Velocis shops with $60M buys in Austin

AUSTIN – Velocis Fund LP has bought two retail centers — West Woods Shopping Center and Springdale Shopping Center — that total more than 350,000 sf of retail space. The properties are valued at $60 million.

The 189,340-sf West Woods is located at the intersection of Bee Caves Rd. and Walsh Tarlton Ln. The center is 97 percent leased.

The 163,677-sf Springdale Shopping Center is located in northeast Austin near the new Mueller Airport redevelopment.

This represents the fund’s eighth and ninth acquisitions of real estate properties, giving the firm about $160 million in assets. Last year, Velocis purchased the 112,117-sf Ridglea Village in Fort Worth