{"id":1004718086,"date":"2024-06-19T04:27:05","date_gmt":"2024-06-19T12:27:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004718086"},"modified":"2024-06-19T05:12:24","modified_gmt":"2024-06-19T13:12:24","slug":"kobalt-investment-buys-222-ksf-texas-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/","title":{"rendered":"Kobalt Investment Buys 222 KSF Texas Shopping Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"3341\" height=\"2509\" data-attachment-id=\"1004718088\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/cinemark-laredo-tx-5412-san-bernardo-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rio-Norte-e1718792012960.jpg\" data-orig-size=\"3341,2509\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Commercial photographer Alexande&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1549215784&quot;,&quot;copyright&quot;:&quot;www.AlexanderAleman.com and JLL&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Cinemark Laredo TX, 5412 San Bernardo Ave&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Cinemark Laredo TX, 5412 San Bernardo Ave\" data-image-description=\"&lt;p&gt;Rio Norte Shopping Center spreads on some 16 acres. Image courtesy of JLL &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rio Norte Shopping Center spreads on some 16 acres. Image courtesy of JLL &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rio-Norte-e1718792012960.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rio-Norte-e1718792012960.jpg\" alt=\"Rio Norte\" class=\"wp-image-1004718088\" style=\"object-fit:cover;width:400px;height:300px\"\/><figcaption class=\"wp-element-caption\">Rio Norte Shopping Center spreads on some 16 acres. <em>Image courtesy of JLL <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Kobalt Investment Co. has purchased a controlling interest in Rio Norte Shopping Center, a 222,291-square-foot Class A retail center in Laredo, Texas. The firm partnered with Stonefield Investment Advisors LLC and Espada Real Estate to acquire the asset. <\/p>\n\n\n\n<p>JLL brokered the transaction on behalf of the seller, a joint venture between Auerbach Opportunity Fund I LP and Elevation Real Estate.<\/p>\n\n\n\n<p>Anchored by Ross Dress for Less, Rio Norte Shopping Center features a diverse mix of regional and national retailers such as Michael\u2019s, Petco, Dollar Tree, Shoe Carnival, Five Below, dd\u2019s discounts, Spec\u2019s, SAS Shoes and Cicis Pizza, among others.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/how-retail-properties-are-getting-greener\/\">How Retail Properties Are Getting Greener<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>JLL Senior Managing Director Adam Howells and Associate Matthew Barge led the Retail Capital Markets Investment Sales and Advisory team which represented the seller.<\/p>\n\n\n\n<p>Located at 5404-5506 San Bernardo Ave., in the heart of Laredo\u2019s retail core, the property is near Interstate 35, in an area where the daily traffic count reaches around 87,265 vehicles, according to Kobalt. Rio Norte Shopping Center serves approximately 173,673 individuals within a 5-mile radius, with the average household income of $78,415.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-laredo-s-retail-core\">Laredo&#8217;s retail core<\/h2>\n\n\n\n<p>Over recent years, Laredo\u2019s retail sector has flourished, according to Texas A&amp;M University&#8217;s Real Estate Research Center. Retail stores and restaurants are increasingly choosing the Bob Bullock Loop, which connects Interstate 35 to South Laredo, over the traditional I-35 corridor. <\/p>\n\n\n\n<p>The corridor has long been the primary retail hub in Laredo, attracting shoppers from Nuevo Laredo and Monterrey, Mexico. However, the emergence of Loop 20 has shifted retail activity, now drawing in both local customers and a growing number of Mexican shoppers, the same source reveals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL brokered the transaction on behalf of the seller.<\/p>\n","protected":false},"author":3014,"featured_media":1004718088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,51973],"tags":[50593,32796],"class_list":["post-1004718086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-southwest","tag-auerbach-funds","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kobalt Investment Buys 222 KSF Texas Shopping Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Kobalt Investment Co. has purchased a controlling interest in Rio Norte Shopping Center, a Class A retail center in Laredo, Texas.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kobalt Investment Buys 222 KSF Texas Shopping Center\" \/>\n<meta property=\"og:description\" content=\"Kobalt Investment Co. has purchased a controlling interest in Rio Norte Shopping Center, a Class A retail center in Laredo, Texas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-19T12:27:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-19T13:12:24+00:00\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rio-Norte-e1718792012960.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/\",\"name\":\"Kobalt Investment Buys 222 KSF Texas Shopping Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rio-Norte-e1718792012960.jpg\",\"datePublished\":\"2024-06-19T12:27:05+00:00\",\"dateModified\":\"2024-06-19T13:12:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Kobalt Investment Co. has purchased a controlling interest in Rio Norte Shopping Center, a Class A retail center in Laredo, Texas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kobalt-investment-buys-222-ksf-texas-shopping-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rio-Norte-e1718792012960.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rio-Norte-e1718792012960.jpg\",\"width\":3341,\"height\":2509,\"caption\":\"Rio Norte Shopping Center spreads on some 16 acres. 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