Austin, TX
TXB Sells Austin Site for $9.11 Million
The 6,461-square-foot c-store was purchased by a Virginia-based 1031 exchange buyer.
TXB, which stands for Texas Born, has completed the sale of one of its Austin, Texas c-stores for $9.11 million. The 6,461-square-foot location was one of TXB’s 48 locations throughout Texas and Oklahoma. The recipient was a Virginia-based 1031 exchange buyer.
Situated on 4.52 acres of land, the site is located just outside of Austin in Kyle, Texas.
The sale comes just a week after the chain announced a new initiative in central Texas, through which TXB will open two new locations in the region and refurbish 12 more. The chain also added electric vehicle (EV) charging capability at all remodeled locations.
The new locations will feature a variety of fresh-made food items, including hand-breaded chicken tenders, handmade quesadillas and more private-label offerings.
“It’s been an incredible honor to see TXB growing so rapidly in Central Texas,” said Kevin Smartt, CEO of TXB. “This rebrand is more than just a different logo or name; this is a true reflection of who we are as a company. We’ve become famous for our freshly made, restaurant-quality food items that we prepare on-site, as well as our line of private-label products including salsa, jerky, tea, water, coffee and more. We want our guests to have the absolute best experience every time they visit one of our locations.”
The new and remodeled sites are located in the following cities:
- Bee Cave
- Georgetown
- Cottonwood Shores
- Kyle
- Bryan (one existing store and one coming next year)
- College Station (opening next year)
- Marble Falls
- Johnson City
- Wimberley
- Spicewood
- Buchanan Dam
TXB was represented in the recent sale by SRS Capital Markets’ Executive Vice President and Managing Principal Patrick Nutt and Senior Vice President William Wamble. SRS is a Southeastern U.S.-based private developer.
Year to date, SRS Capital Markets has completed approximately $731 million in deal volume comprised of 182 transactions in 34 states. SRS currently has in excess of 698 properties actively on the market with a market value surpassing $3.7 billion.
TXB was named the 2023 CStore Decisions Convenience Store Chain of the Year.