Cushman & Wakefield’s Capital Markets group today announced that the Cronacher Corporation sold the Southloop Crossing Retail Center, a 110,455 square-foot, Dominant, Class A, Regional Power Center located at 4505 South Medford Drive, in Lufkin, Texas, to an undisclosed buyer. Tom Salanty, Chris Harden, Dave Karson, Chris Moyer and Kris Von Hohn represented the Cronacher Corporation in the transaction.
“The property has an impressive mix of national and regional retailers and was highly sought after by multiple groups across the nation,” said Tom Salanty, Executive Director of Cushman & Wakefield’s Capital Markets Group. “Collectively, our team has years of experience structuring large retail transactions and a fluid understanding of the local landscape. We appreciate having the opportunity to leverage these strengths, in partnership with our client, the Cronacher Corporation, in a transaction of this caliber.” Southloop Crossing was one of eight properties, offered individually or as a portfolio, throughout Texas and the southeastern United States.
National and regional retailers anchor 99 percent of Southloop Crossing Center’s gross leasable area. Major tenants include: Best Buy, Bed Bath & Beyond, Old Navy, Ross and Shoe Carnival.