Sale of retail center in Albuquerque, New Mexico, closed by HFF
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Plaza Paseo del Norte, a 183,718-square-foot shopping center in Albuquerque, New Mexico.
HFF arranged the sale of the property on behalf of the seller, Kimco Realty Corp. Columbus Pacific Properties purchased the asset.
The 96.8-percent-leased Plaza Paseo del Norte is home to Ross Dress for Less, Natural Grocers, Cinemark Movies West, Sears Outlet, Hancock Fabrics, Rue 21 and Dollar Tree in addition to Target and Hobby Lobby, which were not included in the sale. Situated on 26 acres at 9227-9331 Coors Boulevard NW, the center is located in the northern part of Albuquerque at the intersection of Corrs Boulevard NW and Paseo del Norte, which has combined traffic counts of more than 120,000 vehicles per day.
The HFF investment sales team representing the seller was led by senior managing director Doug Hazelbaker and managing director Ryan Shore.
About Columbus Pacific Properties
Columbus Pacific Properties (CPP) is located in Santa Monica, California, and, since its inception in 1995, has purchased and redeveloped more than five million square feet of retail properties, 3,100 multi-family units and 7,100 student housing beds. The company has provided more than $200 million in mezzanine and equity capital, funding projects with an underlying value in excess of $1.4 billion. Learn more at www.columbuspacific.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.