KILLEEN, TX-Expressway Plaza, two multitenant retail properties totaling 84,518 sf located on the south side of US Highway 190, has been sold for $8.8 million to a private investment group out of San Diego. Nikolas Kozy, with Blackrock Retail Property Advisors, which served as the exclusive agent for sellers Horne Development LP and Horne Properties-Killeen, LP, tells GlobeSt.com that the acquisition was the first in Texas for the buyer, whose name was not disclosed.
Goody's and CATO anchor the property, which is fully leased at rents of between $12 and $15 per sf. A separately owned Wal-Mart Supercenter along with free-standing buildings occupied by Lowe's and Office Max, also part of Expressway Plaza, were not included in the sale, Kozy says.
Home Development LP and Home Properties-Killeen, LP developed the plaza in 1999 and 2000. Kozy said the deal was arranged privately between the two parties by Miami-based Blackrock.
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