Westwood Financial, a real estate investment firm based in Los Angeles, bought Trails at 620 near the growing Four Points neighborhood in Northwest Austin.
The acquisition of the 69,037-square-foot retail center is one of the California company’s first in the Austin area, although the company has three properties in Dallas and a strong Sunbelt presence in general.
The shopping center has 2,500 feet of visibility and linear frontage on heavily traveled FM 620 near its intersection with FM 2222 and a stone’s throw or so from the affluent Four Points neighborhood.
“Trails at 620, at 77 percent occupancy, represents a strategic acquisition of a strip center in Austin’s rapidly growing FM 620 corridor,” Westwood’s Mark Bratt said. “Its high visibility location, affluent demographics, and top-tier school districts make it an ideal addition with significant potential for growth."
Trails at 620’s current tenants include AT&T, Freebirds World Burrito, Black Rock Coffee, Restore Hyper Wellness, Kale Me Crazy, Mattress Firm, and the European Wax Center. The Y at Four Points is slated to open at the property in the next few months and will have a coworking and maker spaces, a sportsplex, and an outdoor pool.
Shea Petrick, Chris Gerard, and John Indelli of JLL represented the seller of Trails at 620 in the deal. Westwood didn’t disclose the seller’s name or the price it paid for the property.
