{"id":1004136054,"date":"2016-02-03T15:29:55","date_gmt":"2016-02-03T23:29:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004136054"},"modified":"2020-05-12T02:03:47","modified_gmt":"2020-05-12T10:03:47","slug":"first-washington-realty-heads-into-the-west-woods","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/first-washington-realty-heads-into-the-west-woods\/","title":{"rendered":"First Washington Realty Heads Into the (West) Woods"},"content":{"rendered":"

By Anca Gagiuc, Associate Editor<\/em><\/p>\n

\"West<\/a>

West Woods Shopping Center, Austin<\/em><\/p><\/div>\n

Austin, Texas<\/strong>\u2014Global Retail Investors LLC, an affiliate of First Washington Realty Inc.<\/a> has acquired West Woods Shopping Center, an 189,340-square-foot center in West Lake Hills. The seller was Dallas-based Velocis<\/a>, a private equity investment manager, which had owned the asset since 2012. Terms were not disclosed.<\/p>\n

\u201cVelocis was able to acquire this ideally-located asset through a long-term relationship with the seller,\u201d said Jim Yoder, Velocis\u2019 principal. \u201cOver the course of our ownership, we unlocked its value by investing in property improvements and through strategic leasing and management efforts. As a result, we were able to substantially exceed our goals for the investment.\u201d<\/p>\n

After acquiring West Woods, Velocis invested in signage upgrades, landscaping and parking lot improvements. At the time of the sale, the property was 98 percent leased.<\/p>\n

HFF<\/a>\u2019s Jim Batjer and Barry Brown arranged the sale on behalf of Velocis, and Bryan Dabbs of BKD Realty<\/a> handled leasing for West Woods. Lincoln Property Co.<\/a> provided property management services.<\/p>\n

West Woods Shopping Center sits at 3201 Bee Cave Rd, at the intersection of Bee Caves Road and Walsh Tarlton Lane, conveniently located in the heart of the West Lake Hills and Rollingwood neighborhoods. The property is anchored by Stein Mark (41,148 square feet), Michaels (17,624 square feet), Petco (11,180 square feet), and CVS (8,640 square feet).<\/p>\n","protected":false},"excerpt":{"rendered":"

An affiliate of First Washington Realty Inc. is the new owner of West Wood Shopping Center.<\/p>\n","protected":false},"author":237,"featured_media":1004136057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21784,21743,21783,21742,21785,21749],"tags":[],"class_list":["post-1004136054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-brokerage","category-deals","category-investment","category-latest","category-property-management","category-retail"],"acf":[],"yoast_head":"\nFirst Washington Realty Heads Into the (West) Woods - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/first-washington-realty-heads-into-the-west-woods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Washington Realty Heads Into the (West) Woods\" \/>\n<meta property=\"og:description\" content=\"An affiliate of First Washington Realty Inc. is the new owner of West Wood Shopping Center.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/first-washington-realty-heads-into-the-west-woods\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-03T23:29:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T10:03:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/West-Woods-Shopping-Center-Austin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-washington-realty-heads-into-the-west-woods\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/first-washington-realty-heads-into-the-west-woods\/\",\"name\":\"First Washington Realty Heads Into the (West) Woods - 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