DALLAS, TX – The Dallas office of HFF (Holliday, Fenoglio, Fowler, L.P.) announced that L&B Realty Advisors, LLP and its joint venture partner, Barshop & Oles Company, have acquired Brodie Oaks Shopping Center, (top right photo) a community retail and office complex containing approximately 244,242 square feet in Austin, Texas. Brodie Oaks is located at the northeast corner of Loop 360 and South Lamar Boulevard.
The HFF investment sales team of senior managing directors Jim Batjer, (top left photo) Barry Brown and Doug Hazelbaker (middle right photo) along with associate director Judy Boyd marketed the property on behalf of the seller, Weingarten Realty Investors.
The HFF investment sales team of senior managing directors Jim Batjer, (top left photo) Barry Brown and Doug Hazelbaker (middle right photo) along with associate director Judy Boyd marketed the property on behalf of the seller, Weingarten Realty Investors. L&B Realty Advisors purchased the center on behalf of the investors in the L&B Diversified Strategy Partners, L.P. The terms of the transaction were not disclosed.
“Brodie Oaks complements the existing investments in the fund and the acquisition is consistent with the strategy of acquiring real estate inv
estments with the opportunity to add value and enhance returns through intensive management and leasing, rehabilitation, and re-tenantin
g,” said Stacie S. Crown, (middle left photo) vice president, portfolio management for L&B Realty Advisors.
estments with the opportunity to add value and enhance returns through intensive management and leasing, rehabilitation, and re-tenantin
g,” said Stacie S. Crown, (middle left photo) vice president, portfolio management for L&B Realty Advisors. “Given the strategic location of the site, the sales performance of some of the key tenants and the strong Austin economy, we feel Brodie Oaks is an ideal value-add investment. We are pleased to have the opportunity to partner with such a highly regarded operator like Barshop & Oles,” said Bernadette Mussell, (bottom left photo) director of acquisitions at L&B.
Brodie Oaks is anchored by Neiman Marcus Last Call and Sun Harvest Market. Other national tenants include Hobby Lobby, Toys ‘R Us, Tuesday Morning, Sally Beauty, Starbucks, Olive Garden,
Chili’s, Pei Wei Asian Diner and Fuddruckers.
Chili’s, Pei Wei Asian Diner and Fuddruckers. L&B Realty Advisors, LLP (http://www.lbrealty.com/), provides investment services including portfolio management, acquisitions, asset management, development and property management to institutional investors
and individual clients in office, retail, industrial, multifamily and medical real estate. The company manages a portfolio of more than 20 million square feet of office, retail, industrial and multifamily properties valued at $3.9 billion.
Barshop & Oles Company (www.barshop-oles.com) is a privately held Texas real estate company which has been involved in the development and management of over five million square feet of retail and mixed use properties in Central Texas for twenty-five years.
CONTACTS:
Jim C. Batjer, HFF Senior Managing Director, 214 265 0880, jbatjer@hfflp.com
Barry M. Brown, HFF Senior Managing Direcdtor, 214 265 0880, bbrown@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
Holly Robertson, L&B Realty Advisors LLP, 214 989 0634, hrobertson@lbrealty.com
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