Shops at Hero Way is a 100 percent occupied, 23,566-square-foot, multi-tenant retail center located in Leander, Texas (Austin MSA). Newly constructed in 2023, the subject property is comprised of two multi-tenant buildings featuring two drive-thrus, situated on a 2.93-acre parcel with ample concrete parking. Tenants are a complementary mix of national, regional and local retailers, including Jeremiah’s Italian Ice, Results Physiotherapy, the UPS Store, VIP Nails, Top Barrel Liquor, Cheba Hut “Toasted” Subs, PJ’s Coffee, Smile Fit Orthodontics, and Salons by JC. Two end cap suites, Jeremiah’s Italian Ice and PJ’s Coffee, have drive-thru windows. All leases are triple-net, 10-year leases (with the exception of one tenant), and all leases included schedule rent escalations during the primary terms.
The subject property is located on Hero Way West, near the intersection of U.S. Highway 183. The center benefits from multiple ingress and egress points and has traffic counts of 17,412 vehicles per day. Positioned around one-half mile of H-E-B plus!, the subject is surrounded by national and regional retailers including Whataburger, Chipotle Mexican Grill, Hand and Stone Massage and Facial Spa, Quest Diagnostics, Domino’s, H&R Block, GameStop, Supercuts, Subway, Menchie’s Frozen Yogurt, Chase Bank, T-Mobile, Chase Bank, Burger King, Taco Bell, and many more. The Metro Rail Leander Station and Austin Community College – San Gabriel campus are in close proximity, providing additional traffic to the area.
- 23,566-Square-Foot Retail Center | Comprised of Two Multi-Tenant Buildings
- New 2023 Construction Featuring a Modern Façade with Metal Awnings | Two End Cap Suites have Drive-Thru Windows
- 100% Leased | All Leases are Triple-Net | All Except One Lease are New 10-Year Terms
- Tenants are a Complementary Mix of National, Regional and Local Businesses | National Tenants Include Salons by JC, The UPS Store, PJ’s Coffee, and Results Physiotherapy
- All Leases have Rent Escalations and Options for Renewal | 100% of the GLA have Personally Guaranteed Leases
- Current Average Rents are Below Market
- Close Proximity to the Newest Austin Community College – San Gabriel Campus | Serving Leander, Liberty Hill, Georgetown, and Surrounding Communities
- Neighboring Retailers Include H-E-B plus!, Whataburger, Chipotle Mexican Grill, Quest Diagnostics, Domino’s, H&R Block, and Many Others
- New Mixed-Use Developments Near H-E-B plus! on Highway 183 will Drive Additional Traffic | Southbrook Station Sits in Front of New Arroyo Roble Townhomes (125 Units) and The Southbrook Apartment Homes (360 Units) | Northline Development is a 116-Acre Mixed-Use Project Featuring Retail, Office, a Hotel, and 2,240 Multifamily Units
- Nearby Residential Developments in Progress Include Devine Lake (380 Lots), Hawkes Landing (260 Lots), Carnero’s Ranch (233 Lots), Carnero’s Village (240 Lots), Senior Village at Leander Station (192 Lots), Retreat at Oak Creek Apartments (360 Lots), The Standard at Leander Station (255 Lots), Trailside Oaks Townhomes (82 Lots), and Many More
- Highly Affluent Surrounding Area | Average Household Income for the City of Leander is $157,371
- Located in a Fast-Growing Area just North of Austin, and Part of the Greater Austin Metropolitan Area | City is Positioned at the Intersection of Ranch to Market Road 2242 and U.S. Route 183, Approximately 22 miles Northwest of Austin and Five Miles East from Georgetown
