Wednesday, January 20, 2010

HFF closes sale of Albuquerque, NM retail power center

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of The Plaza at Cottonwood,  (top left photo) an 84,322-square-foot retail power center in Albuquerque, New Mexico.

The HFF investment sales team was led by senior managing directors Doug Hazelbaker and Jim Batjer (middle right photo)  and managing director Ryan Shore, who marketed the property exclusively on behalf of the seller, Weingarten Realty Investors.

North American Development Group purchased The Plaza at Cottonwood for an undisclosed price. HFF also represented Weingarten in the November 2009 sale of DeVargas Center and Wolflin Village, two retail properties in Santa Fe, New Mexico and Amarillo, Texas.

The Plaza at Cottonwood is located across from the Cottonwood Mall (bottom left photo)  along Coors Boulevard Bypass and Seven Bar Loop Road in the “West Mesa” area of Albuquerque. Completed in 1999, the property is fully occupied by tenants including Staples, PetSmart, Party City, Avenue and Men’s Warehouse.

“The Plaza at Cottonwood was well-received by the investment community and specifically addressed the investment strategy of the buyer. North American Development Group has a high-quality team that reacted quickly and performed well,” said Hazelbaker.

North American Development Group is one of North America’s leading vertically integrated enterprises focusing exclusively in the shopping center segment of the real estate industry.

Presently, NADG is acquiring both large format and neighborhood community retail centers throughout select U.S. markets. In the United States, NADG has offices in Palm Beach Gardens, Nashville, Dallas, Denver, Scottsdale (Phoenix) and Newport Beach (California). In Canada, offices are located in Toronto, Edmonton, Montreal and Halifax.

To learn more about the company’s operations and growth strategies, please visit

Doug Hazelbaker, HFF Senior Managing Director,  (214) 265-0880,
 Jim Batjer, HFF Senior Managing Directo, r (214) 265-0880,
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,

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