HFF secures $4 million financing for Fort Worth, TX shopping center

DALLAS, TX – HFF announced today that it has secured $4 million in financing for the refinance of Hulen Square (top left photo), an 83,402-square-foot retail center in Fort Worth, Texas. 

Working exclusively on behalf of Cencor Realty Services (the “owner”), HFF placed the five-year, fixed-rate, non-recourse loan with ViewPoint Bank.  The loan’s interest rate will reset at the end of year five for an additional five years.

Hulen Square is situated on 9.1 acres at 6201-6299 Granbury Road adjacent to Hulen Mall and about seven miles southwest of downtown Fort Worth.  Renovated in 2008, the property is 84 percent leased to tenants including Dollar General, Jackson Hewitt and Pancho’s Mexican Restaurant.

The HFF team representing Cencor Realty Services was led by director Travis Anderson (lower right photo).  Randy Woodruff with Cencor Realty Services represented the owner in the transaction. 

Contacts:

Travis Anderson, HFF Director,  (214) 265-0880  tanderson@hfflp.com                                 

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

                                                              

$6.4 Million Retail Portfolio Sale Arranged by Marcus & Millichap in Dallas-Fort Worth, TX Metroplex

  

  

SAN DIEGO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of three single-tenant net-leased assets in Texas.

Combined, the assets, which are 7-Eleven convenience stores located in the Dallas/Fort Worth Metroplex, traded for $6,400,000. 

Alvin Mansour (middle right photo), a senior vice president and senior director of Marcus & Millichap’s National Retail Group (NRG), represented the seller, a local developer in the portfolio sale.

“Single-tenant net-leased assets in prime locations remain in high demand, even as the economy encounters a soft patch,” says Mansour.

“The buyer sold his steel company for $100 million in a 1031 exchange for the portfolio, which commanded $6.4 million in an all-cash deal that closed within six days of a signed contract. These are excellent long-term investments: Each of the properties has 15-year corporate-backed leases remaining,” he says.

“In addition, convenience stores in infill locations remain highly sought-after among investors. Cap rates will continue to compress for these assets as many national retailers like 7-Eleven continue to pursue plans for expansion and new construction of product in the next 18 months,” notes Mansour.

The 7-Eleven portfolio commanded $6.4 million and includes:

• ·        9235 John W. Carpenter Freeway in Dallas – $2,217,090

• ·        1908 Yucca Ave. in Fort Worth, Texas – $2,143,187

• ·        100 East Interstate 20 in Arlington, Texas – $2,039,723

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716