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Texas  + San Antonio  + Retail  | 

Hines’ $219M Sale of The Rim to be Final Next Month

HGR Liquidating Trust, formerly Hines Global REIT, is selling The Rim, Texas’ largest outdoor shopping center, for $219.7 million to Big V Acquisitions LLC. The 1 million-square-foot-plus The Rim includes all the outdoor shopping sections and some retail strips, excluding retail property owned by anchor tenants such as Target, Bass Pro Shop and Santikos, according to NAI Partners. The deal is expected to close in March.

Year-to-date through January, the San Antonio retail market has recorded 145,000 square feet of leasing activity, which is comprised of both new leases and renewals, down approximately 40 percent from one year ago. In addition, the net amount of square feet absorbed (move-ins minus move-outs) stands at positive 70,000 square feet, with new supply delivering three properties totaling 28,000 square feet to the market this year, of which 18.1 percent is occupied, according to NAI Partners.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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