{"url":"https://newsforagent.com/news/2026-10-27/asana-partners-arboretum-expansion-austin","markdown_url":"https://newsforagent.com/news/2026-10-27/asana-partners-arboretum-expansion-austin.md","title":"Asana Partners Plans Arboretum Expansion in Austin","headline":"Asana Partners Plans 13,600-Square-Foot Building at Austin's Arboretum","description":"Asana Partners plans a 13,600-square-foot building and outdoor dining at Austin's Arboretum, with construction starting in spring 2027 and shops opening by fall 2028.","section":"Expansion","published_at":"2026-10-27T23:56:08+00:00","modified_at":"2026-10-27T23:56:08+00:00","author":"News Desk","key_takeaways":["Asana Partners bought the 200,000-square-foot Arboretum shopping center in Austin in February for an undisclosed price.","The company plans a new 13,600-square-foot restaurant and retail building along Great Hills Trail, with construction starting in spring 2027.","Jetset Pilates and skincare company Peachy have signed leases at the Arboretum, and the Michael Hsu Office of Architecture is designing the expansion and renovations."],"companies":[{"name":"Asana Partners","is_primary":true,"profile_url":"https://akta.pro/company-profiles/0000oep/asana-partners","website":"https://www.asanapartners.com"},{"name":"JETSET Pilates","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0005nxp/jetset-pilates","website":"https://jetsetpilates.com"},{"name":"Michael Hsu Office of Architecture","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0007w7m/michael-hsu-office-of-architecture","website":"http://hsuoffice.com"}],"source":{"publisher":"Yahoo","title":"Asana’s Arboretum overhaul aims to rival The Domain","url":"https://finance.yahoo.com/real-estate/articles/asana-arboretum-overhaul-aims-rival-225957033.html"},"other_sources":[],"tags":["Expansion","Asana Partners","JETSET Pilates","Michael Hsu Office of Architecture"],"body_markdown":"[Asana Partners](https://akta.pro/company-profiles/0000oep/asana-partners) plans a new 13,600-square-foot restaurant and retail building at the Arboretum shopping center in Austin, part of an overhaul of the 200,000-square-foot property it bought in February for an undisclosed price. [Yahoo](https://finance.yahoo.com/real-estate/articles/asana-arboretum-overhaul-aims-rival-225957033.html) reported the plans, which are still awaiting city approval.\n\n## Asana's Arboretum Building and Dining Plans\n\nThe new building would sit along Great Hills Trail, according to the Austin Business Journal. Asana also expects to add patios for outdoor dining and common areas for community programming and live music events, which could work similarly to the Palmer Events Center's yearly holiday market known as A Christmas Affair.\n\nConstruction on the outparcel is set to begin in spring 2027, with shell completion slated for the fourth quarter of the same year. Retailers are expected to occupy and open shops in the new building by fall 2028. Previous reporting from the outlet states the goal is to turn the Arboretum into an 18-hour retail destination.\n\nJetset Pilates and skincare company Peachy have signed leases in the shopping center. [JETSET Pilates](https://akta.pro/company-profiles/0005nxp/jetset-pilates) opened its fifth Tampa-area studio in Lakewood Ranch on October 27, its first in the Sarasota-Bradenton market, according to PR Newswire. The Austin-based [Michael Hsu Office of Architecture](https://akta.pro/company-profiles/0007w7m/michael-hsu-office-of-architecture) is the designer behind both the expansion and the renovations.\n\nThe Arboretum's existing roster includes Pottery Barn, Amy's Ice Creams and Juliet Italian Kitchen. The center sits close to The Domain, nicknamed \"Austin's Second Downtown\" for its walkability, community spaces, retail offerings and restaurants, and home to names such as Neiman Marcus and Nordstrom.\n\n## Asana Partners' $8.2 Billion Retail Portfolio\n\nAsana Partners is a Charlotte-based, vertically integrated retail real estate investment firm founded in 2015 that acquires, owns and operates neighborhood retail centers across 25 U.S. MSAs, managing $8.2 billion in assets for institutional investors through three value-add funds, according to akta.pro [company records](https://akta.pro/company-data). The same records list $7 billion in assets across the United States and 25 MSAs as of June 5, 2026.\n\nThe records show Asana acquired The Arboretum, described as a roughly 197,105-square-foot open-air neighborhood center at 10000 Research Boulevard, in February, entering the Austin market with planned physical improvements and a merchandise mix refresh.\n\n## Asana's Earlier Retail Deals\n\nIn October 2026, Asana Partners and Norges Bank Investment Management acquired the Hills Village Center in Bedminster, New Jersey, from Longpoint Realty Partners' Lena Centers subsidiary for $60.7 million, or $547.81 per square foot, Costar reported. The strip mall is anchored by Kings Food Markets and CVS.\n\nIn July 2026, Asana Partners sold The Design Center, an adaptive-reuse property in Charlotte's South End neighborhood, to Hines, according to American City Business Journals. That month, Norges Bank Investment Management acquired a 49% stake in a joint venture with Asana Partners focused on neighborhood retail, with an equity commitment of $500 million, the same outlet reported.\n\n## Arboretum Approval and Construction Dates\n\nThe Arboretum plans are awaiting approval from the city, according to the Austin Business Journal. Construction on the new outparcel is set to begin in spring 2027, with shell completion slated for the fourth quarter of 2027 and retailers expected to open by fall 2028.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}