AEW Acquires Texas Industrial Properties
- Nov 12, 2008
The Dallas office of Holliday Fenoglio Fowler L.P. closed the sale of Southpark 3 & 4, two industrial properties totaling 176,000 square feet in Austin, Texas.HFF director Jud Clements and associate director Robby Rieke marketed the properties on behalf of the seller, an affiliate of the General Electric Pension Trust, advised by GE Asset Management. AEW Capital Management L.P. purchased Southpark 3 & 4 for an undisclosed amount. AEW acquired the property on behalf of AEW Value Investors II, L.P., a value-added real estate fund.Southpark 3 & 4 are located at 4209 and 4129 South Industrial Drive near the intersection of State Highway 71 and Interstate 35 in Austin’s southeast industrial submarket. Completed in 1995, the buildings are 89 percent leased to tenants including The Whitley Printing Co., BlueLinx Corp., Crawford Electric Supply and Austin Tele-Services. An adjacent 4.2-acre development site was also included in the sale.