HOUSTON, TX – HFF announced today that it has closed the sale of League City Towne Center, a 194,736-square-foot, Class A shopping center in League City, Texas.
HFF marketed the property on behalf of the seller, Property Commerce. Excel Trust, Inc. purchased League City Towne Center for an undisclosed amount.
Situated at the intersection of the Gulf Freeway (Interstate 45) and F.M. 646, League City Towne Center is about 20 miles southeast of Houston. The property was completed in 2008 and is fully leased to tenants including Ross Dress for Less, TJ Maxx, Michaels and PetSmart. Shadow anchors (not included in the sale) include Super Target and Home Depot.
The HFF investment sales team representing the seller was led by managing director Ryan West and senior managing director Rusty Tamlyn.
Property Commerce, established in 1976, has built a strong, continually evolving management, brokerage and leasing organization, which complements its development and investment activities. The present management portfolio includes multi-family, office and retail projects.
Excel Trust, Inc. is a retail-focused REIT that primarily targets community and power centers, grocery-anchored neighborhood centers and freestanding retail properties. Excel Trust trades publicly on the NYSE under the symbol "EXL". For more information on Excel Trust, Inc., please visit www.exceltrust.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.