Sale of West Woods Shopping Center in Austin, Texas, closed by HFF
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of West Woods Shopping Center, a 189,340-square-foot shopping center anchored by Michaels, Stein Mart and Petco in Austin, Texas.
HFF arranged the sale of the property on behalf of the seller, Velocis. An institutional joint venture purchased the asset for an undisclosed amount. Additionally, HFF is engaged to arrange post-acquisition financing for the buyer.
The 98-percent-leased West Woods Shopping Center is also home to CVS Pharmacy, Train for the Game, My Fit Foods, Sports Clips, U.S. Post Office, Great Harvest Bread Company, Massage Envy, Pure Barre, Oasis Dance Spa, Tiff’s Treats and Mattress Firm. The three-building center has two outparcel pads leased to Raising Canes and Taco Bell. Situated on 18.56 acres at 3201 and 3267 Bee Cave Road, West Woods Shopping Center is at the intersection of Bee Cave Road, a main east-west artery, and Walsh Tarlton Lane, a main north-south artery. The center is surrounded by two of Austin’s most upscale neighborhoods, West Lake Hills and Rollingwood.
The HFF investment sales team representing the seller was led by senior managing directors Jim Batjer and Barry Brown.
The HFF debt placement team representing the new owner is being led by senior managing director Douglas Opalka and director Robert Wooten.
Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at http://velocis.com/.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.