AUSTIN, TX-Fund timing is what drove GE Asset Management Inc. of Stamford, CT to sell the 176,000-square-foot Southpark 3 and 4 and an adjacent 4.2 acres to AEW Capital Management LP. Area sources say similar industrial sales have traded in the high $80 per-square-foot range.

Judson M. Clements, a director in Dallas for Holliday Fenoglio Fowler LP, says the two-building complex at 4209 and 4129 S. Industrial Dr. attracted six bona fide offers, crediting the Boston-based buyer’s win to quality, reputation and competitive pricing. “AEW did a great job in a tough market and was flexible,” says Clements, who teamed with HFF associate director Robby Rieke.

AEW acquired the asset for its value-add fund, AEW Value Investors II LP. The fund was launched a little more than one year ago to find properties with upside in redevelopment, repositioning and re-leasing as well as selective development.

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