Development
BY BRITTANY ANDERSON
Two North Austin shopping centers under new owners, revamp planned
Gateway Shopping Center
The Arboretum
What else?
The Arboretum improvements
Asana Partners plans to make various upgrades at the shopping center, including:
Edens plans to upgrade Gateway’s gathering areas to enhance the overall consumer experience, said Michael Hale, senior vice president of devel- opment and leasing. Renovations will include improving public areas and creating communal spaces, and work is expected to begin this year. The group also plans to backfill key vacancies in the center, such as the former Saks Off 5th space, and bring in new retailers through existing space or as space becomes available, Hale said. “The existing tenant lineup is very strong, which is another reason for expanding Edens’ portfolio here,” Hale said. “We plan to evolve the center in ways that serve the needs of the surrounding community and strengthen partnerships with national brands and local businesses.” Hale added that Edens’ acquisition of the center stemmed from its “accessible, strategic location” near Loop 360, US 183 and MoPac, saying it ben- efits from both robust daytime traffic and nearby office density.
According to a news release from Asana Part- ners, the group will make improvements across The Arboretum’s 197,105-square-foot open-air property that are designed to reflect the surround- ing neighborhood and reestablish it as a “premier shopping destination.” Officials cited the center’s location in the Great Hills neighborhood with convenient access to Loop 360, US 183 and MoPac as a key part of the acquisition. Per the news release, the improvements will build on the center’s park-like setting and include physical improvements, introduce activities for community engagement, and craft a merchandise mix that caters to the surrounding community. “North Austin is an attractive target market, and this acquisition supports our strategy of owning some of the best neighborhood retail in the country,” said Brad Kantrowitz, managing director of investments with Asana Partners. “We see an opportunity to invest capital and use our
The Arboretum and Gateway Shopping Center are not the only two retail shopping areas in Northwest Austin to undergo recent renovations. Located across the street, officials at The Domain announced in August 2023 that renovations across the property would take place throughout 2024 and 2025, including new green space areas and building facade updates. Planned renovations include modernizing bathrooms, adding a private nursing lounge, and repairing tile work around lamps and clock posts. Another component is the addition of just over 28,000 square feet of green space. Officials initially estimated the renovations would be complete in 2025, but work in the area is ongoing.
Reconfiguring common areas to support events such as live music, pop- up retail and community programming
Two major shopping centers off Research Boulevard are under new ownership with plans to revamp the properties. Real estate investment firm Edens announced its acquisition of Gateway Shopping Center in January, while Asana Partners announced its acquisition of The Arboretum on Feb. 4. Gateway’s current tenant lineup includes major retailers such as Whole Foods, Nordstrom Rack, Ulta, Best Buy and Regal Cinema. The Arboretum features a mix of national and local dining, retail and service tenants, including The Cheesecake Factory, Estancia Brazilian Steakhouse, Cafe du Bliss, Barnes & Noble, Pottery Barn and Ao5 Gallery.
THE DOMAIN
RESEARCH BLVD.
Adding patios for outdoor dining
The Arboretum
MOPAC
STONELAKE BLVD.
GREAT HILLS TRL.
183
Improving connectivity and wayfinding across the property
Gateway Shopping Center
360
New storefront signage and other enhancements
ARBORETUM BLVD.
N
SOURCE: ASANA PARTNERS/COMMUNITY IMPACT
Edens also owns Springdale Shopping Center in northeast Austin, while Asana Partners owns commercial space in Central Austin’s mixed-use development The Triangle.
experience with well-located properties like The Arboretum to restore vitality and position the center for the future.” Site work is slated to begin this summer and reach completion by early 2027.
HYMEADOW 12611 Hymeadow (512) 506-8401
NORTH 620 10601 N FM 620 (512) 506-8316 NORTH LAMAR 914 North Lamar (512) 214-6665
ARBORETUM 10515 N Mopac Expy (512) 342-6893
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