Stratus Properties Sells Lantana Place Retail In Austin For $57.5M

The property asset involved in the transaction is Lantana Place-Retail, located at 7415 Southwest Parkway in the Austin market. The asset was sold for $57,500,000, encompassing a total square footage of 99,377, resulting in a price per square foot of $579.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $57,500,000
• Seller: William H. Armstrong III
• Seller's Agency: Stratus Properties
• Pre-tax Net Cash Proceeds: $26,900,000
• Additional Features: The seller retains the adjacent Saint Julia 210-unit multifamily project and entitlements for 160,000 square feet of commercial development within the Lantana community.

William H. Armstrong III represented the seller in this closed transaction, facilitating the sale of the retail asset while ensuring that Stratus Properties maximized its proceeds from the investment.