DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Southpark 3 & 4, two industrial properties totaling 176,000 square feet in Austin, Texas.HFF director Jud Clements (top right photo) 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 Sout
hpark 3 & 4 free and clear of debt for an undisclosed amount. AEW acquired the property on behalf of AEW Value Investors, II, L.P., a value-added real estate fund.
hpark 3 & 4 free and clear of debt 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% leased to tenants including The Whitley Printing Co., BlueLinx Co
rporation, Crawford Electric Supply and Austin Tele-Services. An adjacent 4.2-acre development site was also included in the sale.
rporation, Crawford Electric Supply and Austin Tele-Services. An adjacent 4.2-acre development site was also included in the sale. “Southpark 3 & 4 benefit from a strategic location, diversified tenant base, stable cash flow with upside and a development opportunity on the adjacent parcel,” said Clements.
With a 78-year heritage of investment experience and more than $156 billion in assets under management, GE Asset Management is one of the largest managers of institutional assets in the U.S. GE Asset Management is exclusive real estate advisor to the GE Pension Trust, a
global asset manager.
global asset manager.Founded in 1981, AEW Capital Management, L.P. provides real estate investment management services to investors worldwide.
Currently (as of June 30, 2008), AEW and its affiliates manage over $50 billion of property and securities in North America, Europe and Asia.
On behalf of many of the world’s leading institutional and private investors, the firm actively manages portfolios in both the public and private property markets and across the risk/return spectrum.
CONTACTS:
Judson M. Clements, HFF Director, 214 265 0880, jclements@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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