Shops At Teravista - Building III
NEW 2025, CLASS A CONSTRUCTION | 100% OCCUPIED WITH 10-YEAR NNN LEASES
Marketing description
Shops at Teravista - Building III is a newly constructed 9,321-square-foot, Class A multi-tenant retail center situated in the rapidly growing community of Georgetown, Texas. Completed in 2025, the property features three demised suites that are fully leased, with build-outs accommodating medical (pediatric dentistry), grocery, and wellness tenants. All leases are on new 10-year, triple-net terms, and include scheduled rent escalations during the primary terms.
Adjacent pad sites 7-Eleven, Dutch Bros Coffee, Guidepost Montessori, and a new multi-tenant center adjacent to the subject property (under construction) that will be anchored by Baylor Scott & White Institute for Rehabilitation. Market at 1460, a 55-acre mixed-use development, is currently under construction directly across Farm to Market Road 1460. Shops at Teravista is less than four miles away from Round Rock Premium Outlets, a 430,000-square-foot shopping mall featuring 125 stores, as well as Baylor Scott & White Medical Center - Round Rock. The medical center is currently undergoing a multi-phase renovation project, including construction of a new patient tower providing additional medical/surgical patient beds, a newly expanded ante- and post- delivery women’s unit, a new conference center, continuing medical education spaces, and administrative offices.
Investment highlights
NEW 2025, CLASS A CONSTRUCTION
The 9,321-SF property is a newly delivered, Class A multi-tenant retail asset featuring modern construction, zero deferred maintenance, and high-quality tenant buildouts.
100% OCCUPIED WITH 10-YEAR NNN LEASES
Fully leased to three tenants on 10-year NNN leases with personal guarantees, generating $286,406 in Year 1 NOI and minimizing landlord responsibilities.
STRONG CONTRACTUAL RENT GROWTH
Two tenants (68% of GLA) feature 3% annual rent increases, supporting steady income growth and enhancing long-term revenue stability.
EMBEDDED IN MASTER-PLANNED COMMUNITY
Located within the 4,200-home Teravista community and adjacent to the 1,200-home Heritage at Vizcaya, benefiting from a high-income base and strong surrounding demographics within a rapidly growing corridor.
MARKET AT 1460 PROJECT UNDER DEVELOPMENT
Located directly across FM 1460, Market at 1460 is currently under construction, a 55-acre mixed-use development planned for 330 multifamily units, 129 single-family homes, and 11 acres designed for Class A retail.
PRIME LOCATION NEAR TECH CORRIDORS AND OTHER MAJOR ECONOMIC DRIVERS
Located near Round Rock Premium Outlets and Baylor Scott & White Medical Center, with proximity to Austin’s tech corridor and major employers including Dell, Apple, Samsung, IBM, and Emerson.
EXPLOSIVE GROWTH CORRIDOR WITH HIGHLY AFFLUENT DEMOGRAPHICS
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