May 5, 2017
Weingarten Realty Advisors, headquartered in Houston, sold the Broadway Shopping Center, a 74,604-square-foot power center at 5908 Broadway Ave. in Galveston, TX. A private investor acquired it for an undisclosed price. The asset was assessed at $2.3 million.
HFF’s Ryan West led the sales team that represented the seller. The center is 100% occupied, with tenants including Big Lots, DaVita Island Dialysis, Family Dollar, Anytime Fitness, West Marine and Subway.
The REIT had owned the center for close to a decade. The asset is the closest retail center to the primary residential and tourist areas in Galveston.
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