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Trademark buys 116,000-SF Oak Hill Plaza shopping center in Austin
The deal follows the opening of the TXDOT’s $674 million Oak Hill Parkway project, which is expected to improve access and mobility to the property.
Trademark Property Company and Cohen & Steers have purchased Oak Hill Plaza, a neighborhood shopping center in Austin at the northwest corner of US 290 and SH 71, according to ConnectCRE.
The property spans 116,000 square feet. Trademark will manage and lease the center and lead a plan to upgrade the asset and its tenancy, with Partners Capital, the investment platform of Partners Real Estate Company, identified as the seller.
ConnectCRE links the acquisition to TXDOT’s $674 million Oak Hill Parkway project, noting that after a five-year construction process, the main lanes, frontage roads, and ramps are now open.
Oak Hill Plaza’s tenant roster includes Wells Fargo, Pluckers, Dollar Tree, AutoZone, Jim’s Restaurant, and The Picklr. Trademark plans to improve the center to support a more modern destination and an enhanced mix of local and regional retailers and restaurants.