A joint venture partnership of Riverside, Live Oak and Cordova has sold New Hope, a newly constructed, fully leased industrial business park spanning 271,689 square feet across three buildings in Cedar Park, Texas. Stockbridge acquired the asset.
Completed in August 2024, New Hope comprises three shallow-bay, rear-load buildings positioned on 28.5 acres along Scottsdale Drive, a quarter mile east of State 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
