PEBB Completes Purchase of Remaining Retail at Walden Park in Austin, TX

PEBB  has acquired the remaining 33,636 square feet of the retail development that makes up Walden Park, a regional shopping center in the Cedar Park suburb of Austin, Texas in an off-market transaction. The center was 50% leased when PEBB Enterprises entered into the purchase contract and was 85% leased at the time of closing.

In 2013, PEBB purchased 58,000SF of the center which is shadow anchored by Super Target.  Walden Park sits directly across Highway 183 from Lakeline Mall, which is a 1.1 million square foot enclosed regional mall.

Ian Weiner PEBB President & CEO remarked on the acquisition saying, “We’re pleased to add the balance of Walden Park to our portfolio gaining full control of the center and to capitalize on the strong leasing demand for vacancy in this market.  There’s a strong pipeline of incoming single-family and multi-family development in the area which enhances the performance of this center.”

The Walden Park line-up includes Homegoods, Ulta, Kirklands, Massage Envy, Panera, First Watch, Sally Beauty Supply, Coldwell Banker, Any Lab Test Now and others.