HFF announces sale of regional power center in Sioux City, Iowa
CHICAGO, IL – March 21, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Lakeport Commons, a 282,708-square-foot, open-air regional power center in Sioux City, Iowa.
Completed in 2005, Lakeport Commons is 92 percent leased and home to national category-leading retailers, including Gordmans, Best Buy, Staples, Michaels, PetSmart, Old Navy, Party City, Shoe Carnival and Dress Barn. Additionally, Kohl’s shadow anchors the property, and the Southern Hill Mall, which is the only enclosed regional shopping mall within 85 miles and attracts more than six million shoppers annually from three states, is adjacent to the center. The power center is located at 5101 Sergeant Road at the intersection of U.S. Highway 20 and Sergeant Road, which has combined traffic counts of 32,000 vehicles per day. Lakeport Commons serves an expansive trade area holding 127,297 people within 15 miles, and more than 55,950 residents earning an average annual household income of $64,642 live within a five-mile radius of the center.
The HFF team marketed the property for the seller, InvenTrust Properties Corp. The R.H. Johnson Company purchased the asset.
The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell and managing director Jules Sherwood, a licensed Iowa real estate broker.
About The R.H. Johnson Company
Founded in 1992, The R.H. Johnson Company is recognized as a market leader in retail real estate services throughout the Midwest. The R.H. Johnson Company owns, manages and leases numerous retail properties in the Midwest, including power centers, grocery-anchored suburban properties, single tenant buildings and mixed-use projects.
The R.H. Johnson Company is a member of Chainlinks Retail Advisors, a nationwide organization which facilitates expansion, disposition, relocation and repositioning efforts throughout the United States and Canada. For more information, visit rhjohnson.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.