You have reached your limit of free articles this month.

Enjoy unlimited access to myStatesman.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myStatesman.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myStatesman.com.

North Austin shopping center gets new owner, new tenant


Highlights

New York-based RD Management said this week it has acquired Shops at Tech Ridge.

Already, RD Management says it has signed a tenant to fill about half of the former SuperTarget.

A new owner is working to breathe life back into a North Austin shopping center that lost its primary tenant a year ago.

New York-based RD Management said this week it has acquired Shops at Tech Ridge, at 12901 N. Interstate 35 near East Parmer Lane.

The 504,153-square-foot center, which opened in 2003, had been anchored by a SuperTarget store until January 2016, when the retailer shuttered its location there citing “several years of decreasing profitability.”

Twelve other Target locations nationwide were closed at the same time, for the same reason.

Remaining tenants at Shops at Tech Ridge include Burkes Outlet, Conn’s HomePlus, Hobby Lobby, Party City, PetSmart, Ross and Toys “R” Us. Aside from the former SuperTarget building, the center is 96 percent occupied, RD Management said.

A purchase price was not disclosed. The Travis Central Appraisal District valued the former SuperTarget at $7.9 million last year. The rest of the shopping center was valued at $10 million.

Target owned its building, with Tech Ridge Austin LLC, a Florida firm, owning the remainder of the center, records show.

Already, RD Management says it has signed a tenant to fill about half of the former SuperTarget space. Floor & Décor, a flooring superstore, has leased 77,958 square feet of space in the building. About 95,000 square feet remain vacant.

RD Management says it plans to renovate the façade of the former SuperTarget so it can accommodate Floor & Décor, as well as one or more additional tenants.

The company says it will also carve out two additional pad sites along I-35 for small businesses such as restaurants or banks.

“Austin is expected to grow faster than any other large city in the country in the next 25 years,” Richard Birdoff, principal and president of RD Management, said in a written statement. “Shops at Tech Ridge presented us a unique opportunity to reposition a significant shopping center that will benefit from our expertise in these types of assets. Look for announcements of additional national and regional retailers and dining options that will be coming to the shopping center.”

Shops at Tech Ridge is the second Texas property that RD Management owns. The other is the Westcliff shopping center in Fort Worth.



Reader Comments ...


Next Up in Business

Navigating a remake of federal cybersecurity
Navigating a remake of federal cybersecurity

In 2007 on a featureless stretch of desert outside Kirkuk, Iraq, I stood with a young U.S. Army lieutenant trying to reconcile a crude, handheld GPS gadget with his laminated map. Ultimately, he failed. His interpreter asked a local for directions. Being lost was particularly frustrating because companies like Olathe-based Garmin sold easy-to-read...
Avideh Zakhor: The brains behind Google Earth and Street View
Avideh Zakhor: The brains behind Google Earth and Street View

BERKELEY, Calif. — For one of Silicon Valley’s most important inventions, we can thank Avideh Zakhor, creator of the technology that brought us Google Earth and Street View. Before there was Google Earth and Street View showing us around the world, there was Zakhor and her team driving a truck loaded with sensors around Berkeley and flying...
Lost for words? How to search online with your smartphone camera

On the hunt for new shoes? Racking your brain for a recipe idea? When you’re trying to find information, typing out words in a search bar is probably the first thought that comes to mind. Words can conjure up images and evoke emotions, but as the saying goes, a picture is worth a thousand words. Now, companies including Pinterest, Amazon and...
DIY battery swap can bring new life to your old phone

After a few painful years of very cheap android phones, we finally gave my mother-in-law an old iPhone 5 that we were no longer using. I bought it new in 2012. I handed it down to my wife in 2014, and we handed it down to my mother-in-law last fall. The phone still has plenty of life left in it, although it will likely stop getting iOS updates when...
Several decisions to be made before selecting new headphones
Several decisions to be made before selecting new headphones

Headphone season is in full force right now. If you’re about to make a new purchase, don’t get fooled with fancy marketing, colorful boxes or hype. Instead, consider these features when shopping around (the order of importance depends on you): wireless vs wired, earbuds vs over the ear, cost and sound quality (which would be No. 1 for me)...
More Stories