Stan Johnson Brokers $20M Retail Sale in TX
- Jun 21, 2019
Arizona-based Pillar Capital Group has sold the newly constructed, 145,000-square-foot The Shops at Abilene Village retail center in Abilene, Texas, to a private 1031 exchange investor for $20.1 million. Senior Director Tom Fritz and Regional Director Brandon Duff from Stan Johnson Co.’s Chicago office worked on behalf of the seller.
Located at 3518-3542 S. Clack St. in a dense residential area, the asset is directly off Winters Freeway, which is passed by more than 104,000 vehicles per day. Additionally, the property is close to other retail businesses, such as a The Home Depot and Walmart, but also dining options. The center is anchored by Academy Sports + Outdoors and the tenant roster includes Petco, Burlington, Party City and Five Below. At the time of the sale, The Shops at Abilene Village was fully leased.
Recently, Stan Johnson Co. brokered another 1031 transaction in the state. The company represented a southern California buyer in the $4.2 million sale of a $27,211-square-foot industrial facility in Brookshire, Texas.
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