Franklin Street Real Estate Services has arranged STL Retail Properties’ $3.2 million purchase of Pleasanton Plaza, a 70,466-square-foot, Bealls-anchored center located in Pleasanton, Texas, in the metro San Antonio area. Bryan Belk of Franklin Street’s Atlanta office represented the buyer in the transaction.
“In a sale indicative of market trends, thebuyer of Pleasanton Plaza was able to acquire a well-positioned retail center surrounded by many national retailers and restaurant chains, including a Walmart Supercenter, McDonald’s, Burger King, Walgreens and Chili’s,” Belk said. “We are seeing many transactions like this one, where buyers are investing in smaller markets to get yield as pricing in primary markets continues to rise. The plaza’s rents are currently below market, which offers great long-term rent growth potential for the new owner.”
Pleasanton Plaza, located at 1715 W. Oaklawn Road, is fully occupied by Bealls and Tractor Supply.The buyer plans to hold the property long-term.
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