DNA Partners Sells Helotes Plaza in Helotes, TX
On September 13, 2017 DNA Partners sold Helotes Plaza to Milam Real Estate Capital. Helotes Plaza is a 100% occupied, 50,000 square foot neighborhood center in San Antonio, TX anchored by Dollar Tree, Advanced Auto, and Dairy Queen.
When DNA acquired Helotes in 2007, although 50% of the property was destroyed by fire during the contract period, DNA still closed. After closing, DNA sold a parcel to CVS and developed the remaining land area in 2009. Prior to selling the asset, DNA completed a facade renovation and replaced the roofs. “Going forward, DNA is looking to acquire mixed-use centers with retail and multifamily with our primarily focus in the Carolina’s” says David Weinstein, partner at DNA.
This sale brings the current owned and managed DNA portfolio to 970,000 square feet. Since its inception in 2002, DNA purchased and sold over 2,100,000 square feet. DNA targets high growth markets with below market rents, reposition potential, significant linear frontage, and reasonable potential for capital appreciation through management and leasing opportunities.
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