R
egency Centers, a Florida-based REIT, has expanded its presence in Central Texas with the acquisition of University Commons, an H-E-B-anchored retail property north of Austin. The 218,000-square-foot shopping center in Round Rock was acquired from LaSalle Investment Management, with CBRE facilitating the transaction on behalf of the seller. Regency opted to forgo broker representation.

    The purchase aligns with Regency's focus on established retail centers in high-demand locations, including three other H-E-B-anchored properties in the Austin metro. University Commons benefits from its proximity to major retail destinations and is 94% leased, featuring tenants such as T-Mobile, AT&T, Mattress Firm, and Summer Moon Coffee.

    Regency's managing director of transactions, Barry Argalas, notes that opportunities to acquire dominant H-E-B centers in Austin are rare, making University Commons a strategic fit. The property has seven available spaces ranging from 1,500 to 2,853 square feet, with H-E-B occupying approximately 131,000 square feet.

    Regency's Austin-area properties boast a 98% lease rate, according to managing director Patrick Krejs. San Antonio-based H-E-B is known for its real estate playbook, which often precedes other retail and multifamily developments in the area.