Kobalt Investment Company has acquired a controlling interest in the Rio Norte Shopping Center, situated in Laredo, TX. The 222,291-square-foot Class A retail center was purchased through a partnership between Kobalt and Stonefield Investment Advisors LLC of Dallas and Espada Real Estate of San Antonio. The seller was represented by JLL.
Strategically located off Interstate 35, the shopping center is at the heart of Laredo’s bustling retail district which includes major retailers such as Walmart Supercenter and Mall del Norte – a super-regional mall spanning over 1.2 million square feet. Boasting anchor tenants like Ross Dress for Less in Texas along with other popular brands like Michael’s, Petco, Dollar Tree and Shoe Carnival among others; Rio Norte Shopping Center offers an attractive mix to shoppers.
JLL’s Retail Capital Markets Investment Sales team led by Adam Howells and Matthew Barge facilitated this transaction.
Lying on U.S I-35 bordering Mexico on one side while Mexican Federal Highway 85 runs parallel to it; Laredo serves as America’s largest inland port besides being one of its oldest border crossing points.
