December 13, 2018
Brixmor Property Group ended its hold on the 276,593-square-foot Five Points Shopping Center in Corpus Christi, TX. The New York investor sold the retail center to investment and development company MIMCO for an undisclosed price.
Chris Gerard, Chris Cozby, Mark Witcher and Blaine Dozier with CBRE represented the seller in the transaction. Five Points Shopping Center is at 4101 Interstate 69 Access Rd. The center is 99% occupied by local, regional and national tenants.
“The sale of Five Points represents a reoccurring trend of private equity capitalizing on strong, stabilized secondary market retail centers at value-add pricing, as institutional owners shift their portfolios towards core and core-plus assets in primary markets,” Gerard said.
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