SomeraRoad Inc. has acquired a property in Austin from Dallas-based developer Maker Bros. Although the sales price has not been disclosed, the property was listed for $22.5 million. With a track record of involvement in large-scale mixed-use projects, SomeraRoad established an office in Austin last year to focus on value-add and ground-up development projects.
The company’s plan for the property is to transform it into a bar and arcade destination, with Pins Mechanical Co. and 16-Bit Bar+Arcade as its tenants occupying all 42,000 square feet of space available. The entertainment retail concepts will feature 24 duckpin bowling lanes, over 30 pinball machines, and more than 40 classic arcade games.
Construction is set to begin later this year with an anticipated opening date of 2024. In recent years, there have been several multifamily and condo developments completed in the surrounding area.
