JLL arranges sale of New Hope industrial campus in Cedar Park, Texas

AUSTIN, Apr. 1, 2026 - JLL Capital Markets announced today the sale of New Hope, a newly constructed, fully leased industrial business park spanning 271,689 square feet across three buildings in Cedar Park, Texas.

JLL represented the seller, a joint venture partnership of Riverside, Live Oak and Cordova, in the transaction. Stockbridge acquired the asset.

Completed in August 2024, New Hope comprises three shallow bay, rear-load buildings positioned on 28.5 acres along Scottsdale Dr., just 0.25 miles east of Highway 183A in the heart of Cedar Park's high-tech industrial district. The property achieved full occupancy within 14 months of delivery, leased to five tenants with credit profiles spanning life science, aerospace, manufacturing and distribution sectors.

The property features best-in-class construction specifications, including 32-foot clear heights, 200-foot truck courts, 82 dock-high doors and 78 percent conditioned space with 17 percent office finish across the entire park. The buildings offer flexible configurations with multiple storefront entries allowing for suite sizes ranging from 8,500 square feet to 149,429 square feet. Building Three includes upgraded power of 5,200 amps to accommodate advanced manufacturing operations. The property provides 579 parking spaces, achieving a 2.13-per-1,000-square-foot parking ratio, along with dedicated trailer parking capabilities.

New Hope is strategically located in Cedar Park, the third-largest city in the Austin metropolitan area with a population exceeding 84,000 residents. The property benefits from immediate access to State Highway 183A, a recently completed 16-mile toll road providing connectivity to central Austin, as well as to State Highway 45, State Highway 130 and Interstate 35 for regional distribution to San Antonio, Dallas and Houston.

The JLL Capital Markets Investment Sales and Advisory team representing the seller included Senior Managing Director and Industrial Group Co-Head Trent Agnew, Senior Directors Witt Westbrook and Kyle Mueller, Director Rob Ellwood and Vice President Patrick McCord.

"New Hope's accelerated lease-up demonstrates the acute shortage of quality shallow bay industrial product in Cedar Park," said Agnew. "With limited competitive supply in this landlocked submarket, the asset offers investors both stable cash flow and long-term appreciation potential in one of Austin's fastest-growing industrial corridors."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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