Todd Briddell Of CenterSquare Investment Management Acquires Retail Asset In Richmond For $XXXXM
18320 West Airport Boulevard
Building Size
40,000 SF
Asset Type
Retail
Closing
May 9, 2025
AI
The property asset involved in this transaction is a fully leased retail space known as the Shops at Aliana Trace, which spans 40,000 square feet. It is located at 18320 West Airport Boulevard in the Richmond market. This acquisition is part of a strategic investment in the Houston area and is adjacent to the 200,000 square feet Grand at Aliana retail center, which includes notable anchors such as Target and H-E-B.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 18320 West Airport Boulevard
- Market: Richmond
- Square Footage: 40,000
- Buyer: Todd Briddell
- Buyer's Company: CenterSquare Investment Management
Todd Briddell, representing CenterSquare Investment Management, has now completed their sixth retail acquisition in the Houston market by securing this property. The transaction enhances their portfolio in a growing retail sector.
Richmond 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