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| Copperfield Village Shopping Center, 7081 State Highway 6 North, northwest Houston, TX |
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| Rusty Tamlyn |
HOUSTON, TX – HFF announced today that it has closed the
sale of Copperfield Village Shopping Center, a 165,293-square-foot,
dual-anchored retail center in northwest Houston, Texas.
HFF arranged the sale of the property on behalf of the
seller, Copperfield Village Investors, L.P.
Kimco Realty Corporation purchased the asset for an undisclosed amount
and assumed an existing loan.
Copperfield Village Shopping Center is situated on 16.43 acres at 7081
State Highway 6 North. The property’s
location in the 2,000-plus-acre Copperfield master-planned community places it
in a densely-populated area with an estimated 350,000 residences within a
five-mile radius.
The center is 92
percent leased to anchors Sprouts Farmers Market and Ross Dress for Less in
addition to Goody Goody Liquor, Dollar Tree, Five Below, Panera Bread and
Leslie’s Pool.
The
HFF investment sales team representing the seller was led by senior managing
director Rusty Tamlyn, managing director Ryan West, associate
director Matt Berry and real estate analyst Robbie Kilcrease.
“Kimco continues to expand its presence in Houston and in
Texas,” West said. “They were the
logical buyer as they now own assets on all three corners of the intersection.”
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| Ryan West |
“The combination of strong sales and below market rents was
a large contributor to the substantial interest we received from a variety of
buyer types,” Berry added.
Kimco Realty Corp. (NYSE: KIM) is a real estate investment
trust (REIT) headquartered in New Hyde Park, New York, that owns and operates
North America’s largest publicly-traded portfolio of neighborhood and community
shopping centers.
As of December 31, 2014, the company owned interests in 754
shopping centers comprising 110 million square feet of leasable space across 39
states, Puerto Rico, Canada, Mexico and Chile.
Publicly traded on the NYSE since 1991 and included in the S&P 500
Index, the company has specialized in shopping center acquisitions, development
and management for more than 50 years.
For further information, please visit www.kimcorealty.com, the company’s blog at
blog.kimkorealty.com or follow Kimco on Twitter @kimcorealty.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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