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| Kroger Shopping Center, 3510 Altamesa Boulevard, Fort Worth, TX |
FORT WORTH, TX– Marcus & Millichap Real Estate
Investment Services, the nation’s largest real estate investment services firm,
has arranged the sale of the Kroger Shopping Center, a
167,961-square-foot grocery-anchored retail center in Fort Worth, Texas. The
terms of the sale were not released.
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| Jason Vitorino |
Jason Vitorino, a first vice president investments in
Marcus & Millichap’s Dallas office, represented the seller, a Dallas-based
developer.
Ray Turchi, senior associate and Christopher
Travis, associate, both in the firm’s Orlando, Fla. office, represented the
buyer, an international company. This is its first purchase in Texas.
“We created full exposure for this retail center with our unique
proprietary marketing system and received multiple offers from a wide range of
investors within a few weeks,” says Vitorino.
“This is exactly why the seller
decided to exclusively list this redevelopment asset with our firm.”
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| Ray Turchi |
The shopping center is located in a blue-collar area of
Dallas/Fort Worth and was 98-percent occupied at the time of the sale.
“Marcus & Millichap’s collaborative culture gives us an
unmatched ability to bring buyers and sellers together and source assets for
first-time and out-of area investors,” adds Turchi.
The property is
located at 3510 Altamesa Blvd. at the intersection of Altamesa Boulevard
and McCart Avenue. Altamesa Boulevard is a prime retail corridor that connects
southern Fort Worth to the downtown area. National tenants in the surrounding
area include Walmart, Chase Bank, CVS, Chick-fil-A, Discount Tire, McDonald’s,
Walgreens and Wells Fargo.
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| Chris Travis |
Anchored by Kroger, this shopping center features a
complementary mix of tenants that includes Church’s Chicken, GameStop, LA
Fitness, Office Depot, Sally’s Beauty Supply and Subway.
Kroger has been a tenant of the center since 1980 and
recently spent extensive capital on its space and added a gas station to its
site, which is on a long-term ground lease.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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