**Oxford Properties Acquires Over 1M Square Feet of Retail Centers in Austin Area**
Oxford Properties has expanded its retail portfolio in Central Texas with the acquisition of three major shopping centers—Lakeline Plaza, Lakeline Village in Cedar Park, and Wolf Ranch Town Center in Georgetown. The properties, which total more than 1 million square feet of retail space, were acquired from Washington Prime Group.
Oxford executed the acquisition in partnership with Pine Tree, which will manage the shopping centers on behalf of the joint venture. The retail centers boast a strong occupancy rate, currently more than 99% leased.
This acquisition follows Washington Prime Group’s earlier announcement that it would sell off its remaining assets and lay off employees, a decision made nearly four years after the company filed for Chapter 11 bankruptcy. Washington Prime Group still owns several retail assets in the Austin area, including The Arboretum and Gateway Shopping Center.
Lakeline Plaza and Lakeline Village, located at 11200 Lakeline Mall Drive, combine for approximately 386,000 square feet of space, anchored by retailers such as Best Buy and D-Bat Cedar Park. Wolf Ranch Town Center, situated at the southwest corner of Interstate 35 and State Highway 29, spans approximately 633,000 square feet and is anchored by major tenants including Target and Kohl’s.
The acquisition underscores continued investor interest in high-performing retail centers, especially those with strong leasing performance and desirable anchor tenants.
