Highland Village to be renamed the Crescent; two new tenants already signed on
AUSTIN, Texas – May 16, 2016 – On behalf of Misuma Holdings, CBRE announces significant capital improvements and a project re-branding for Highland Village, a 120,000-square-foot neighborhood shopping center at 6929 Airport Boulevard in Austin, Texas. The project is at the intersection of Airport Boulevard and Lamar Boulevard in the Crestview Station transit district. The center will be renamed the Crescent and receive extensive façade and exterior improvements, parking lot upgrades, a reimagined pylon sign, new monument and directional signage, as well as new landscaping.
“With the surge of revitalization along North Lamar, spurred by the redevelopment of Highland Mall, we saw an opportunity to refresh one of the larger retail centers in the area. The Crescent will be a curated center with a thoughtful tenant mix that offers new and different experiences for Austinites,” said Dean Davidov, Partner, Misuma Holdings.
Supermarket chain 99 Ranch Market will anchor the project, opening its first Austin location (and fifth in Texas) at the Crescent in early 2017. The California-based supermarket offers fresh produce, meat and seafood, along with Chinese, Korean, Japanese and American specialty grocery items. 99 Ranch Market was established in 1984 and has grown to become one of the largest Asian supermarket chains in the United States, with more than 43 locations in California, Nevada, Texas, New Jersey and Washington State.
Kula Revolving Sushi Bar has also signed on to bring its interactive, conveyor belt delivery system to Austin. The concept originated in Japan (where Kula has over 360 restaurants) and has taken hold along the west coast, where Kula has multiple locations, and now in Texas. Customers can pick fresh sushi plates off a revolving conveyor belt; if a desired item is not rotating, customers can place orders using the table’s iPad. Kula expects to open in fall 2016.
Eric DeJernett and John Heffington, with CBRE’s Austin office, are the exclusive retail leasing advisors. CBRE also manages the property.
“Allan and Dean Davidov have a real passion for reimagining outdated properties and breathing new life into projects that have good locations and good ‘bones.’ Their confidence in Austin began at The Linc next to ACC Highland where they are in the midst of a significant renovation and we are attracting best of class tenants like Easy Tiger, Austin Film Society, Pluckers Wing Bar, with more exciting announcements yet to come,” said Mr. DeJernett, Senior Vice President, CBRE.
The Crescent is across from Midtown Commons, a rapidly growing mixed-use development, and near the Crestview Station Capital Metro rail line and ACC Highland mixed-use redevelopment. CBRE is marketing multiple retail lease availabilities at the center.
A selection of images available here.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
About Misuma Holdings
Misuma Holdings is a commercial real estate development firm, specializing the large-scale retail, office, and mixed-use asset classes. We have a diverse range of transaction experience with a focus on transforming underperforming, but fundamentally great real estate. Misuma Holdings has delivered superior results to its tenants, partners, and community stakeholders for over thirty years. We aim to leverage this experience through proactive involvement in value-added or distressed commercial development project. Please visit our website at www.MisumaHoldings.com.
