Velocis sold West Woods Shopping Center in Austin, a 189k SF complex anchored by Michaels, Stein Mart and Petco.
The three-building center has two outparcel pads leased to Raising Canes and Taco Bell. Situated on about 18 acres on Bee Cave Road, West Woods Shopping Center is surrounded by two of Austin’s most upscale neighborhoods, West Lake Hills and Rollingwood.
Velocis is known for its giant returns when it disposes of properties, but no word on what it made on this deal.
HFF managing directors Jim Batjer and Barry Brown repped the seller, and the firm will arrange post-acquisition financing for the buyer, who remains undisclosed.
The HFF debt placement team repping the new owner is being led by managing director Doug Opalka and director Robert Wooten.
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