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Dallas Investor Unloads 677K-SF Retail Portfolio
Rainier Cos., headquartered in Dallas, ended its long-term hold on a national retail portfolio totaling 677,979 square feet. While the buyer was not disclosed, public records indicate that the buying entity, SPP Sunwest Portfolio LLC, is tied to Skyline Pacific Properties of San Francisco.
The properties are in Colorado, Kansas, Missouri, Montana, Oklahoma, Texas, Utah and Wyoming. Out of the 27 properties sold, 14 were located in Texas. CBRE’s Michael Austry and Jared Aubrey led the team in representing the seller. “A portfolio this size with steady income and numerous opportunities for rent increases and redevelopment is unheard of in today’s market,” Austry said. “We saw a tremendous amount of interest in the portfolio from both institutional and private buyers.”
The portfolio consists of:
- Six grocery stores
- Five home-improvement stores
- Three auto parts stores
- Three fitness centers
- Three dollar stores
- Two U.S. Post Offices
- One Pharmacy
- One Gas Station
Pictured: CVS Pharmacy, Carrollton, TX
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- ◦Sale/Acquisition
