Newmark arranged the sale of a 115,512-square-foot neighborhood shopping center in the Oak Hill submarket of Austin, Texas.
Newmark President, Head of Retail Capital Markets Conor Lalor, Senior Managing Director Kyle Minter, Director James Sharpe V and Associate Director Cole Frantz represented the seller, Partners Real Estate, in the transaction. The buyer was Trademark Property.
Oak Hill Plaza is currently 92.5% leased to a diverse mix of national, regional and local retailers, including The Picklr, Dollar Tree, AutoZone, Jim’s Restaurant, Wells Fargo Bank, Pluckers Wing Bar and Golden Chick. The property is situated on 11.28 acres and includes 668 parking spaces.
Strategically located at the highly trafficked intersection of U.S. Highway 290 West and Texas State Highway 71, Oak Hill Plaza benefits from exceptional visibility and connectivity throughout the Austin metropolitan area. The property anchors a highly affluent retail corridor, with average household incomes exceeding $172,000 and median home values above $650,000 within a three-mile radius.
