Desi Brothers Signs Lease For 48,000-Square-Foot Retail Space In Round Rock Crossing
3021 South Interstate 35 & 3203 South Interstate 35
Building Size
96,000 SF
Asset Type
Retail
Closing
Nov 15, 2023
AI
Austin-based retailer Desi Brothers is set to open a new 48,000-square-foot store in Round Rock Crossing, one of the largest open-air retail leases in the Austin metro. The store, located at 3021-3203 South Interstate 35 in Round Rock, will specialize in products from the Indian subcontinent and the Middle East. With renovation costs of $2 million, the store is positioned between the size of Sprouts and H-E-B and is expected to employ approximately 30 people.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 3021-3203 South Interstate 35, Round Rock
- Market: Round Rock
- Asset Type: Retail
- Square Footage: 48,000
The landlord's representatives for this lease deal are Britt Morrison & Nick Naumann from Weitzman. Desi Brothers was represented by Michael DuBois from Pride Commercial Properties.
Players
Round Rock Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93