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2430 S. High St.

M&L United Property Acquires High Plaza Shopping Center In Longview From SkyWalker Property Partners
SOLDRetail

M&L United Property Acquires High Plaza Shopping Center In Longview From SkyWalker Property Partners

2430 S. High St.

Building Size

30,977 SF

Asset Type

Retail

Closing

Apr 24, 2023

AI

Located at 2430 S. High St. in Longview, Texas, the High Plaza Shopping Center has been sold to M&L United Property. The retail property spans 30,977 square feet and sits on 2.91 acres of land. The center underwent an extensive renovation, which included upgrading its exterior, parking lot, lighting, and monument sign.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Square Footage: 30,977
  • Address: 2430 S. High St.
  • Market: Longview
  • Acres: 2.91

SkyWalker Property Partners, represented by Gary Walker & Chris Aguilar, sold the majority of the High Plaza Shopping Center to M&L United Property. However, they retained a 26,400 square foot anchor store for their fund's portfolio. The center is home to a mix of national, regional, and local retailers, including Family Dollar, Wing Stop, Metro By T-Mobile, and Little Caesars.

Long Ly of William Davis Realty represented the buyer, M&L United Property, while Tim Axilrod of SHOP Cos represented the seller, SkyWalker Property Partners.

Players

Tim Axilrod

SHOP Companies

Broker

9 deals

Broker

Gary Walker

SkyWalker Property Partners

Seller

8 deals

Seller
SP
SkyWalker Property PartnersSeller

Columbus 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