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| San Marcos Place Shopping Center, San Marcos, TX |
AUSTIN, TX –– HFF announces the sale of San Marcos Place,
a 73,745-square-foot neighborhood shopping center with office space in San
Marcos, Texas.
HFF team represented the seller, Robb
Lane, Ltd. NAI Investment Fund, the private equity
arm of commercial real estate brokerage, purchased the asset for an undisclosed
price.
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| Andrew Pappas |
San Marcos Place is the first acquisition
for NAI Investment Fund’s recently raised Fund II, and the purchase of this
asset marks the fifth transaction completed in 12 months by NAI Investment
Fund, which is led by Senior Vice President Andrew Pappas.
San Marcos Place shopping center is 80 percent leased to a mix of
national and regional tenants, including Half Priced Books, Plato’s Closet,
China Palace Buffet, Nationwide Insurance, Pizza Hut, Best Buy Call Center and
Laundrymate.
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| Cathy Nabours |
Completed in 1985, the center received capital upgrades in 2015. The center is situated on 6.59 acres at 900 Bugg Lane in San Marcos, which is halfway between Austin and San Antonio along the Interstate 35 corridor and named the fastest-growing city in the United States.
Less
than a mile from the 38,000-student Texas State University, San Marcos Place is
visible to more than 132,000 vehicles per day from Interstate 35 and proximate
to The Lyndon, a new, premier mixed-use development with student housing and
retail.
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| Walter Saad |
HFF’s investment advisory team representing the seller included managing directors Cathy Nabours and Walter Saad and director Drew Fuller.
“Mark Shields and his partners have owned San Marcos Place
since the early 1990s, and, at just over 80 percent occupancy, the center will
be a great value-add investment for NAI Investment Fund,” Nabours said.
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| Drew Fuller |
“This was our team’s first time working with this buyer and look forward to the opportunity to work with Andrew and his team again in the future.”
Holliday GP Corp. ("HFF") is a Texas licensed real
estate broker.
Primus Real Estate
Services, LLP is a commercial retail real estate development and brokerage firm
located in Austin, Texas. Visit http://www.primusre.com for
more information.
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| Mark Shields |
NAI Partners is the 5th-largest Houston-Area commercial real estate Brokerage, the No. 1 Mover of Square Feet among leasing and sales brokerages, the largest independently owned and among the largest owner-operated commercial real estate firms in Houston, Texas, per The Houston Business Journal.
For more information, please contact:
KIMBERLY STEELE
HFF Digital
Content/Public Relations Specialist
(713) 852-3420
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