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Brokerage
Posted: July 29, 2013
Marcus & Millichap completes 21,250 s/f retail sale on behalf of seller
Marcus & Millichap Real Estate Investment Services has arranged the sale of Kingsville Plaza, a 21,250 s/f retail property located at 2730 South Brahma Blvd., according to J. Michael Watson, VP/regional manager of the firm's San Antonio office.
Chad Knibbe, senior associate, Bethany Babcock, associate, Preet Sabharwal, senior associate, and Britt Raymond, associate, in Marcus & Millichap's San Antonio and Manhattan offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
The buyer purchased the asset with the goal of improving the occupancy and enhancing his returns. The property features several national tenants such as Cato and The Shoe Department and is conveniently located outside of Walmart which drives heavy traffic to the center.
The asset received attention from investors nationwide but was ultimately acquired by a Texas- based investor familiar with the submarket.
Kingsville Plaza was built in 2000 on 1.742 acres as a Walmart outparcel on South Brahma Boulevard.
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