Austin’s Iconic Waterloo Records Announces New Ownership and Move to New Location

Waterloo Records & Video, an iconic Austin institution and global music destination, has announced new ownership and a forthcoming move from its longtime 600 North Lamar location after 42 years. In a city where “Old Austin” landmarks face the pressures of “New Austin” growth, this move marks both an evolution and a preservation of Austin’s most iconic record store. After over four decades at the helm of Waterloo Records, owner John Kunz passes the torch to Caren Kelleher, Founder & CEO of Gold Rush Vinyl, and Austin entrepreneur Trey Watson. In 2019, the current retail location was purchased and Waterloo was either facing closing its doors or a future move. After years of searching, Kunz determined the historic music destination will be moving to 1105 North Lamar this Spring, a new location that offers more space for events, improved parking, and convenient proximity to downtown and nearby music venues. Plans for an opening community celebration and grand opening event will be announced soon. Together, Kelleher and Watson are determined to honour and carry on the remarkable legacy of Waterloo Records passed onto them by Kunz.

Says Kunz:

“My decades-long hope, dream and endeavour, has been for Waterloo Records & Video to live on forever, continuing to promote Austin’s vibrant music culture and community. Now with this transition, all of my boxes are checked: a new larger home, just five blocks away; Caren and Trey buy in as my new, talented, local music industry partners; all of my team are retained and they will gain the opportunity for store ownership; all of the Waterloo Records hallmarks and traditions continue on, including innovation; and now as a minority partner and not sole proprietor, I get to work less, and play more. So thank you Austin!”

Kelleher adds:

“John, Trey and I recognized this as a once-in-a-lifetime opportunity to guard and grow an iconic music business and to get to do so in a town we all love. John was one of the first people to welcome me to Austin when I moved here to start Gold Rush Vinyl and his friendship has been so important over the years. It means so much to me that he and his wife Kathy Marcus trust me to be part of the next chapter of Waterloo.”

Watson states:

“Austin has a soul about it that attracted me to move here over 25 years ago and continues to draw people here today. Since 1982, Waterloo Records has been a large part of the fabric of that soul as a small business and as a place where people gather as a community to celebrate music. I’m honoured and grateful that John Kunz has entrusted our team with guiding Waterloo into the future. We have great things planned for all to experience.”

The new location will allow Waterloo to expand its current 6,400 sq. ft. store by 50 percent but also its ability to host in-store performances and events with a larger, state-of-the-art stage, continuing its tradition of intimate artist-fan experiences. Maintaining its close proximity to nearby Austin music venues, the new space makes it easy for artists to visit before local shows. Previously home to Louis Shanks Furniture and later a Whole Foods’ regional office, the site offers both a rich history and practical amenities. The new location will also include increased parking opportunities during business hours (M-F until 5 pm) and access to all available parking on weekends and after-hours.

This move also reflects a broader narrative that resonates with longtime Austinites—the evolving tension between a city that has been known as a music-driven cultural haven with a small-town vibe, to its explosive growth into a tech-driven, globally-renowned urban epicentre. (But no one says it can’t still be both!) For decades, Waterloo Records has been emblematic of “Old Austin,” a city where live music was king, creativity thrived, and local businesses like Waterloo defined the city’s character. The new owners aim to bridge these two Austins, ensuring that Waterloo remains a cultural touchstone as the city continues to evolve. With Kunz now acting as Chair Emeritus, Kelleher and Watson will round out the team for the new and next generation of an enterprise that is a literal heartbeat of the city.

Kelleher is a Harvard MBA alumna and the trailblazing Founder & CEO of Gold Rush Vinyl, named one of the “Most Innovative Companies of 2020” by Fast Company magazine for its efforts in “revolutionizing record pressing” out of her factory in Austin. Gold Rush Vinyl pressed its first record in March 2018. When it launched, it was only the second woman-owned and operated pressing plant in the world (the first being in Los Angeles in 1981). Since opening its doors in the Spring of 2018, Gold Rush Vinyl has pressed records for thousands of musicians (including some musicians who work at Waterloo) and record labels to help answer the renewed $1 billion demand for vinyl records. Under Caren’s leadership, Gold Rush Vinyl has also expanded into making the industry’s only genuine 24-karat gold and platinum records for RIAA-certified artists, as well as memorabilia for music collectors.

Watson is an Austin entrepreneur with multiple business endeavours under his purview. He is the CEO of Armadillo Records, an Austin-based record label founded in 1969 by music enthusiasts who were influential in the movement that resulted in Austin becoming the live music capital of the world. Trey is also President of Globe Entertainment & Media Corp, which owns a number of historic photography archives totalling over 20 million images covering film, music, sports and history, and also serves as Partner / Executive Producer of 153 Studio Group, a documentary film studio delving into music and sports.

Since 1982, Waterloo Records has served as an emblem of Austin’s storied and diverse musical history and set a standard of excellence for countless record stores both locally and nationally. Throughout its 42 years in business, Waterloo has received a multitude of accolades and acclaim; it has been named one of The Best Record Stores in the USA by both Rolling Stone and SPIN Magazine, voted Best Record Store in the Austin Chronicle Readers’ Poll for 41 years and featured as a must-visit destination by The Wall Street Journal, The New York Times, The BBC, and more. Waterloo was one of the founding members of the Coalition of Independent Music Stores (CIMS) which launched Record Store Day in 2008.

The original Waterloo Records & Video location, located on South Lamar, opened its doors on April 1st, 1982, the same year that John Kunz became co-owners with founder Louis Karp. In its first year of business, Waterloo won the Austin Chronicle’s “Best Record Store” award and so began its journey to become an Austin institution. In 1985, Waterloo expanded its offerings by adding video partners and VHS video rentals.

In 1987, Kunz became the sole owner of Waterloo Records when Karp sold him his 50 percent share of the company to start his own hospital video rental stores and promote concerts, before launching his decades-long career in top-tier management at Whole Foods. Kunz and Karp remain close friends even to this day. Waterloo relocated to its iconic corner at West 6th St and North Lamar in 1989, becoming a cornerstone of Austin’s music scene and an enduring symbol of the city’s cultural identity. Under new ownership and at its soon-to-be new location, Waterloo is steadfast in its commitment to preserving its rich legacy while continuing to honour the history that has made it an Austin institution.

Kunz says:

“Waterloo is my baby – I always wanted the store to live on and have a life beyond me, and it is happening with these new partners. I am confident that the new energy and innovation from Caren and Trey, along with the entire Waterloo Records & Video crew, will fulfill the dreams I have always had.”

Kelleher states:

“There would be no Gold Rush Vinyl without Waterloo Records and the work it’s done to keep physical music alive and thriving. In a time when we’re more digitally connected than ever, people still crave something tangible. Record stores offer a place where we can unplug and experience music together, and I look forward to facilitating those kinds of connections for years to come at Waterloo.”

Watson adds:

“As Austin continues to grow, we will make sure Waterloo Records will continue to be a music destination for both Austinites and its visitors. With John’s involvement, we will deliver Austin the same record store with a little twist of fun and additional music engagement. We’re very excited for what’s to come and know Austin will support this legacy business as they have for the last 42 years!”