HFF Closes Sale of Broadway Shopping Center
- May 09, 2017
HFF announced it has closed the sale of the 74,604-square-foot Broadway Shopping Center, a power center located in the coastal community of Galveston, Texas. The commercial real estate capital intermediary marketed the asset on behalf of the seller, Weingarten Realty Investors. The retail center was acquired by a private investor, free and clear of existing debt.
Broadway Shopping Center, located at 5908 Broadway Ave., is at the confluence of Interstate 45 and Broadway, exposing the center to more than 64,000 vehicles per day. More than 34,800 residents live within a three-mile radius of the property. This is the closest retail center to the primary residential and tourist areas of Galveston, which welcome more than seven million visitors annually. The center is fully leased to a variety of tenants including Big Lots, Da Vita Island Dialysis, Family Dollar, Anytime Fitness, West Marine and Subway.
Senior Managing Director Ryan West led the HFF investment team representing the seller.
Image courtesy of Weingarten Realty Investors