HFF closes sale of power center in Mobile, AL

                             Mobile Festival Centre, Mobile, AL

ATLANTA, GA – HFF announced today that it has closed the sale of Mobile Festival Centre, a 380,619-square-foot power center in Mobile, Alabama.

Richard Reid

                HFF represented the seller, a joint venture between Kimco Realty Corporation and a global investment manager, in the sale of the property to Lakestar Properties. 

                Mobile Festival Centre is located at 3725 Airport Boulevard less than one half of a mile from Interstate 65.  The property is leased to tenants such as Academy Sports and Outdoors, Bed Bath & Beyond, h.h. gregg, Jo-Ann Fabric and Craft Store, Ross and Virginia College.  The center is shadow-anchored by Home Depot.

                The HFF team representing the seller was led by managing directors Richard Reid and Jim Hamilton.

Jim Hamilton

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America’s largest portfolio of neighborhood and community shopping centers. 

Lakestar Properties is a real estate investment company that seeks opportunistic real estate transactions for acquisition and future sale.  Lakestar has completed transactions in excess of $500 million totaling six million square feet throughout its history. 
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 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.kimcorealty.com

www.twitter.com/kimcorealty

www.lakestarproperties.com

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