UCR Investment Sales Closes on the Sale of Three Properties Totaling $62,100,000
DALLAS, Texas, December 1, 2014 — UCR Investment Sales, a division of UCR, today announced the sale of three properties totaling 436,716 square feet, with a combined value of $62,100,000.
- Lawton Marketplace: 179,181 square foot new construction power center located in Lawton, Oklahoma, approximately 80 miles southwest of Oklahoma City. The 99% leased center is shadow-anchored by Target and has complementary tenants, including Academy, T.J.Maxx, PetSmart, Kirkland’s, Beauty Brands and Versona. The disposition also included ground leases for McDonald’s and City National Bank. UCR Investment Sales represented developer Hunt Properties in the sale to American Realty Capital Properties, Inc., on behalf of Cole Credit Property Trust V, Inc.
- Mission Crossing: 163,410 square foot community shopping center located along Goliad Road in San Antonio, Texas, adjacent to the intersection of Interstate 37 and Military Highway. The center is 96% leased to notable tenants, including Gold’s Gym, Big Lots, Anna’s Linens, Goodwill and Advance Auto Parts. UCR Investment Sales represented Retail Properties of America, Inc. in the sale to Mimco, Inc.
- Arlington Park Square: 94,125 square foot value-add specialty retail center located near The Parks at Arlington Mall at the northeast corner of South Cooper Street and West Arbrook Boulevard in Arlington, Texas. The REO shopping center is 47% leased and shadow-anchored by Fitness Connection. The transaction also included five retail pad sites: Brident Dental, Cesar’s Tacos and ground leases for Jack in the Box, Rockfish Seafood Grill and Raising Cane’s. UCR Investment Sales represented the Dallas-based seller in the sale to TriMarsh Properties.
UCR Investment Sales’ Adam Howells, Jace Hinderland and Jessica Donnelli marketed the assets.