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Prominent Waco Shopping Center Changes Hands
Waco’s Lake Air shopping center, a 214,000 SF retail center in the middle of town, was purchased by Property Commerce Dividend Fund. HPI was the seller.
A CBRE team lead by Blaine Dozier arranged the transaction for the seller, “Lake Air serves as an essential destination for Waco’s loyal consumer base. There was tremendous buyer interest due to its ideal in-fill location, established tenancy and strong retailer performance within the center.”
The development is 85% occupied with a diverse mix of regional and national tenants, including Dollar Tree, Melrose, Tuesday Morning, Twin Liquors, AT&T, Starbucks and Domino’s Pizza. The retail center is further bolstered by its proximity to the HEB grocery store directly across from Lake Air Court, which has approximately two million visitors per year. One of the states highest performing Target’s is also across the street.
- ◦Sale/Acquisition
