5-6-2013: TRC Acquires Former Target in San Antonio, Texas
The Retail Connection, L.P. Announces it has Acquired the Former Target within the Concourse Shopping Center in San Antonio, Texas
The Retail Connection, L.P., and an affiliate of North American Development Group announced today that they have entered into a partnership to acquire the former Target building located at Highway 410 and 281 in San Antonio, Texas, which is a part of The Concourse shopping center. The 119,480 square foot vacant big box, which sits between Quarry Market and Northstar Mall, was purchased from Target Corporation.
“We are excited to be making our first acquisition in the San Antonio market,” said Chad Bradshaw, Vice President of Connected Development Services, a subsidiary of The Retail Connection. “This project is in an irreplaceable core retail location. The project offers outstanding visibility for its tenants and convenient access to the customers. The building will be redeveloped into three to four national credit junior box retailers.”
About The Retail Connection
Founded in 2003, The Retail Connection has seen rapid growth in its full service platform of real estate services, with some of the most successful retailers in the country as its clients and partners. The Retail Connection provides national advisory, tenant representation, project leasing, general brokerage and investment sales, expansion strategy, merchandising plans, property management, construction management, asset management and corporate services, as well as acquisition, development, merchant banking and strategic capital services. The Retail Connection currently represents over 240 retail and restaurant chains and over 26 million square feet of listings, including over 3 million square feet of its own projects. The company is headquartered in Dallas, with offices in Austin, Houston and San Antonio. Additional information on The Retail Connection, L.P. is available at www.theretailconnection.net.
About North American Development Group
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 3 million square feet of shopping center GLA in development or predevelopment. NADG has 11 offices across North America, consisting of 7 in the United States and 4 in Canada, and a team of approximately 125 seasoned real estate professionals. In the U.S., NADG’s head office is in West Palm Beach, Florida with regional offices in Los Angeles, Phoenix, Denver, Dallas, Nashville and Atlanta. In Canada, the Company’s head office is in Toronto, with regional offices in Edmonton, Montreal and Halifax.
Over the last 36 months NADG has acquired 3 properties across the U.S. comprising in excess of 4 million square feet of existing shopping center space with an additional 1 million square feet of future retail space. www.nadg.com.