HFF closes sale of medical group-anchored retail center in San Antonio, Texas
HOUSTON, TX – June 29, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Crown Meadows Shopping Center, a 52,732-square-foot retail center anchored by a medical group in San Antonio, Texas.
HFF arranged the sale of the property on behalf of the seller, Culebra-Crown Meadows, Ltd., an affiliate of Carmichael Development Company. CJ Park and Associates purchased the asset for an undisclosed amount.
Crown Meadows Shopping Center is 92.1 percent leased to medical office, retail and restaurant tenants including anchor-tenant Gonzaba Medical Group, Baptist Health System, W Dental Group, Fast Eddie’s Billiards, Supercuts and Umberto’s Italian Grill. The two-building center includes 240 parking spaces on its 4.55 acres. Located at 7614-7616 Culebra Road in northwestern San Antonio, Crown Meadows Shopping Center is at the signalized intersection of Culebra and Ingram Roads with daily traffic counts exceeding 46,000 vehicles.
The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn, managing director John Taylor, associate director Matt Berry and real estate analyst Robbie Kilcrease.
About Carmichael Development Company
Carmichael Development Company, based in Houston, was established for the purpose of real estate investment, development, and management and holds income properties in Texas and the Southeastern United States. Owned by J. George Carmichael, the company is also active in the acquisition of valued added and distressed income properties.
About CJ Park and Associates
CJ Park and Associates was established by Kamran Farhadi for the purpose of real estate development and management, and investment. Since inception, CJ Park has experienced excellent growth and expects to do the same in the future. For more information, visit cjpark.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
RUSTY TAMLYN, CCIM, SIOR
HFF Senior Managing Director
HFF Associate Director, Marketing