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Land Sales Jumpstart 500,000-SF Power Center

AUSTIN-Wal-Mart, Lowe's and Trammell Crow have their land to push ahead on the 500,000-sf Five Oaks Plaza, the reason behind the relocation of an interstate interchange. Trammell Crow's 48-acre buy is the linchpin.

By Tim Green | Updated on November 14, 2002

AUSTIN-Two of the biggest building blocks are in place for a new shopping center in northeast Austin. Wal-Mart Stores Inc. and Lowe’s Discount Home Improvement Centers Inc. have bought parcels for stores on the west side of Interstate 35 between Parmer and Howard Lanes.

The stores are to be part of the Five Oaks Plaza being developed by Trammell Crow Co.’s Austin team. Plans call for a 500,000-sf power center.

Wal-Mart in February bought 23 acres from the Snyder family. Then this week, Trammell Crow bought 48 acres from the Scofield family and simultaneously sold 11 acres to Wal-Mart and 13.69 acres to Lowe’s.

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