Austin, Texas — Newport Capital Partners has acquired Stassney Heights on behalf of its Newport Capital Partners Fund III. The 103,030-square-foot, grocery-anchored shopping center is situated on the southwest corner of Stassney Lane and Interstate 35 in Austin. CBRE represented the seller, a Northeast-based retail and industrial investment manager, in the transaction. Newmark secured acquisition financing for the sale through Wintrust Bank. Stassney Heights was 93 percent leased at the time of sale to tenants including anchor Fiesta Mart, Umi Sushi, Castle Dental, T-Mobile and Clinica Hispana.
Newport Capital Acquires 103,030-Square-Foot Shopping Center in Austin, Texas