Global investment manager Cohen & Steers, in partnership with Fort Worth-based Trademark Property Company, has acquired Oak Hill Plaza, a 116,000-square-foot neighborhood shopping center in Austin, Texas. The acquisition leverages regional infrastructure upgrades to revitalize retail options in an underserved corridor.
The Bottom Line
- Strategic Asset Pairing: Oak Hill Plaza represents Cohen & Steers’ second retail shopping center acquisition in Austin this year, following the purchase of 1890 Ranch in Cedar Park.
- Operational Execution: Trademark Property Company will handle leasing and management, deploying capital improvements to modernize tenancy and attract local and regional retail brands.
Capitalizing on Infrastructure Completion in Southwest Austin
The acquisition of Oak Hill Plaza—situated at the northwest corner of US 290 and SH 71—was finalized in late August 2026 by Cohen & Steers and Trademark Property Company. Here is the math: the timing of the purchase directly aligns with the conclusion of a massive public works initiative.
Following a five-year construction timeline, TxDOT finished the main lanes, frontage roads, and ramps of the $674 million Oak Hill Parkway Project. Additional corridor construction, including 14 miles of shared bicycle and pedestrian paths along with 1.5 miles of new sidewalks, is slated to wrap up in the fall. Terry Montesi, CEO at Trademark, noted that the timing for the investment is optimal now that the major transit project is substantially complete, adding that company research flagged the center years ago.
Oak Hill Plaza’s existing tenant roster includes brands such as Wells Fargo, Pluckers, Dollar Tree, AutoZone, Jim’s Restaurant, and The Picklr.
Value-Add Retail Strategies in High-Growth Corridors
Tommy Miller, Trademark’s Managing Director and CIO, pointed out that the property occupies an increasingly important gateway to the Texas Hill Country, identifying a significant opportunity to upgrade retail offerings in an underserved pocket of the Austin market.
Trademark’s acquisition expands its Austin footprint to three properties, joining Great Hills Market & Station. The firm also maintains operations in Houston, overseeing Market Street – The Woodlands and developing Dunham Pointe, alongside a diverse retail and residential portfolio across Dallas-Fort Worth that includes Galleria Dallas, Westbend, and Alliance Town Center.
Josh Silverman, Principal at Cohen & Steers, stated: “We love Austin and recognized this property as a compelling opportunity with significant potential to create long-term value.” Silverman noted that Trademark’s operational track record made them an ideal partner for executing the property’s revitalization.
Portfolio Comparison of Recent Austin Acquisitions
| Asset Name | Location | Buyer / Partner | Square Footage / Scale |
|---|---|---|---|
| Oak Hill Plaza | Southwest Austin, TX | Cohen & Steers / Trademark Property Company | 116,000 sq. ft. |
| 1890 Ranch | Cedar Park, TX | Cohen & Steers | Regional Retail Center |
| Great Hills Market & Station | Austin, TX | Trademark Property Company | Metro Portfolio Asset |
Market Trajectory and Asset Repositioning
By injecting capital into modernizing Oak Hill Plaza’s physical plant, Trademark aims to capture higher-tier rents from regional restaurant and retail concepts that match Austin’s demographic profile.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
