HFF announces sale of neighborhood retail center in San Marcos, TX

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.

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. 

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. 

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. 

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.

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 visit us on the web at www.naipartners.com.

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces sale of Allegiance Crane & Equipment headquarters in South Florida

Tracey Goo

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a 31,593-square-foot warehouse and office property that serves as the corporate headquarters for Allegiance Crane & Equipment in the South Florida community of Pompano Beach.

 

Jesse Wright

HFF marketed the property on behalf of the seller, LRG Cross LLC.  CenterPoint Properties Trust purchased the asset. 

The facility consists of two buildings that comprise 23,853 square feet of warehouse and 7,740 square feet of office space. 

Allegiance Crane & Equipment, which provides crane rental and rigging services, has occupied the property since 2010 and uses it as its headquarters and warehouse facility to service the construction, energy and infrastructure industries. 

Situated on 5.01 acres at 777 South Andrews Avenue, the property is strategically located in Pompano Beach, just west of Interstate 95 and three miles east of Florida’s Turnpike, Florida’s two major north-south thoroughfares. 

Maxx Carney

Its location lends it easy access to South Florida’s largest metropolitan areas, including Miami, Fort Lauderdale and West Palm Beach.

The HFF investment advisory team representing the seller included Tracey Goo, Maxx Carney, Nick Foster, Jesse Wright and Luis Castillo.

“Investor interest for industrial properties in South Florida continues to be very robust,” Goo said.  “We received a number of aggressive offers that incorporated accelerated due diligence and closing timeframes.  A material pricing premium is available for industrial assets right now.”

Nick Foster

HFF closed more than 1.3 million square feet of South Florida industrial sales last month.

CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. 

 The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes.  

CenterPoint’s portfolio includes 58.9 million square feet and 2,386 acres under development in the company’s integrated intermodal industrial parks. 

Luis Castillo

 For more information on CenterPoint Properties, visit www.centerpoint.com or follow@centerpointprop on Twitter.

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com