Cole Acquires Gulf Coast Retail Center for $78M

HFF closed the $77.75 million sale and secured $42.76 million in acquisition financing for McGowin Park, a roughly 375,000-square-foot shopping center in Mobile, AL. HFF marketed the Gulf Coast regional, open-air anchored property for the seller, Hutton Company.

Phoenix-based Cole Credit Property Trust IV, Inc. acquired the property, free and clear of existing debt. HFF also worked on behalf of the new owner to place a seven-year fixed-rate loan with a life company.

Completed between 2015 and 2016, McGowin Park is located at 3075 Government Blvd. in the West Mobile submarket, and leased to a mix of national and regional tenants.

HFF’s investment sales team representing the seller included Richard Reid and Jim Hamilton. HFF’s debt placement team representing the buyer included Kevin MacKenzie and Mark Sixour.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Cole Acquires Gulf Coast Retail Center for $78M

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Cole Acquires Gulf Coast Retail Center for $78M

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