Investment Highlights

Attractive, Value-Add Investment Opportunity in Booming Austin, Texas MSA.

Sky Ridge Plaza is currently 96% leased with 145,457 square feet of prime retail space strategically positioned at the northwest corner of Interstate 35 and Hesters Crossing, directly across from DELL’s sprawling worldwide corporate headquarters/campus. Shadow-anchored by Flix Brewhouse and Guitar Center, Sky Ridge Plaza consists of a diversified mix of thirty-five (35) national, regional and local retailers and restaurants. Iron Forge Gym (occupies former Golds Gym space) signed a new 10 year lease in 2024 and operates 24 hours a day. The offering for Sky Ridge Plaza also includes an undeveloped, ½ acre outparcel fronting Interstate 35.

Popular, Infill Shopping Center with Regional Draw and Exceptional Highway Frontage .

Built in 1987, Sky Ridge Plaza is a well-established, daily needs shopping center that is bound by two (2) high-traffic thoroughfares with more than 273,556 vehicles passing by the center daily. According to Placer.ai, there are more than 1.9 million customer visits annually at Sky Ridge Plaza. There are eight (8) perimeter access points and two large multi-tenant pylon signs throughout the center. Sky Ridge Plaza is adjacent to La Frontera Village, a 556,000 square foot power center that sits at the intersection of I-35 and Hwy. 45, which is deemed “the sales tax capital of Texas”. Along the southeast quadrant of this major intersection (next to Target), a $500 million mixed-use development called The District has broken ground.

Cash Flow Stability with Tremendous Mark-to-Market Rent Opportunities.

The average base rent for tenants at Sky Ridge Plaza is $22.87 per square foot which is considered well below market for comparable shop space. In the immediate submarket, base rents for competing centers typically average $32-$38/SF (for comparable space and size) thereby creating a significant opportunity to materially increase rents. A whopping 84% of existing tenants at Sky Ridge Plaza do not have renewal options (or can renew at Future Market Value), allowing an investor to substantially increase rents and net operating income. Over a 10-year hold period, the compound annual growth rate (CAGR) is 2.84% based on organic rent growth.

Excellent Demographic Profile with Strong Daytime Population.

Within a 1 & 3 mile radius of Sky Ridge Plaza, average household income is $92,785 and $117,078 while the surrounding population includes 11,895 residents and 91,870 residents, respectively. Within a 5-mile radius, the population includes 264,247 residents with avg. household income of $132,525. Within a 3-mile radius, the projected annual population growth rate is 1.4% from 2025-2030 with income increasing over 1.6% annually.