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Partners Capital sells Austin shopping center Oak Hill Plaza

The 116,000-square-foot Oak Hill Plaza is 92.5% leased and was appraised at about $19.4 million by the Travis Central Appraisal District, according to the Austin Business Journal.

Reported · Written up by our desk · Commercial

Partners Capital, the investment platform for Partners Real Estate, has sold Oak Hill Plaza, a 116,000-square-foot retail center in Austin, Texas, along a busy retail corridor, the Austin Business Journal reported.

The buyer was a joint venture between Trademark Property Co. and Cohen & Steers. The plaza is located at 7101 State Highway 71, and Partners Capital did not disclose the purchase price, according to the report.

Oak Hill Plaza is mostly occupied, with tenants including The Picklr, Dollar Tree, AutoZone, and Wells Fargo. The center is 92.5% leased, and it was appraised at approximately $19.4 million by the Travis Central Appraisal District, the report said.

Partners Capital acquired the property in 2021, and major changes are not likely at the center, according to the Austin Business Journal. In a press release, Partners Capital partner and President Andrew Pappas said the sale reflects its value-add strategy, citing a hands-on asset management plan intended to maximize value at exit.

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