Atco acquires Austin shopping center

New York City -- Manhattan-based Atco Properties & Management said it has purchased Crossroads Center, a 99,000-sq.-ft. neighborhood shopping center in Austin, for $14.25 million.



The center is currently 70% leased to a mix of national tenants such as Bennihana, Chili’s, West Marine, Cycle Gear, as well as locals Trudy’s, Plucker’s and Big Daddy’s Burgers.



Atco plans to begin a modest capital improvement program that will include parking lot resurfacing, adding locally grown, drought-resistant plants to facility landscaping and signage upgrades.