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Retail property is fifth and final acquisition for Fund III of the investment arm of NAI Partners
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NAI Partners’ Retail Project Leasing team and Property Services group to lease and manage property
San Antonio, TX, November 12, 2020 – Partners Capital—the investment arm of NAI Partners—today announced that is has closed on Blanco Crossing, a retail property located at the corner of Blanco Road and Huebner Road in North Central San Antonio.
Blanco Crossing is a 22,606-sq.-ft. retail shopping center home to tenants including Sake Café, The Mailing Spot, Kennedy’s Public House, and KC Pet Products. It is currently 84% occupied. The acquisition comes on the heels of a flurry of Partners Capital-related news, including last month’s rebrand announcement, and the purchase of Trails at 620, a retail property located in Austin, Texas.
“Our focus for Blanco Crossing will be on transforming the asset’s exterior façade in order to fully maximize our tenants’ visibility. Many of our tenants started their businesses out of this location decades ago and are cherished by the local community. We will work hand-in-hand with our tenants to help them grow, starting with a capital program to capitalize on Blanco Crossing’s premier and elevated location at the intersection of Blanco and Huebner Road,” said Adam Hawkins, Vice President of Acquisitions at Partners Capital.
Andrew Pappas and Adam Hawkins of the Partners Capital team worked with Philip Levy and Jack Newman of Marcus & Millichap to close the deal, with financing provided by Peyton Jones at Veritex Bank in Houston, Texas.
The NAI Partners San Antonio Retail leasing team will be responsible for leasing the property, while NAI Partners’ Property Services group—part of the company’s Landlord Services Division—will manage Blanco Crossing.
This acquisition is Partners Capital’s fifth and final acquisition in Fund III and the platform’s 14th deal overall, pushing its portfolio to more than 1.2 million sq. ft. and over 400 tenants.
Partners Capital is kicking off fundraising for Fund IV this month and is already well on its way to raising $50 million.
For additional information regarding Partners Capital and Fund IV, please contact Andrew Pappas at 713.629.0500.
For new Partners Capital acquisition or disposition opportunities, please contact Adam Hawkins at 713.985.4604 or firstname.lastname@example.org.
About Partners Capital
Partners Capital, a wholly owned subsidiary of NAI Partners, owns a real estate portfolio totaling more than 1 million sq. ft. and has completed over $165 million in transaction volume. Partners Capital was created by NAI Partners as a platform to invest in office, industrial, and retail multi-tenant properties in Houston, Austin, San Antonio, and Dallas that meet the following criteria: can be acquired below replacement cost; carries a $5 million to $30 million purchase price that falls below the interest of institutional buyers; generates positive cash flow; and allows NAI Partners to leverage its extensive industry knowledge and resources to generate attractive cash flow and value appreciation over a projected holding period of three to six years. Visit us on the web at www.partnersrec.com.
About NAI Partners
NAI Partners is one of the top 5 largest privately held and independently owned commercial real estate services firms in the state of Texas. NAI Partners was founded and is headquartered in Houston and has offices in San Antonio and Austin; offers the geographic expertise to complete real estate transactions throughout the state; and can leverage the power of the NAI Global network to arrange deals in any location around the world. NAI Partners employs more than 150 real estate professionals, and arranges more transactions than any of its competitors, completing over 700 commercial lease and sale arrangements every year. NAI Partners is a full-service firm offering client leasing and sales solutions in the areas of Office Tenant Representation, Office Project Leasing, Industrial Tenant Representation, Industrial Project Leasing, Retail Tenant Representation, Retail Project Leasing, Landlord Services, Property Management, Investment Sales, Valuation and Advisory Services, Partners Facilities Services (PFS), and Project Management, among other lines of business. The company also has an investment fund platform called Partners Capital, and a development vehicle called Partners Development, both of which are wholly owned subsidiaries of NAI Partners. NAI Partners is the top Houston-based full-service commercial real estate firm on the Inc. 5000 list of fastest-growing private companies in America; the 5th-largest Houston-Area Commercial Real Estate Brokerage and #1 Mover of Square Feet among leasing and sales brokerages in Houston per the Houston Business Journal; the only commercial real estate firm on the Houston Business Journal’s Mid-Market 50 list; a top 12 largest San Antonio Commercial Real Estate Brokerage per the San Antonio Business Journal; and a top 20 Property Management Firm by square feet under management in Houston per the Houston Business Journal. NAI Partners has been named a Best Place to Work by the Houston Chronicle, Houston Business Journal and Austin Business Journal; and is among the University of Houston’s Cougar 100 Fastest-Growing Companies.
Commercial real estate in Houston, Austin and San Antonio. NAI Partners offers full-service commercial real estate solutions to Houston, Austin and San Antonio, and has been serving the Houston commercial real estate needs of its clients for more than 20 years. We specialize in finding office space, industrial space and retail space, and can arrange an office lease, industrial lease or retail lease for your company. Our brokers help tenants and landlords or property owners of any size find the perfect real estate space or location for their business needs. For more information, contact us today.