P: 805-969-5115
F: 805-969-5119
Cross Park Business Center; Austin, TX

Cross Park Business Center is a light industrial flex development, consisting of two buildings totaling 61,483 square feet.
Located within the Walnut Creek Business Park, the property and its existing light industrial flex buildings were owned by a foreign pension fund and managed by an out-of-town property manager. With an excellent location for flex space, the property was being underutilized. The property needed cosmetic upgrading, in addition to repositioning in the marketplace.
SIG renegotiated several pre-existing leases and relocated tenants within the park. New leases were signed within six months of purchase and the project was refinanced within 12 months of acquisition. Scher Investment Group returned all invested equity and continued to distribute cash flow, providing investors a return well in excess of a 20% return on their existing equity.
Scher Investment Group currently owns the asset and Hill Partners acts as property manager and leasing agent.