Retail L Iowa

HFF closes sale of 96,000-square-foot grocery-anchored retail center in Dubuque

HFF closes sale of 96,000-square-foot grocery-anchored retail center,ph01

Holliday Fenoglio Fowler, L.P. closed the sale of and acquisition financing for Warren Plaza, a 96,310-square-foot, grocery-anchored shopping center in Dubuque, Iowa.

The HFF team marketed the property for the seller, Brixmor Property Group. The DESCO Group purchased the asset. The HFF team also arranged a fixed-rate loan to finance the acquisition.

Anchored by a market-dominant Hy-Vee grocery store, the 90.5-percent-leased Warren Plaza is also home to Super Cuts, Video Games Etc!, Miracle Ear and Great Dragon Restaurant in addition to Chick-fil-A, which is on a ground lease.

The center is shadow-anchored by the only Target within 75 miles. Situated on 13.33 acres at 3500 Dodge St., Warren Plaza is located along the highly trafficked U.S. Highway 20 retail corridor in Dubuque.

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell along with managing director Jules Sherwood, a licensed Iowa real estate broker.

The HFF debt placement team included director Christopher Knight.