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Stratus sells HEB-anchored retail center in $114M deal

Larger HEB planned for Marble Falls.

Stratus Properties Inc. has inked a blockbuster deal to sell its new HEB Grocery Co.-anchored retail development in Lakeway for $114 million. The buyer of the Oaks at Lakeway is TA Realty LLC, a private real estate investment company headquartered in Boston with offices on the West Coast.

HEB Grocery Co. is the anchor tenant at the Oaks at Lakeway, which has been developed and delivered by Austin’s Stratus Properties during the past couple of years. The price point is an eye-opener for a neighborhood shopping center, but there are some conditions that must be met.

Stratus is on the hook to complete leasing of the remaining vacant space — about 20,000 square feet in existing structures and four pads earmarked for single-tenant development.

Click here to read the full article: Stratus sells HEB-anchored retail center in $114M deal Austin Business Journal 10-11-2016

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