SRS Real Estate Partners announced the sale of The Shops at Greenlawn, a 22,970-square-foot retail center located at 3200 Greenlawn Boulevard in Round Rock, Texas, within the Austin MSA. The property, which is 92% occupied by nine tenants, was sold by Mathias Partners, an Austin-based investment and development firm, to an out-of-state global real estate investor. The SRS Capital Markets team, including Managing Principal Cathy Nabours, Vice President Kyle Shaffer, and Senior Associate Sam Nichols, represented the seller.
According to Nabours, the transaction underscores the intense competition for retail assets in demographically strong regions. “Demand from investors looking to buy retail assets in strong demographic regions is the highest our team has ever seen – not only in Austin, but also in surrounding Central Texas communities where the construction of new housing subdivisions has far outpaced new retail construction,” she said. Shaffer noted that the acquisition aligns with the buyer’s strategy to acquire unanchored high-quality essential service retail centers.
The Shops at Greenlawn benefits from its location near the headquarters of Dell Technologies, which recently mandated a five-day in-person work week, boosting local daytime population. The center is also across the street from a H-E-B Grocery store and adjacent to the future site of The District, a 65-acre mixed-use development by Mark IV Capital. The District is expected to become a premier regional destination for shopping, dining, offices, and Class A residential units.
This sale marks the third multi-tenant shopping center the SRS team has sold in the past three months. Year-to-date, SRS Capital Markets has completed over $1.2 billion in deal volume across more than 350 transactions nationwide. The firm currently has over 845 properties on the market with a combined value exceeding $3.7 billion, reflecting sustained investor appetite for retail real estate.
The transaction highlights the resilience of essential-service retail centers in secondary markets like Round Rock, where population growth and limited new retail construction are driving asset values. As remote work policies shift and large employers like Dell call employees back to offices, retail properties near major employment hubs are increasingly attractive to investors seeking stable, long-term returns.
