STL Retail Properties of Missouri purchased Pleasanton Plaza, a 70,466-square-foot, Bealls-anchored center located in Pleasanton, near San Antonio. Bryan Belk of Atlanta office of Franklin Street Real Estate Services represented the buyer in the $3.2 million transaction.
“In a sale indicative of market trends, the buyer 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.