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| Market Place Shopping Center, 2902--3710 South 31st Street, Temple, TX |
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| Jim Batjer |
DALLAS, TX –Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged
$27.182 million in acquisition financing for Market Place Shopping Center, a 291,844-square-foot, HEB-anchored
shopping center in Temple, Texas.
HFF marketed the property
on behalf of the seller, LPC Realty Advisors, an advisory affiliate of Lincoln
Property Company, on behalf of a public pension fund client.
Epic Real Estate Partners purchased the asset
free and clear of existing debt. Additionally,
working on behalf of the new owner, HFF placed the five-year, floating-rate
acquisition loan with Prime Finance.
Market Place Shopping
Center is 86 percent leased to Kohl’s, Bealls, Dollar Tree, Pier 1 Imports,
Rent-A-Center and Starbucks. Situated on
24.75 acres at 2902-3710 South 31st Street at the southwest corner of Loop 363
and South 31st Street, the center is at one of the area’s busiest intersections
with more than 80,000 vehicles per day.
Market Place Shopping
Center is located in southern Temple, a central Texas community less than 70
miles north of Austin, with more than 112,000 residents living within a 10-mile
radius of the center. The center is
across the street from Temple Mall and Baylor Scott & White Memorial Hospital,
the largest employer in Temple.
The HFF team representing
the seller was led by senior managing directors Jim Batjer and Barry Brown
and associate director Kelsey Roop.
The HFF debt placement
team representing the borrower was led by director Adam Herrin.
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
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