JLL Capital Markets closes sale of premier Austin retail hub

AUSTIN, Sept. 25, 2024 –  JLL Capital Markets announced today the sale of Trails at 620, a Class A retail center in the rapidly growing and supply-constrained FM 620 corridor of Northwest Austin, Texas.

JLL worked on behalf of the seller, Partners Capital, and Westwood Financial purchased the asset.

Currently 80% leased, the property enjoys a curated mix of internet-proof national and regional tenants, primarily made up of restaurant, medical and service-oriented businesses. Additionally, the property is part of a master-planned development that includes A+ Federal Credit Union, Cinepolis Luxury Cinemas, The Y and Holiday Inn Express.

Situated at 8300 North FM 620 in Northwest Austin, the 69,037-square-foot property is bordered by exclusive master-planned communities, affluent demographics and nationally recognized school districts. The FM 620 corridor is marked by its scenic setting in the foothills of the Texas Hill Country and the surrounding greenbelts and nature preserves. As a vital north-south route, FM 620 is the only road within five miles that crosses Lake Austin/Colorado River, creating a dominant and dynamic retail and residential corridor.

The JLL Investment Sales and Advisory team was led by Director Shea Petrick, Senior Managing Director Chris Gerard and Senior Director John Indelli.

“The Austin retail market has become one of the nation’s most robust, led by strong market fundamentals and record-setting population growth,” said Petrick. “Trails at 620 is perfectly positioned to capitalize on the market fundamentals that continue to drive Austin’s growth.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Partners is one of the largest privately-held and independently-owned commercial real estate firms in the U.S. with three key operating segments: 1) Full-service Occupier & Investor business; 2) Partners Capital, an investment management platform specializing in the acquisition and disposition of office, industrial, and retail properties via multiple investment funds; and includes Partners Finance, a registered broker dealer and FINRA / SIPC member engaged in offering real estate investment funds and individual investment opportunities to qualified individual investors, family offices and institutions; 3) Partners Development, which creates first-class development projects for our clients & investors. www.partnersrealestate.com

Westwood Financial owns, manages, and operates over 125 high-quality shopping centers in top U.S. metropolitan markets, including Atlanta, Charlotte, Dallas, Denver, Los Angeles, Orlando, Phoenix, and Raleigh. The centers are primarily anchored by top-tier grocers and leading service and experiential-based operators. Established in 1970, Westwood Financial is headquartered in Los Angeles, with regional offices in Atlanta, Dallas, and Phoenix.