. Further, The Parke is an excellent fit for InvenTrust with its exceptional geographic location allowing us to gain additional economies of scale within Central Texas following our <a href=\"https:\/\/www.commercialsearch.com\/news\/the-shops-at-the-galleria-in-texas-hill-country-has-a-new-owner\/\" target=\"_blank\" rel=\"noopener noreferrer\">Shops at the Galleria acquisition<\/a> in 2016,<\/em>\u201d added Christopher Covey, senior vice president of transactions.<\/p>\n<p>InvenTrust became a self-managed REIT in 2014 and currently owns and manages 85 retail properties encompassing approximately 15.2 million square feet. Earlier this year, InvenTrust acquired a retail center anchored by Safeway in Germantown, Md., for $53.6 million.<\/p>\n<p><em>Images courtesy of Endeavor Real Estate Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>InvenTrust Properties Corp. bought the 404,000-square-foot asset from a local developer. Anchored by a 365 by Whole Foods, the property is located in a rapidly growing submarket.<\/p>\n","protected":false},"author":1192,"featured_media":1004507266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21743,21742,21749],"tags":[37340,35184,33161],"class_list":["post-1004188060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-deals","category-latest","category-retail","tag-cedar-park","tag-endeavor-real-estate-group","tag-inventrust-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Austin Retail Center Sells for $112M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Austin Retail Center Sells for $112M\" \/>\n<meta property=\"og:description\" content=\"InvenTrust Properties Corp. bought the 404,000-square-foot asset from a local developer. Anchored by a 365 by Whole Foods, the property is located in a rapidly growing submarket.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-23T14:18:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:14:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1800\" \/>\n\t<meta property=\"og:image:height\" content=\"886\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mihaela Coste\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/\",\"name\":\"Austin Retail Center Sells for $112M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg\",\"datePublished\":\"2017-08-23T14:18:43+00:00\",\"dateModified\":\"2022-12-09T01:14:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/84db22c1406ebbb161906ccf4f43d508\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg\",\"width\":1800,\"height\":886},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Austin Retail Center Sells for $112M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/84db22c1406ebbb161906ccf4f43d508\",\"name\":\"Mihaela Coste\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g\",\"caption\":\"Mihaela Coste\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/mihaelacoste\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Austin Retail Center Sells for $112M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/","og_locale":"en_US","og_type":"article","og_title":"Austin Retail Center Sells for $112M","og_description":"InvenTrust Properties Corp. bought the 404,000-square-foot asset from a local developer. Anchored by a 365 by Whole Foods, the property is located in a rapidly growing submarket.","og_url":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-08-23T14:18:43+00:00","article_modified_time":"2022-12-09T01:14:02+00:00","og_image":[{"width":1800,"height":886,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg","type":"image\/jpeg"}],"author":"Mihaela Coste","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/","url":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/","name":"Austin Retail Center Sells for $112M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg","datePublished":"2017-08-23T14:18:43+00:00","dateModified":"2022-12-09T01:14:02+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/84db22c1406ebbb161906ccf4f43d508"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg","width":1800,"height":886},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/austin-retail-center-sells-for-112m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Austin Retail Center Sells for $112M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/84db22c1406ebbb161906ccf4f43d508","name":"Mihaela Coste","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g","caption":"Mihaela Coste"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/mihaelacoste\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Parke-Cedar-Park-Texas.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004188060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1192"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004188060"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004188060\/revisions"}],"predecessor-version":[{"id":1004532297,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004188060\/revisions\/1004532297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004507266"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004188060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004188060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004188060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}