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

AUSTIN, Apr. 2, 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.

For more news, videos and research resources, please visit JLL’s newsroom. 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Riverside is a real estate firm recognized for deep expertise and consistent performance in development, investment, leasing and management of exceptional real estate opportunities.

https://www.riverside-re.com/

Cordova Real Estate Ventures is an opportunistic real estate investment and development company focused on Central Texas.



Cordova creates value utilizing over 60 years of combined experience in land entitlement, development, leasing, and asset-management.



Cordova’s focus on quality over volume and attention to details in our developments mitigates risk and drives higher returns for investors.

Live Oak Group is established as a privately-held commercial real estate company with a reputation for integrity and creativity across a broad array of Class A projects, including office and retail properties in Central Texas and other regionally-based markets. Over the next 25 years, its founders built an asset portfolio of more than 700,000 square feet, as well as a vertically-integrated real estate services company.

Stockbridge is a real estate investment management firm led by seasoned senior professionals averaging 25 years of real estate industry experience. The firm was founded in 2003 and manages real estate equity investments across the risk spectrum within a variety of investment structures on behalf of U.S. and foreign institutional investors, family offices and high net worth individuals. Stockbridge has approximately $37.4 billion of assets under management (as of December 31, 2025) spanning all major real estate property types, and certain specialty property types with an emphasis on residential and industrial space throughout the U.S. The firm has offices in San Francisco, Atlanta, Chicago, Dallas, Denver, and Phoenix. For more information, visit www.stockbridge.com.