FORT WORTH, TEXAS – Albanese Cormier Holdings, a national commercial real estate investment company based in Beaumont, Texas, announced the purchase of Renaissance Square, a Class A regional shopping center in Fort Worth, Texas. Eric Wohl, Executive Vice President of Hanley Investment Group and Associate, Andrew Cunningham, CCIM, represented ACH in the purchase. Hanley Investment Group Real Estate Advisors is a nationally recognized real estate brokerage and advisory firm specializing in retail property sales.
Built in 2014 on 20.67 acres, the 105,605-square-foot shopping center is located at 2700 Renaissance Drive in Fort Worth and is shadow anchored by a recently developed Walmart Supercenter. The property, which was 98.5-percent occupied at the time of the purchase, is anchored by Ross Dress for Less, Marshalls, Shoe Carnival, It’s Fashion, Dollar Tree and Hibbett Sports. The purchase also included an outparcel featuring Wingstop, Pizza Hut, Metro PCS and Legacy Texas Bank. Jeffrey Jackson, a senior associate with CBRE in Houston, represented the seller, Moriah Real Estate Company of Midland, Texas.
“Renaissance Square shopping center was an ideal fit for Albanese Cormier Holdings’ portfolio of quality assets,” said Wohl. “It is a premier shopping center within the community and offers an excellent array of value-oriented tenants with strong upside potential through the development of excess land.”
Wohl adds, “Fort Worth is a highly sought-after submarket with growth projections outpacing many other US markets. There are several new commercial developments in the immediate area and a strong pipeline of residential growth. The property’s diverse mix of national credit tenants, close proximity to highly trafficked US Hwy 287 and its ‘main and main’ location in southeast Fort Worth make it an optimal long-term investment in today’s marketplace.”
Albanese Cormier Holdings is a national commercial real estate investment company based in Beaumont, Texas currently holding roughly 5 million square feet of 78 strategically placed assets throughout 22 states. For more information about the 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.
HANLET INVESTMENT GROUP
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $6 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.