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Oxford Picks Up 1M-SF of Austin-Area Retail Properties
Oxford Properties acquired Lakeline Plaza and Lakeline Village in Cedar Park, as well as Wolf Ranch Town Center (shown) in Georgetown. Washington Prime Group was the seller of a group of properties, which total over 1 million square feet.
Oxford Properties partnered with Pine Tree for these deals. Pine Tree will operate the shopping centers on behalf of the joint venture. The retail centers are more than 99% leased.
The Austin Business Journal reports that Washington Prime Group announced earlier this year that it would sell its remaining properties and lay off employees, approximately four years after it filed for Chapter 11 bankruptcy. Washington Prime Group also owns The Arboretum and Gateway Shopping Center in Austin.
Lakeline Village and Plaza, located at 11200 Lakeline Mall Drive, have about 386,000 square feet of retail space combined, anchored by Best Buy and D-Bat Cedar Park. Wolf Ranch Town Center, located at the southwest corner of I-35 and State Highway 29, is approximately 633,000 square feet, anchored byTarget and Kohl’s.
- ◦Sale/Acquisition
