JV Rings Up 258,000-SF South Austin Shopping Center

AUSTIN (CBRE) – A joint venture between The Rainier Companies and Harbert Management Corporation has purchased Southpark Meadows III, a 257,988-sf shopping center on the city’s south side. The seller was locally based Endeavor Real Estate Group.

Southpark Meadows III, located at 9900 I-35, is within Southpark Meadows, Endeavor’s 425-acre mixed-use development that includes 1.6 million sf of retail.

The Class-A shopping center was developed in 2007 and is 93.8 percent occupied. It is anchored by Conn’s, Cinemark Theatre, Spec’s, Sheplers Western Wear and Half Price Books. It is shadow-anchored by Sam’s Club and Ashley Furniture.

Endeavor retains management and leasing. CBRE and Newmark Grubb Knight Frank represented the seller.