February 11, 2019
Austin, Texas – Transwestern Development Co. (TDC®) today announces it has sold Southpark Commerce Center V to Hillwood. Located within the Southeast industrial submarket of Austin, Southpark Commerce Center V is a recently completed, 50 percent leased, three-building project totaling 350,171 square feet at 4500 S. Pleasant Valley Road in Austin, Texas.
“We were pleased to deliver a state-of-the-art facility to meet pent-up demand in the southeast Austin industrial submarket,” said Ben Newell, Senior Vice President at TDC.
Hillwood’s Tom Fishman, EVP, Acquisitions and Dispositions, added, “We are proud to expand our footprint in Austin. These acquisitions are 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 4 miles from downtown Austin, 4 miles from Austin-Bergstrom International Airport, and 75 miles from San Antonio. The park offers state-of-the-art design with 24-foot to 28-foot clear, rear-load design, 150-foot to 180-foot truck courts, ample car parking and ESFR fire protection.
“With the addition of these properties, we can provide multiple, prime location options for companies looking for 15,000 to 150,000 square feet of Class A distribution space,” said Toby Rogers, Senior Vice President and Midwest Market Leader at Hillwood.
The new ownership 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.”
TDC 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.
ABOUT TRANSWESTERN DEVELOPMENT CO.
Transwestern Development Co. (TDC®) is a diversified business with expertise in all commercial property types. The firm executes projects through a variety of venture and contract structures and has been creating commercial landmarks for itself, its partners and valued customers throughout the U.S. since 1978. TDC operates as a principal, investing capital alongside its institutional equity partners in the development of speculative and build-to-suit projects, and as a fee developer for clients and user-owners. Part of the integrated Transwestern enterprise, the firm capitalizes on the market insight and operational expertise of its affiliates, which include a diversified real estate services firm with 34 U.S. offices and a real estate investment management company. For more information, visit transwesterndevelopment.com.
Hillwood is a leader in acquiring and developing high-quality industrial properties across North America and Europe. Hillwood pursues well-located, functional buildings and land and collaboratively builds successful partnerships with public and private landowners, as well as developers to execute and invest throughout a broad spectrum of industrial projects. As a privately held company, Hillwood possesses the depth of capital, market expertise, industry relationships and forward-thinking vision to buy and build industrial properties that meet the logistics, distribution and manufacturing demands of evolving markets.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.