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November 23, 2009 WEITZMAN HANDLES SALE OF DOWNTOWN AUSTIN RETAIL AUSTIN—A New York City-based limited partnership has purchased the Shops at 360, the 13,770 square feet of street-level retail space that is a key feature of the 360 Condominiums in downtown Austin. The Weitzman Group handled negotiations; Weitzman’s Ryder Jeanes represented the purchaser, and Michele Gary, Adam Zimel and Lance Morris represented the seller, Atlanta-based Novare Group and Austin-based Andrews Urban LLC. 360 Condominiums is a striking 44-story condominium tower -- the second-tallest building in Austin -- at a site bounded by 4th Street, 3rd Street, Nueces Street and Shoal Creek in the heart of downtown Austin. Tenants in the retail space include Garrido’s Restaurant, Royal Blue Grocery, Lora Reynolds Art Gallery; Blu Café, Mulberry and Thundercloud Subs. The Weitzman Group, as exclusive leasing agent, took the retail space to approximately 96 percent leased, with one remaining space available. 360 Condominiums is within easy walking access to the downtown core, Lady Bird Lake and a number of retail and restaurant districts. 360 Condominiums’ location overlaps the burgeoning West End/Market District, anchored by Whole Foods and an array of specialty retailers, and the Warehouse/2nd Street Retail District, which includes a number of destination restaurants and specialty retailers. The site also is adjacent to the popular live music spot, Austin Music Hall, and Mellow Johnny’s Bike Shop, operated by Tour de France champion Lance Armstrong. 360 Condominiums retail space further benefits from the traffic generated by the growing downtown commercial, residential and retail market, as well as its proximity to the 430 homes above the 360 retail. .. . |
