HFF named to market for sale retail power center in south San Antonio, TX

 HOUSTON, TX – The Houston and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) have been named to market for sale City Base Landing (top left photo), a 201,426-square-foot retail power center in south San Antonio, Texas.

The HFF investment sales team will be led by senior managing directors Robert Williamson (middle right photo), Rusty Tamlyn (middle left photo) and Jim Batjer (lower right photo) who are representing the seller.  The property is being offered for sale for $35 million, which equates to a 7.9% cap rate.

Completed in 2005, City Base Landing is anchored by Best Buy, Office Depot and Hancock Fabrics.

 Additional retailers at the 93% leased center include AT&T, Buffalo Wild Wings, Cato Fashions, Chase Bank, Eye Masters, Shoe Show and Sherwin Williams. 

The property is situated on 22 acres at 3326 Southeast Military Drive at the intersection of Interstate 37 and Highway 281 in south San Antonio.

“South San Antonio is one of the most densely populated areas of the city, yet it lacks a substantial amount of Class A retail centers, allowing City Base Landing to pull customers from as far as 50 miles away,” said Batjer.

“Additionally, this area is poised for rapid growth in the next few years as Brooks Air Force Base completes its transformation to Brooks City-Base, which is a 1,246-acre business park offering more than two million square feet of laboratory, office and light industrial space.

“Coupled with the continued expansion of Toyota’s new assembly plant and a new branch campus for Texas A&M University, these economic drivers will bring additional jobs and homes to the area,” added Williamson.

Contacts:

Robert Williamson, HFF Senior Managing Director, (713) 852-3500;  rwilliamson@hfflp.com

Jim Batjer, HFF Senior Managing Director, (214) 265-0880,  jbatjer@hfflp.com

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

krmurphy@hfflp.com