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6/21/19
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Nooner Holdings Ltd, a private 1031 exchange investor based in Texas, purchased The Shops at Abilene Village, a 145k sf retail center in Abilene, TX, for $20.1 mil ($138/sf).
The Shops at Abilene Village is fully occupied and includes a new relocation store for Academy Sports + Outdoors, as well as a national tenant lineup that includes Burlington, Petco, Party City, and Five Below. The property is located at 3518-3542 South Clack St, positioned directly off the Winters Fwy and visible by more than 104,000 vehicles per day.
Brandon Duff and Tom Fritz with Stan Johnson Company represented the seller, Pillar Capital Group, an AZ-based private investment firm.
“Since Academy was already proven in the submarket – with this being a relocation for them – combined with there being no other store locations within 90-150 miles for each of the other anchor tenants, as well as the property’s attractive new construction, we were able to generate strong buyer interest and multiple offers from a variety of different buyer profiles, especially private investors,” said Duff. “Private investors are the fastest growing buyer pool and typically have the most aggressive pricing for retail centers today.”
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