Austin, Texas and Indian Harbour Beach, Fla. — The Sembler Company will serve as property manager and leasing agent for both properties.
The Sembler Company and Forge Capital Partners, in their Forge Real Estate Partners III investment fund, have purchased two shopping centers, Causeway Shopping Center in Indian Harbour Beach, Florida, and Springdale Shopping Center in Austin, Texas. Forge now owns five shopping centers, and the joint venture is actively seeking additional investments in grocery-anchored shopping centers throughout the Southeast. Causeway Shopping Center is a 107,000-square-foot property located in Indian Harbour Beach. The center is currently 94 percent occupied and anchored by Ross Dress for Less, Office Depot and Bealls Outlet. Springdale Shopping Center is a 164,000-square-foot property in Austin. The center is currently 99 percent occupied and is anchored by an H-E-B grocery store. Other key tenants include Didi’s, Family Dollar, O’Reilly Auto Parts and Fashion Outlet. The Sembler Company will serve as property manager and leasing agent for both properties.