DIG SELLS 3 RETAIL PROPERTIES FOR $110 MILLION
FOR IMMEDIATE RELEASE: DALLAS, Texas (June 26, 2019) – Disney Investment Group (DIG) announced today it has brokered the sale of two shopping centers totaling 544,170 square feet in Texas and Oklahoma along with the sale of a single-tenant Walmart Supercenter in Wisconsin totaling more than $110 million.
In Norman, Oklahoma (a suburb of Oklahoma City), DIG represented an undisclosed ownership entity that sold University Town Center, a 417,515 square foot power center anchored by 9 national tenants including Kohl’s, Academy Sports, TJ Maxx, HomeGoods, Michaels, Ulta and DSW among others and is shadow anchored by Super Target, Ashley Furniture, Crest Fresh Market and many other tenants. Altogether, University Town Center is considered to be the largest open-air shopping center in the state of Oklahoma with approximately 1.1 million square feet of retail space. The center was 96% leased at the time of sale and the buyer was an entity controlled by Rainier Realty Investments who partnered with CIL2 REIT LLC, managed by Continuum Holdings.
In Southlake, Texas (an affluent suburb of Dallas/Ft. Worth), DIG represented Strode Property Company on the sale of Kimball Oaks, a 126,654 square foot community center anchored by PGA Tour Superstore, Marshalls, Tuesday Morning and Bassett Furniture. Kimball Oaks was 97% leased at the time of sale and the center was acquired by a private exchange buyer.
In Lake Geneva, Wisconsin, DIG represented a private seller on the sale of a free-standing Walmart Supercenter that was ground leased to Walmart Real Estate Business Trust. Lake Geneva is a resort town that is popular with residents from Chicago and Milwaukee. The property was sold to a public real estate investment Trust.
David Disney and Adam Crockett of DIG handled the sales transactions and also procured the buyers for each property.
About Disney Investment Group
Disney Investment Group (DIG) is a Dallas-based boutique capital markets firm that has executed the sale of more than $2.3 billion of retail properties including approximately $1.25 billion of transaction volume since 2012. For more information on DIG, please visit disneyig.com.