HFF Closes Sale Of 300,000 SF Retail Center

Jan 15, 2014 No Comments by

HFF has closed the sale of LOOP West, a 295,100-square-foot retail center in Kissimmee, Florida.

HFF marketed the property on behalf of the seller, O’Connor Capital Partners.  An affiliate of North American Development Group purchased the property free and clear of debt.

Completed in 2008, LOOP West is fully leased to national tenants including Babies R Us, Bealls, TJ Maxx, Books-A-Million, DSW, Party City and Ulta and shadow-anchored by JC Penney.  The 38.72-acre site is located at 2001 West Osceola Parkway near Walt Disney World, Sea World, Hollywood Studios and The Florida Turnpike about 15 miles south of downtown Orlando.

The HFF team representing the seller was led by senior managing directors Danny Finkle and Brad Peterson, and directors Luis Castillo and Kim Flores.

“LOOP West is one of the most dominant and successful retail centers in Florida due to its prominent location, national credit tenancy and high-quality physical improvements,” said Finkle.

HFF has capitalized more than $4.3 billion in retail assets nationally through third quarter 2013.  The HFF Florida team has capitalized more than $476 million in retail transactions during this time.

O’Connor Capital Partners is a privately-owned, independent real estate investment, development and management firm.  O’Connor concentrates its efforts on making direct investments in high-quality assets in major metropolitan markets in North America.

In its cumulative business history, North American Development Group (“NADG”) has been active in the development, acquisition, redevelopment and management of over 200 shopping centers comprising well in excess of 25 million square feet of GLA with an enterprise value of over $3 billion.  NADG owns over 14 million square feet of existing shopping center gross leasable area in the U.S and Canada, with an additional 4 million square feet of shopping center GLA in development or pre-development.  The company also owns approximately 1400 acres of land) in the U.S. and Canada that has been acquired for future retail development.  NADG has 11 offices across North America, consisting of 6 in the United States and 5 in Canada, and a team of over 150 seasoned real estate professionals.  Over the last 4 years, NADG has acquired 35 retail properties comprising over 5 million square feet of existing or to be developed space.

 

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Industry News, NA, Retail
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