Cleveland, Texas — Baker Katz has sold the 11,438-sq.-ft. Cleveland Shopping Center in Cleveland, Texas. Baker Katz facilitated the transaction with a local investor. Financial details remain private.
The shopping center is located on Southline Street near Cleveland’s busiest thoroughfare with well-known retailers such as a Wal-Mart Supercenter and H-E-B nearby. With an occupancy rate of 100%, the center is home to a number of national credit companies, including EZ Loan, OneMain Financial, Jackson Hewitt Tax Services, as well as Verizon Wireless, Nail Art, Domino's Pizza, Enterprise Rent-A-Car and Armed Forces Career Center.
Baker Katz purchased the property in 2005, when it was home to a used-car dealership, and redeveloped it into the current retail center.
Baker Katz is an X Team International partner and full-service commercial real estate brokerage specializing in retail tenant representation, project development, leasing and investment sales.
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation.