Kobalt Investment Company acquired a controlling interest in the Rio Norte Shopping Center, located in the border town of Laredo, TX. Kobalt partnered with Dallas’ Stonefield Investment Advisors LLC and San Antonio’s Espada Real Estate to acquire the 222,291-square-foot Class A retail center. JLL represented the seller in the transaction.

Located directly off Interstate 35, the center is in the heart of Laredo’s retail core, which includes a Walmart Supercenter and the Mall del Norte, a 1.2 million-square-foot super-regional mall. The center is anchored by Ross Dress for Less in Texas, Rio Norte Shopping Center is also home to Michael’s, Petco, Dollar Tree, Shoe Carnival, Five Below, ddd’s discounts, Spec’s and more.

JLL’s Retail Capital Markets Investment Sales and Advisory team was led by Adam Howells and Matthew Barge.

Located on the border between Mexico and the U.S., on U.S. I-35 and Mexican Federal Highway 85, Laredo is America’s largest inland port and one of the oldest border crossing points.