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October 31, 2007
WEITZMAN HANDLES SALE OF AUSTIN COMMUNITY CENTER AUSTIN—RPSC, Ltd., has sold Riverside Place Shopping Center, a 101,175-square-foot community center shadow-anchored by H-E-B grocery, to HK Capital, a Houston-based real estate investment company. Lance Morris with the Austin Commercial Retail Division of The Weitzman Group handled negotiations on behalf of the seller, RPSC Ltd.. Weitzman has leased the center since 2001. Riverside Place is located at the northwest corner of East Riverside Drive and Pleasant Valley. Through its prime location in the heart of East Austin, the center offers excellent visibility along East Riverside Drive. Riverside Place, developed in 1994, is the dominant grocer-anchored center in the East Austin corridor. It is situated on 9.4 acres in a mature trade area. In addition to H-E-B, the center’s shadow anchor, Riverside Place’s retail line-up includes Blockbuster Video, Wingstop, Mr. Gatti’s, H & R Block, Joy East Café and others. H-E-B is under way with a relocation just north of the current store location to accommodate a new 125,000-square-foot H-E-B Plus! super format. Weitzman will continue to lease Riverside Place; Simmonds and White will handle leasing. The center is the third retail property investment sale to be handled by Weitzman during recent months . |
