JLL Capital Markets announced today that it has secured the successful sale of the Southwest Retail Portfolio, a 514,983-square-foot retail portfolio spanning Texas and Arkansas.
JLL worked on behalf of the seller, Ball Ventures. The buyer was Chase Properties.
The Southwest Retail Portfolio comprises four retail properties strategically located across Texas and Arkansas: Killeen Marketplace (photo) in Killeen, Texas; Southloop Crossing in Lufkin, Texas; Southcenter Shopping Center in Hot Springs, Arkansas; and Massard Crossing in Fort Smith, Arkansas. The portfolio boasts a 97% occupancy rate with average tenant tenure exceeding 17.9 years.
The properties feature national tenants including Kroger, Ross Dress For Less, Best Buy, Hobby Lobby, Michaels and Old Navy. About 91% of the portfolio’s income comes from national and credit tenants, providing stable cash flow.
JLL Capital Market’s Investment Sales and Advisory team, representing the seller, was led by Adam Howells, Barry Brown and Erin Lazarus, with help from Deborah Johnson, the broker of record.
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