Thursday, December 13, 2012

HFF closes sale of CarMax auto dealership in Garland, TX



CarMax Auto Dealership, Garland, TX
DALLAS, TX – HFF announced it has closed the sale of a 65,388-square-foot CarMax auto dealership in Garland, Texas.

                HFF marketed the property exclusively on behalf of the seller, an affiliate of Phoenix-based Cole Real Estate Investments.   A publicly traded REIT purchased the asset for an undisclosed amount free and clear of debt.

Coler Yoakam
The property is situated on a 14.4-acre site at 12715 Lyndon B. Johnson Freeway at the intersection of Interstate 635 and the Northwest Highway in Garland, about 10 miles northeast of downtown Dallas.  The land is leased to CarMax Auto Superstores, Inc., on an absolute triple-net basis.

Brandon Chavoya
 The HFF investment sales team representing the seller was led by directors Coler Yoakam and Brandon Chavoya, and senior managing director Mark West.

                Cole Real Estate Investments is a diversified real estate company with more than $11.8 billion of assets under management, totaling nearly 2,000 properties in 47 states.

Mark West
 Cole actively manages its portfolio consisting primarily of single-tenant and multi-tenant retail properties, as well as net-leased office and industrial properties, under long-term leases with creditworthy tenants. 
  
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

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