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11/10/16
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Hallmark Town Center, an 85.1k sf, grocery-anchored shopping center in the central California community of Madera, was acquired by Highpoint Capital Group LLC, a private real estate investment firm based in Los Angeles. The price was not disclosed.
Anchored by Food 4 Less, Hallmark Town Center comprises two multi-tenant buildings and an outparcel pad. The 96%-leased center is also home to national and regional tenants, including Thrive Fitness, Taco Bell, Furniture Town, Supercuts, Little Caesars, Blooming Fashion and Deli Delicious.
Situated on 8.39 acres at 2330-2360 West Cleveland Ave, Hallmark Town Center is at the southwest corner of West Cleveland Ave and North Schnoor St, which have combined traffic counts of approximately 39,427 vehicles per day. The center is located in the primary retail hub of Madera, a town located midway between San Francisco and Los Angeles.
Bryan Ley and Justin Kundrak with HFF represented the seller, Weingarten Realty Investors. HFF’s Peter Smyslowski and John Churchward arranged a 10-year, fixed-rate CMBS loan with a banking and financial services holding company. Based in Los Angeles, Highpoint Capital Group is one of the most active buyers of multi-tenant retail properties (both anchored and un-anchored) priced between $5 and $25 mil in the coastal and western states.
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