Fort Worth-based Trademark Property Company purchased Oak Hill Plaza at the northwest corner of US 290 and SH 71 in Austin, Texas, in partnership with Cohen & Steers, a leading global investment manager. Trademark will also manage and lease the 116,000-square-foot neighborhood shopping center and lead a plan to upgrade the property and its tenancy.
The acquisition comes on the heels of the substantial completion of the TXDOT’s $674 million Oak Hill Parkway Project, which will greatly improve regional mobility and access to the property. Following a five-year-long construction process, all the main lanes, frontage roads, and ramps of Oak Hill Parkway are now open. Work will continue throughout the fall, including 14 miles of shared bicycle and pedestrian paths and 1.5 miles of new sidewalks along the corridor.
Oak Hill Plaza’s tenant roster includes Wells Fargo, Pluckers, Dollar Tree, AutoZone, Jim’s Restaurant, and The Picklr. Trademark plans to upgrade the property, creating a more inviting and modern destination. The improvements will support an enhanced tenant mix featuring local and regional retailers and restaurants that capture the authentic spirit of Austin.
Oak Hill Plaza joins Great Hills Market & Station as Trademark’s third property in the metro area, reinforcing its commitment to Austin. Trademark also has a strong footprint in Houston, with Market Street – The Woodlands and Dunham Pointe, a ground-up community center development that will break ground later this summer. In Dallas-Fort Worth, Trademark properties include Shivers Farm, Galleria Dallas, Anthem, Left Bank, Westbend, Alliance Town Center, The Vickery and Westbend Residences. Oak Hill Plaza will be Cohen & Steers’ second shopping center investment in Austin this year, following the acquisition of 1890 Ranch in Cedar Park.
