The Shops at the Galleria Sold
The Shops at the Galleria, a popular shopping center for those who live in West Lake Hills, Bee Cave, Lakeway, and Barton Creek, has a new owner. At 12780 Shops Parkway, directly across from the Hill Country Galleria near Highway 71 and Bee Caves Road, the Shops is 100% occupied and includes such favorite retailers as Lowe's Home Improvement, Home Goods, Best Buy, Michael's, ULTA, Marshalls, Old Navy, PetSmart, Office Max, and World Market. It also offers restaurants, including local favorites Gumbo’s, Maudie’s Tex-Mex, Mandola’s Italian Market, and Austin Burrito Company. The center was completed in 2005 and quickly became an in-demand shopping location for what had been a retail-starved, yet affluent area. According to the Real Estate Center at Texas A&M University, residents in a five-mile radius of The Shops at the Galleria earn an average of $145,000 each year and have an average housing value of $540,000. Nearby neighborhoods include The Uplands, The Preserve at Barton Creek, Spanish Oaks, The Estates above Lost Creek, Crystal Mountain at Barton Creek, Falconhead, Flintrock Falls, The Hills, and many more. The Shops at the Galleria and the Hill Country Galleria combined are the major retail hubs of the region. The 537,684 square foot center was sold by Christopher Commercial Inc. and purchased by Oakbrook, Illinois-based InvenTrust Properties Corp.