(Dallas, Texas) September 23, 2015
– Encore Retail, LLC, a subsidiary of Dallas-based Encore Enterprises, Inc., has announced the sale of Gulfport Plaza, a 34,036 square-foot retail center located in Gulfport, Mississippi.
“Our strategy for Gulfport Plaza was one of value add repositioning,” said Nicholas Barber, President of Encore Retail. “We were able to increase gross leasable area by 28% and secure Petco as a new, long-term anchor. This allowed us to maximize the value of the project for our investors.”
The property is shadow anchored by a Super Wal-Mart and boasts a myriad of national and regional retailers including CATO, It’s Fashion, Advance America, GNC, Sally Beauty Supply, GameStop, and Petco.
Sale of Gulfport Plaza, Encore Retail, LLC
“The sale of Gulfport plaza is part of our continued strategy to acquire, develop, and redevelop retail shopping centers and NNN single-tenant properties,” said Bharat Sangani, Chairman of Encore Enterprises. “The sale of this property will enable us to purchase and develop other properties, enabling us to expand our retail presence to other areas of the country.”
Gulfport Plaza was sold to FMOC, LTD out of Austin, Texas for an undisclosed sum and brokered by Cliff Taylor, CCIM of CBRE.
About Encore Retail, LLC
Encore Retail, LLC is a privately held commercial real estate company focused on the acquisition, ownership, development, redevelopment and management of retail shopping centers from California to New York with locations across the United States. For more information, contact Encore Retail, LLC., or call (214) 259-7000.
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