Crystal Falls Town Center In Leander Sold

LEANDER, TX — CBRE officials on Wednesday announced the sale of Crystal Falls Town Center, a 94,820-square-foot grocery-anchored shopping center in Leander.

Cypress Equities, based out of Dallas, sold the asset to an undisclosed buyer, officials said. The shopping center is located at 3441 Lakeline Blvd. off Highway 183 in an affluent suburb of Northwest Austin.

Anchored by a Randall’s grocery store, Crystal Falls Town Center boasts exclusive access to one of Austin’s fastest growing residential communities. Built in 2016 and 2017, the newly developed Class “A” retail center is 99 percent occupied by a strong mix of national and local tenants, including GNC, Starbucks, Orange Theory and Sprint.

The sale comes amid brisk municipal growth. Leander is one of the fastest growing cities in Texas, with 170 percent population growth since 2000. There are 116,035 residents within a five-mile radius of the shopping center, officials noted, with an average household income over $100,000.

Chris Cozby, Jim Batjer, Blaine Dozier and Mark Witcher of CBRE National Retail Partners represented Cypress Equities in the transaction.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.