AUSTIN, Texas--(BUSINESS WIRE)--World Class Capital Group, LLC (http://www.wccapitalgroup.com/), an Austin-based private investment firm, announced today that it has acquired an existing 42,000 square foot retail center in Austin, Texas. The center is located in North-Central Austin at 8120 Research Blvd – the corner of Highway 183 and Anderson Square. World Class plans to start a large renovation to reposition the property as Crestview Crossing.
The largest tenant is the iconic Austin comedy venue, Capitol City Comedy Club. Capitol City Comedy Club will remain in the center as a part of the redevelopment.
“We are excited about the repositioning opportunity for this center,” said Nate Paul, President and CEO of World Class Capital Group. “We plan to make immediate capital improvements to reposition as Crestview Crossing, a neighborhood retail center for a budding community. We see enormous potential in the North-Central Austin market, and this acquisition allows us to capitalize on the area’s high growth and strong demographic trends.”
Chris Skyles of SkylesBayne represented World Class in its purchase. The property is currently 86% occupied.
World Class owns and operates real estate assets in 12 states and 25 markets.
About World Class Capital Group, LLC
World Class Capital Group, LLC is a leading private real estate investment firm based in Austin, TX. The firm pursues opportunities in all U.S. markets and has a distinct focus on value-add and core plus real estate investments. World Class targets investments across a broad range of asset types through single-asset and portfolio acquisitions and is also an active acquirer of real estate debt.
WCCG’s primary focus is the acquisition of complex or undervalued real estate assets with the opportunity to create value through repositioning, redevelopment or leveraging its exceptional property and asset management platform to create operational efficiencies. WCCG’s portfolio includes investments in office, retail, industrial, multifamily, self-storage and land. Please visit our website for more information: www.wccapitalgroup.com.