Medically anchored Far West retail center attracts California-based buyer

Crown Meadows Shopping Center

California-based CJ Park and Associates has bought Crown Meadows Shopping Center, in San Antonio for an undisclosed price.

Food and medical are known as the most stable tenants in San Antonio’s retail market, so the medical group-anchored, 52,732-square-foot Far West shopping center was an attractive investment for the Beverly Hills real estate development, management and investment firm.

The seller, Culebra-Crown Meadows Ltd. is an affiliate of Houston-based Carmichael Development Co. The HFF investment sales team representing the seller included Senior Managing Director Rusty Tamlyn, Managing Director John Taylor, Associate Director Matt Berry and real estate analyst Robbie Kilcrease.

The two-building center at 7614-7616 Culebra Road is spread across more than 4.5 acres and includes medical office, retail and restaurant tenants. Crown Meadows is 92.1 percent leased to Baptist Health System, W Dental Group, Fast Eddie’s Billiards, Supercuts, Umberto’s Italian Grill and anchor Gonzaba Medical Group.

Click to read entire article: Medically anchored Far West retail center attracts California-based buyer (San Antonio Business Journal, 06-26-15)