PlaceMKR Purchases Retail Center in Austin
- Written by Newsfile
The 107,000-square-foot property is located along Project Connect and will be the beneficiary of the Orange light rail line connecting Downtown Austin to Tech Ridge.
This press release updates the press release previously disseminated on November 24, 2022, including the name of PlaceMKR's partner firm for their acquisition of a retail center in Austin.
Austin, Texas--(Newsfile Corp. - December 15, 2022) - PlaceMKR[1] announces that it has, in partnership with Hyperion Realty Capital and their Hyperion Real Estate Opportunity Partners Fund I, LP, purchased 10601 North Lamar Boulevard in Austin, Texas. The fully-leased retail center is located on 13.65 acres in Central Austin and is situated along Project Connect, which will provide convenient access to the Orange light rail line connecting Downtown Austin to Tech Ridge.
"We are thrilled to add this property to our portfolio," said Jesse Weber, Co-Founder of PlaceMKR. "It is a perfect example of our strategy of investing in the path of progress, as the property sits between two major employment centers at the Domain and Parmer Innovation Center."
The retail center is the latest acquisition by PlaceMKR in Austin, which has been one of the fastest-growing cities in the United States since 2018. The company has been an active investor and developer in the Austin market since then and currently owns and operates retail, residential, office, and industrial space in the city.
"This is an exciting time to be investing in Austin," said Christopher Cortese, Co-Founder of PlaceMKR. "We believe that this property will benefit greatly from the addition of the Orange light rail line and see an influx of development opportunities as the city embraces public transportation."
Hyperion Realty Capital[2] is a real estate fund focused on providing unique investment opportunities to its partners. The firm's Managing Partner Jon Mendis commented, "We are pleased to partner with PlaceMKR on this acquisition. This retail center is a great fit for our portfolio and will provide significant returns for our investors."
About PlaceMKR:
PlaceMKR is a real estate investment and development firm that specializes in identifying and acquiring properties in high-growth markets. Founded in 2018, the company has quickly become one of the largest owners of retail, office, and industrial space in Austin, TX. In addition to its investment activity, PlaceMKR is also an active developer, having completed several ground-up projects in the Austin market and more on the way.
For more information, please visit www.placemkr.com[3].
Press Contact:
Christopher Cortese512-821-2000Opportunity@placemkr.com[4]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148046[5]
References
- ^ PlaceMKR (placemkr.com)
- ^ Hyperion Realty Capital (portal-im.com)
- ^ www.placemkr.com (www.placemkr.com)
- ^ Opportunity@placemkr.com (www.newsfilecorp.com)
- ^ https://www.newsfilecorp.com/release/148046 (www.newsfilecorp.com)