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| Hallmark Town Center, Madera, CA |
SAN FRANCISCO, CA, Nov. 9,
2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed
the sale of and arranged acquisition financing for Hallmark Town Center, an 85,066-square-foot, grocery-anchored
shopping center in the central California community of Madera, California.
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| Bryan Ley |
HFF marketed the property
on behalf of the seller, Weingarten Realty Investors. Highpoint Capital Group, LLC (Highpoint), a
private real estate investment firm based in Los Angeles purchased the shopping
center.
The firm is one of the most active buyers of
multi-tenant retail properties (both anchored and un-anchored) priced between
$5 and $25 million in the coastal and western states.
HFF also worked on Highpoint’s behalf to
place a 10-year, fixed-rate CMBS loan with a banking and financial services
holding company.
Anchored by Food 4 Less, Hallmark Town Center
comprises two multi-tenant buildings and an outparcel pad. The 96-percent-leased center is also home to
national and regional tenants, including Thrive Fitness, Taco Bell, Furniture
Town, Supercuts, Little Caesars, Blooming Fashion and Deli Delicious.
Situated on 8.39 acres at
2330-2360 West Cleveland Avenue, Hallmark Town Center is at the southwest
corner of West Cleveland Avenue and North Schnoor Street, which have combined
traffic counts of approximately 39,427 vehicles per day. The center is located in the primary retail
hub of Madera, a town located midway between San Francisco and Los Angeles.
The HFF investment sales
team was led by managing director Bryan
Ley and associate Justin Kundrak
in HFF’s Los Angeles office.
The HFF debt placement
team was led by managing director Peter
Smyslowski and director John
Churchward in HFF’s San Francisco office.
 |
| Justin Kundrak |
“Hallmark Town Center
represented a market-leading transaction and was a great execution for the
buyer and seller,” Ley said. “This
top-producing, grocery-anchored center saw strong interest from investors in
this growing secondary market of Central California.
“The dual-track approach
by HFF drew aggressive pricing on the deal while marrying the most competitive
debt available in the capital markets with the right buyer.”
“HFF delivered strong
finance solutions that generated attractive returns for the sponsorship,”
Churchward added.
Jeffrey Seltzer, President of Highpoint Capital Group, noted, “We are very excited
about the acquisition of Hallmark Town Center as we are aggressively looking to
purchase retail centers across the United States, with a specific emphasis on
secondary markets like the California Central Valley.”
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | hfflp.com
.
