AUSTIN-Henzlik-Oliver Real Estate Companies LLC has entered the Austin market with its acquisition of an 89,807-square-foot Academy Sports & Outdoors. The Overland Park, KS-based investor bought the asset from Wal-Mart for $9.4 million in an all-cash transaction.

Henzlik-Oliver also owns properties in The Woodlands, TX, and San Angelo, TX. “Texas is a hot spot for us – we love the market,” says Tyler Oliver, a partner with Henzlik-Oliver, which owns a portfolio of 25 properties in 10 states.

Oliver tells GlobeSt. that his firm was competing with three other prospective buyers for the Academy Sports & Outdoors asset, which is located at 12250 Research Blvd. in the Arboretum area. “Usually we invest in multi-tenant shopping centers, but this just happened to meet our criteria,” he explains. “We liked the high cap rate on the deal, which was above 9%. And it has all the characteristics of great real estate. It’s very well-located.”