BH Properties, a Los Angeles–based real estate investment company, has acquired Round Rock Crossing, a 245,592-square-foot strip retail center in the Round Rock suburb of Austin.
Built from 2004 to 2006, the eight-building property is located within a major retail corridor in the southeast quadrant of the intersection of I-35 and State Highway 45 Toll Road. Round Rock Crossing is currently 52 percent occupied by 18 tenants, including Best Buy, Michael’s, Dollar Tree, Vitamin Shoppe, Five Guys and Salons by JC. Shadow-anchored by Target, the center is situated on 31.54 acres, 5.4 of which are undeveloped, allowing for an additional phase of development.
Following major store closings and tenant bankruptcies, the center’s occupancy dropped to a historical low. The property was foreclosed on in May 2021 and brought to market for sale in November 2021 by order of the special servicer. BH was able to acquire the institutional-quality retail center located in one of
