Albanese Cormier Continues Nationwide Expansion with Successful Acquisition of 32 Assets in 14 States

BEAUMONT, TEXAS – Albanese Cormier Holdings (ACH) continues to move forward with impressive momentum following 2014’s explosive growth, which was the result of several new acquisitions. 2015 proved to be a phenomenal year for the company as well, and ACH is pleased to announce the acquisition of 32 strategically placed assets, totaling more than 1M square feet across 14 states nationwide. These acquisitions expand the company’s portfolio to include properties in Illinois, Virginia, Florida, Oregon, Utah, Washington, Alabama, North Carolina and Pennsylvania. Other territories include Texas, Louisiana, Mississippi, Arkansas, Missouri, Tennessee, Kentucky, New Mexico, Kansas and Georgia.

With assistance from HP “Smitty” Smith of Gibson Smith Realty Company who represented the seller, ACH purchased the Currin Patterson portfolio, which consisted of 18 Wal Mart shadow centers, totaling more than 331,000 square feet in the southeast region of the country. The properties feature a diverse group of national tenants, which account for more than 75% of the overall leasable area, including Cato Fashions, Dollar Tree, Hibbett Spots, GameStop, Sally Beauty, Payless Shoes, AT&T and Verizon. As part of the purchase, the company also acquired 4 undeveloped outparcel lots located adjacent to the Walmart centers.

In addition, ACH purchased another four shopping centers across Georgia, Alabama and Mississippi, some of which are grocery-anchored and feature high occupancy rates.

The company will continue to seek out and acquire value add shopping centers in strategic markets nationwide.

ALBANESE CORMIER HOLDINGS

Albanese Cormier Holdings is a commercial real estate investment company currently holding more than 4 million square feet of 60 strategically placed assets throughout 20 states. For more information about our company or on any other property within the ACH portfolio, please visit www.ach-us.com or contact the main office at (409) 892-0200.