Newmark Arranges Sale of Oak Hill Plaza, a 115,512-Square-Foot Retail Center in Austin's Oak Hill Submarket

Newmark has arranged the sale of Oak Hill Plaza, a 115,512-square-foot neighborhood shopping center located in the Oak Hill submarket of Austin, Texas, the firm announced September 10. Trademark Property Company acquired the property, with Newmark's retail capital markets team representing the seller in the transaction.

Newmark Team and Transaction Parties

Conor Lalor, President and Head of Retail Capital Markets at Newmark, led the assignment alongside Senior Managing Director Kyle Minter, Director James Sharpe V and Associate Director Cole Frantz. The four brokers represented the seller in the sale to Trademark Property Company, a Fort Worth-based retail investor, developer and operator.

Cohen & Steers Real Estate Opportunities Fund joined the transaction as an institutional capital partner, acquiring the asset in a joint venture with Trademark Property Company. The sale closed August 27, 2026.

"Oak Hill Plaza represented a rare opportunity to acquire a well-located infill neighborhood center offering a unique combination of in-place cash flow and future upside potential," said Lalor. "The property's attractive basis relative to replacement cost, surrounding demographics and location within one of the nation's most growth-oriented markets created significant investor demand."

Property Overview: Oak Hill Plaza

Oak Hill Plaza is situated at 7101 State Highway 71 West, Austin, TX 78735, at the intersection of U.S. Highway 290 West and Texas State Highway 71 in the Oak Hill submarket southwest of central Austin. The center sits on 11.28 acres and includes 668 parking spaces.

Originally built in 1990 and renovated in 2016–2017, the multi-tenant neighborhood center was 92.5% leased at the time of sale. Its tenant roster includes The Picklr, Dollar Tree, AutoZone, Jim's Restaurant, Wells Fargo Bank, Pluckers Wing Bar and Golden Chick — a mix of fitness, discount, auto service, dining and financial tenants.

Demographics and Market Context

The property anchors a retail corridor with average household incomes exceeding $172,000 and median home values above $650,000 within a three-mile radius. The intersection of U.S. Highway 290 West and Texas State Highway 71 provides high traffic volume and strong connectivity throughout the Austin metropolitan area.

According to Newmark Research, investor demand remains focused on well-located retail assets with strong tenancy and durable fundamentals. Limited new supply and historically tight availability continue to support interest in quality centers, while occupiers increasingly prioritize efficient spaces in proven locations.

Repositioning Strategy

Trademark Property Company is expected to manage and lease the center and lead a plan to upgrade the property and its tenancy. Cohen & Steers' Real Estate Opportunities Fund targets assets where value can be unlocked through operating partner expertise in retail. The acquisition positions Oak Hill Plaza for tenant remixing and physical upgrades in a submarket characterized by limited new supply and a high-income consumer base.

Newmark Group, Inc. (Nasdaq: NMRK) generated revenues of more than $3.6 billion for the twelve months ended June 30, 2026, and operates from over 195 offices with more than 10,000 professionals across four continents.

Sources

Newmark Press Release: Newmark Arranges Sale of Oak Hill Plaza