Updated Oct 29, 2024
Property Commerce Acquires Two-Thirds Of Terrell Plaza Shopping Center In San Antonio
1201 Austin Hwy San Antonio, TX 78209, USA
Building Size
—
Asset Type
Retail
Closing
Aug 28, 2023
About this deal
AI
Property Commerce, a Houston-based retail investor, has acquired two-thirds of the Terrell Plaza shopping center in San Antonio. The center, located at 1201 & 1235 Austin Highway, is 96% leased and features prominent anchors such as Target, Petco, and Ross Dress for Less. The transaction price for the acquisition remains undisclosed.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Undisclosed
- Address: 1201 & 1235 Austin Highway, San Antonio
- Market: San Antonio
Property Commerce, represented by Jay Williams, made the purchase from SITE Centers, with David R. Lukes acting as the seller. The transaction was facilitated by brokers Ryan West and John Indelli from JLL.
Players
Hinsdale Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93