RD Management Acquires 504,153 SF Shops at Tech Ridge in Austin

AUSTIN, TEXAS — RD Management has acquired Shops at Tech Ridge, a shopping center located in Austin, for an undisclosed price. Excluding the recently vacated Target store, the 504,153-square-foot property is 96 percent occupied. Since purchasing the property, RD Management has signed a lease with Floor & Décor for 77,958 square feet of space in the former Target store. Ross Dress for Less, PetSmart, Toys “R” Us and Conn’s HomePlus also occupy the center. The buyer plans to renovate the façade of the former Target space and develop two new pad sites at the center. The name of the seller was not released.