Tuesday, December 3, 2013

HFF closes sale and arranges financing for Market Heights power center in central Texas


Market Heights power center, Harker Heights, TX

Doug Hazelbaker
DALLAS, TX – HFF announced today that it closed the sale of and arranged financing for Market Heights, a 412,645-square-foot power center in Harker Heights, Texas within the Killeen-Temple-Fort Hood MSA.

                HFF exclusively represented the seller, Direct Development, and procured the buyer, Cole Credit Property Trust IV, Inc. (CCPT IV).  HFF also arranged financing for the buyer through BofA Merrill Lynch.

Jim Batjer
Completed in 2007, Market Heights is anchored by national tenants including Ross Dress For Less, Dick’s Sporting Goods, Bed Bath & Beyond, Barnes & Noble, Cinemark, Old Navy, ULTA and Petco. 

The property, shadow-anchored by Target, is situated on 80 acres at 201 East Central Expressway along State Highway 190 near Fort Hood and in central Texas.

Barry Brown
The HFF investment sales team representing the seller was led by senior managing directors Doug Hazelbaker, Jim Batjer and Barry Brown and managing director Ryan Shore.

HFF’s debt placement team was led by senior managing director Kevin MacKenzie and director Adam Herrin.

“We are very happy to consummate this transaction with CCPT IV.  The closing process was nearly flawless and the team at Cole proved to be exceptional to work with,” said David Watson of Direct Development.


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
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

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