The owners of a good portion of Knox Street have hired the team at Highland Park Village to lease, market and manage their property.
Michael Dell’s family investment firm, MSD Capital of New York and Dallas-based real estate firms, The Retail Connection and Trammell Crow Co., together own 12 acres of retail, restaurant and residential buildings in the Knox Street neighborhood. The group amassed the property in multiple purchases over the past two years.
Highland Park Village Management Co., led by Stephen Summers and Ray Washburne, whose families own Highland Park Village, will work on the ownership group’s master plan for the area, which includes existing and new buildings.
Knox Street’s MSD Capital-led owners said in a press release that they will continue “to be actively involved in all areas, including the project strategy and related development plans.”
Since the pandemic, some smaller shops have closed on Knox, but the district, known for its concentration of home and furniture stores and national retailers including Apple, Trader Joe’s, Crate & Barrel, CB2, Mitchel Gold + Bob Williams, Pottery Barn and lululemon, has retained most of its stores during the pandemic.
Much of the south side of Knox Street is under construction with two large projects. Restoration Hardware’s multi-level store looks like it will be completed early next year. Down the street, the 12-story office and retail building under construction by the family that owns Weir’s Furniture Village is scheduled to open sometime next year.
Summers will oversee the leasing. Property management will be led by Becki Snow, Highland Park Village’s general manager. Highland Park Village’s chief marketing officer Victoria Snee will manage marketing and public relations. Highland Park Village Management has also advised other local and national projects: The Shops at Clearfork in Fort Worth, Texas, the Scottsdale Design District in Scottsdale, Arizona, The Haven in West Haven, Conn., and commercial properties in Aspen, Colo.
MSD Capital partner Coburn Packard said the group is ready to bring “our vision for Knox, particularly the opportunities that will be created for leading retailers and restaurant brands.”
In Austin, the group developed Music Lane, a ground-up mixed-use project on South Congress occupied by Deloitte and anchored by Soho House with retailers lululemon, Frame, Everlane, Madewell Men’s and Le Labo.
MSD also has fully pre-leased to Google a 35-story building under construction downtown near Lady Bird Lake. It also has a retail and office development under construction on South Congress.
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