HFF Brokers Sale of San Antonio Retail Asset
- Jan 22, 2018
Santikos Real Estate Services has sold Nacogdoches Crossing, a 22,434-square-foot neighborhood shopping center in San Antonio. A private investor acquired the asset, while HFF’s team of Managing Director John Taylor and Director Drew Fuller, represented the seller.
“Nacogdoches Crossing garnered significant interest from local and national investors due to the value-add nature of the asset, future development potential and Walmart shadow anchor,” said Taylor, in prepared remarks.
The Walmart-shadow-anchored retail center is located at 6826 North Loop 1604 E in the Northeast submarket. The asset is situated on a 5.9-acre parcel and includes two acres of unbuilt land that can hold roughly 19,000 square feet of new retail space.
Tenants at Nacogdoches Crossing include Cato Fashions, Taco Cabana, Rolling Oaks Dental and Subway. The property is a 17-mile drive away from downtown San Antonio, being exposed to more than 121,000 vehicles per day.
“Real estate diversification is one of the key pillars in our strategy to provide returns for the John L. Santikos Foundation,” said Aaron Kinsey, vice president of Real Estate at Santikos, in a prepared statement. “The Nacogdoches Crossing sale and subsequent redeployment of that capital allow us to continue to support our charitable mission for San Antonio.”
Earlier this month, HFF arranged the sale of a 68,000-square-foot shopping center in Denver, also working on behalf of the seller.
Image via Google Street View