Check out our full menu here to see what we have to offer. We have all of the classics like burgers, wings, and pizza, along with other staples that everyone is sure to enjoy. When everyone’s ready for a break, stop by our full-service restaurant for a bite to eat. Nobody will have any trouble playing the day away in Austin at Main Event! Of course, we have our professional-level bowling lanes where the whole family can try to bowl the most strikes. Our arcade has over 100 games-both retro and modern-for the family to try and beat each other’s high scores. Our multi-level laser tag arena is the perfect place for kids and adults to test their aim while having a blast. Their birthday party is finally here! If you’re looking for an event that’s going to put last year’s party to shame, look no further than Main Event in our Austin location! Main Event is a one-stop shop for everything fun and exciting that kids are looking for and experiences they can’t enjoy anywhere else. Your child has been looking forward to it all year. Collections so far this year have come back healthy and are over 85 percent, per Fitch.Where to Have a Birthday Party in Austin, Texas The shopping center closed for nearly two months before it reopened on May 1, 2020, and it did not necessarily wilt under the weight of the pandemic, given its Class A profile and location.įrom April 2020 through the end of the year, Simon was able to collect about 71 percent of its rents at The Domain. The Domain’s pre-pandemic in-line sales per square foot was $625, which underscores its strength and the confidence CMBS lenders must have around including these types of properties in conduits. It was mostly the Class B malls and retail assets in oversaturated or secondary markets that felt the most heat from COVID-19. There are 59 CMBS loans on malls in Fitch’s ratings universe that are sponsored by Simon, and 10 of them are in special servicing. It has since made up a lot of ground that was lost, opening on June 30 at $130.58. The company’s stock, which had already been slowly declining in the lead up to the pandemic, tumbled more than 66 percent in the span of a month, from February 21, 2020, to Mafrom $142.25 to $48.14 - as investors fled from the retail sector. The pandemic and its assault on brick-and-mortar retail, of course, hit Simon hard. Since 2014, the retail and office components of the property have sported average occupancy figures of 94.2 percent and 96.5 percent, respectively. The three largest tenants - Dick’s, Neiman Marcus, and medical office tenant Hanger (formerly known as Hanger Orthopedic Group) - take up about 27 percent of the asset’s net rentable area, while no other tenant occupies more than 4.2 percent of the space. It also has 20 food and beverage outlets, ranging from fine dining to fast casual. Other retailers include Tesla, Louis Vuitton, Lululemon, Tiffany’s, and designer jewelry company David Yurman.
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The Domain is anchored by prototypical clothing and sporting goods stores, like Macy’s, Dillard’s, Dick’s Sporting Goods and Neiman Marcus, as well as cinema chain IPIC Theaters, which provides unique amenities for viewers not found at the usual movie theater, such as plush seats, cocktails and in-theater service. The Domain is surrounded by the presences of the likes of Apple, Amazon, IBM and Facebook, as well as multiple hotels and close to 1,000 multifamily units.
The property’s location about 12 miles north of Downtown Austin and near major interstate thruways, strong leasing and retail sales fundamentals, and its granular rent roll are strengths of the mortgage, per Fitch. Retail and restaurants make up about 82.4 percent of gross potential rent (GPR), and the office tenants make up nearly 18 percent of GPR.
As of last month, the property - located at 11410 Century Oaks Terrace in Austin - is just over 93 percent leased out to a whopping 120 office, retail and restaurant tenants, per Fitch. The Domain was built in 2007 and was renovated about three years ago. The open-air shopping center was valued by the lenders at around $452 million, meaning the mortgage was extended at a rather conservative loan-to-value of just 46.5 percent, per Fitch, whose analysis did not indicate that there was any subordinate financing included in the deal. Bank of America is contributing a $50 million portion of the financing to the Morgan Stanley -led MSC 2021-L6 conduit securitization the remaining balance of the loan is expected to be contributed to other conduit deals in the future. The loan, originated on June 16, will pay interest to investors at a rate of 3.09 percent.
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