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3021 South Interstate 35

Desi Brothers Signs Lease For 48,000-Square-Foot Retail Space In Round Rock Crossing
LEASEDRetail

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

Britt Morrison

Weitzman⁠

Broker

2 deals

Broker

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