Texarkana, Texas — National Asset Services (NAS), one of the country's leading commercial real estate companies, has been selected as the asset management company for a 56,427-square-foot portion of Richmond Ranch Shopping Center in Texarkana, Texas.
NAS, which has a proven record of successfully managing properties for over 90 ownership groups, assumes management responsibilities for the retail shops on behalf of 28 tenants-in-common (TIC) co-owners, who each have a deeded interest in their portion of the retail property. Constructed in 2004-2005, the TIC group acquired the property investment in August 2007 for $12,987,500.
Anchored by a 19,107 square-foot PetSmart, the NAS-managed portion of the Richmond Ranch Shopping Center features a collection of well-known national and regional retail stores, including Starbucks Coffee, The UPS Store, Wells Fargo, Game Stop, Payless Shoes and Sally Beauty Supply.
Connected to the retail shops are Target and Kohl's department stores that serve as shadow anchors for the property. Richmond Ranch Shopping Center is part of a larger concentration of national retail stores that includes Home Depot and Discount Tire Center, which also serve as regional draws to the center. The NAS-managed portion of the property is currently over 96% leased and occupied.
NAS is a commercial real estate asset and property management company that works with over 90 investment groups in properties of a nationwide portfolio valued at over $2 billion. For more information, visit nasassets.com.
SOURCE: National Asset Services