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| Amy Sands |
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces
the sale of Lakeport Commons, a 282,708-square-foot, open-air regional power
center in Sioux City, Iowa.
Completed in 2005, Lakeport Commons is 92 percent leased and home
to national category-leading retailers, including Gordmans, Best Buy, Staples,
Michaels, PetSmart, Old Navy, Party City, Shoe Carnival and Dress Barn.
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| Jules Sherwood |
Additionally, Kohl’s shadow anchors the property, and the Southern
Hill Mall, which is the only enclosed regional shopping mall within 85 miles
and attracts more than six million shoppers annually from three states, is
adjacent to the center.
The power center is located at 5101 Sergeant
Road at the intersection of U.S. Highway 20 and Sergeant Road, which has
combined traffic counts of 32,000 vehicles per day.
Lakeport Commons serves an expansive
trade area holding 127,297 people within 15 miles, and more than 55,950
residents earning an average annual household income of $64,642 live within a
five-mile radius of the center.
The HFF team marketed the property for the seller, InvenTrust
Properties Corp. The R.H. Johnson Company purchased the asset.
The HFF investment advisory team representing the seller included
senior directors Amy Sands and Clinton Mitchell and managing director Jules
Sherwood, a licensed Iowa real estate broker.
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| Clinton Mitchell |
The R.H. Johnson Company owns, manages and leases numerous retail properties in the Midwest, including power centers, grocery-anchored suburban properties, single tenant buildings and mixed-use projects.
The R.H. Johnson Company is a member of Chainlinks Retail
Advisors, a nationwide organization which facilitates expansion, disposition,
relocation and repositioning efforts throughout the United States and
Canada.
For
more information, please contact:
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
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