Hillwood made its second investment in the Austin area by acquiring Southpark Commerce Center V. The Dallas-headquartered buyer shook hands with the seller and developer, Transwestern Development Co., for the property at 4500 S. Pleasant Valley Rd. in the southeast submarket.
The seller was represented by HFF’s Trent Agnew, Adam Herrin, John Taylor, Stephen Bailey and Dom Espinosa. “We were pleased to deliver a state-of-the-art facility to meet pent-up demand in the southeast Austin industrial submarket,” said TDC’s Ben Newell.
The new ownership retained Transwestern to provide leasing and management services; Luke Wheeler and Nash Frisbie will handle those tasks. The three-building asset is 50% leased.
“We are proud to expand our footprint in Austin,” said Hillwood’s Tom Fishman. “These acquisitions are consistent with our strategy to acquire and develop high-quality, functional industrial real estate in major U.S. markets.”
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