Direct Development Sells Market Heights in Texas

by Nate Hunter

Harker Heights, Texas — The 412,645-square-foot Market Heights is anchored by several national tenants including Ross Dress for Less and Bed Bath & Beyond.

Harker Heights, Texas — Cole Credit Property Trust IV Inc. has acquired Market Heights, a 412,645-square-foot power center in Harker Heights. Built in 2007, Market Heights is situated on 80 acres along State Highway 190 near Fort Hood in central Texas. The property is anchored by Ross Dress for Less, Dick’s Sporting Goods, Bed Bath & Beyond, Barnes & Noble, Cinemark and Petco. The center is shadow-anchored by Target.

Doug Hazelbaker, Jim Batjer, Barry Brown and Ryan Shore with HFF represented the seller, Direct Development, in the transaction. HFF also procured the buyer and arranged financing for the acquisition through BofA Merrill Lynch. Kevin MacKenzie and Adam Herrin lead HFF’s debt placement team in the deal.

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