A San Antonio-based investment group headed by Daniel Jacob Jr, CCIM purchased the 81,784-square-foot shopping center from a local owner. The property is located one block south of Crossroads Mall and less then a mile inside Loop 410. The property was 88 percent occupied at the time of sale with a good Hispanic-based tenancy.
“The San Antonio market and Texas in general still offer investors a good environment to place cash,” said Williams. “The East and West coast markets have cooled, allowing Texas-based investors a historical stable cash flow.”
Brumm added, “While we don’t count on property appreciation, the overall long-term investments have proven worthwhile to our clients.
“Jason and JJ have done an outstanding job of finding the right properties for my partners to maximize their investment,” said Jacob, president of San Antonio-based Daniel Jacob Interests Inc. “In this case it was a value-added opportunity in which they were able to match an asset with a buyer that recognized its potential value.”
Contact: Damon Elder, Phone: 714.975.2659, Email: firstname.lastname@example.org