Hillwood has made its second investment in Austin with the acquisition of SouthPark Commerce Center V. Located within the Southeast industrial submarket, Southpark Commerce Center V is a recently completed, 50 percent leased, three building industrial project totaling 350,171 square feet, at 4500 South Pleasant Valley Road.
We are proud to expand our footprint in Austin,” said Tom Fishman, EVP, acquisitions and dispositions. “This acquisition is consistent with our strategy to acquire and develop high-quality, functional industrial real estate in major U.S. markets.”
Located near Interstate 35 and State Highway 71, Southpark Commerce Center V is four miles from downtown Austin, four miles from Austin-Bergstrom International Airport, and 75 miles from San Antonio. The project offers state of the art design with 24’ to 28’ clear, rear load design, 150’ to 180’ truck courts, ample car parking and ESFR fire protection.
“We look forward to teaming up with Luke Wheeler and Nash Frisbie of Transwestern Commercial Services in providing prime located, Class A distribution space, ranging from 15,000 to 90,000 square feet.” said Toby Rogers, SVP, Texas market leader.
Hillwood has retained Transwestern Commercial Services to provide leasing and management services, with Vice President Luke Wheeler and Senior Associate Nash Frisbie leading leasing.
“Austin’s industrial market fundamentals remain strong, demonstrated by the robust leasing activity we’ve seen thus far,” said Wheeler. “We look forward to representing Hillwood in leasing the remaining space.”
Transwestern Development Co was represented in the sale by the HFF team including Managing Directors Trent Agnew, Adam Herrin, and John Taylor; Director Stephen Bailey; and Analyst Dom Espinosa.