"The addition of Village Pointe to our portfolio continues our firm’s long tradition of successfully acquiring value-add properties.” said Al Hartman, Hartman CEO.
San Antonio, TX (PRWEB) December 30, 2016
Village Pointe is a 54,246 square foot shopping center located just off US Highway 281 between Brook Hollow Boulevard and Thousand Oaks in San Antonio. Built in 1982 and renovated in 2015, Village Pointe has impressive infill demographics that include a population of nearly 233,000 and an average household income of approximately $93,000, both within a five-mile radius. The Property is located within five miles of San Antonio International Airport via US Highway 281. Village Pointe boasts superior visibility with over 500 feet of highway frontage, a large monument sign, and a daily vehicle count of approximately 168,000 along US Highway 281.
“With a great location, quality tenants, long-term leases, good access, an accretive yield and an attractive cost basis, the acquisition of this value-add retail property gives us a lot to be excited about,” said David Wheeler, Hartman Chief Investment Officer.
Village Point is 93% leased to a diverse blend of national and local tenants including Bike World with 7,037 RSF and 5.11 Tactical with 6,669 RSF.
“Our team acquired Village Pointe at a discount to replacement cost which provides our investors a strong stable yield. The addition of Village Pointe to our portfolio continues our firm’s long tradition of successfully acquiring value-add properties.” said Al Hartman, Hartman CEO.
John Taylor and Kelsey Roop with HFF represented the seller in the transaction; David Wheeler, Russell Turman, and Julian Kwok represented the buyer, Hartman Village Pointe, LLC.
About Hartman Short Term Income Properties XX, Inc. and Hartman vREIT XXI, Inc.
Both Hartman Short Term Income Properties XX, Inc. and Hartman vREIT XXI, Inc. are publicly registered non-listed REITs that provide ongoing informational reporting to the SEC. For information on each programs’ filings, please see http://www.SEC.gov. For information regarding leasing space at a Hartman property, please contact Katherine Morrison at 713-586-2669 and visit http://www.hi-reit.com. For additional information about Hartman investment programs, please visit http://www.HartmanREITs.com, call 800-880-2212, or contact Rick Vitale, CFA directly at 651-491-3693.
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