Five Points Shopping Center, a 276,593-square-foot retail center, was purchased by MIMCO.
CORPUS CHRISTI, TX—A lack of new development in Corpus ensures tenants will remain at properties for a hefty lease block. And when the time is right for a sale, popular tourist markets like these are attractive because the basic fundamentals of employment and population growth promote strong profits.
One such property is Five Points Shopping Center, a 276,593-square-foot retail center, anchored by Ross, Hobby Lobby, Party City, Bealls, CVS, Petco, Harbor Freight Tools and a freestanding Whataburger. Texas-based retail investment and development company MIMCO purchased the asset from Brixmor Property Group for an undisclosed price.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
