The Austin Business Journal reported that JC Penney will be opening two locations in Austin. The first is at Tech Ridge in North Austin and the second is at Southpark Meadows in South Austin. I wanted to bring this up because those two retail centers are doing quite well. They've attracted good, stable, long-term tenants and are examples of what is to come in Austin.
Southpark Meadows is right of IH 35 in South Austin off Slaughter Lane. For those of you who are not familiar with Austin, any street past Ben White BLVD (about 10 mins north of Slaughter Lane) used to be far, far South. As a matter of fact, Slaughter Lane used to be the marker for when you are pretty-much out of Austin and well on your way to San Antonio. Now, the three-phase 425-acre parcel of land at this intersection is well on the way to being one of the premier retail developments in Austin. I'd previously reported that the city is eyeing land near Southpark Meadows
for a "multi-modal" transit station, similar to what is found at Tech Ridge in far North Austin.
Both TechRidge as well as Southpark Meadows are family-oriented shopping areas near busy residential developments. Both are also right off IH35 in high-growth areas that will see even more residential developments on the way. Investors should heed the foresight of J.C. Penney by finding investments in and around these areas. They will definitely appreciate in upcoming years as more commercial and residential business comes to town.
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