March 21, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Lakeport Commons, a 282,708-square-foot, open-air regional power center in Sioux City, Iowa.
Completed in 2005, Lakeport Commons is 92 percent leased and home to national category-leading retailers, including Gordmans, Best Buy, Staples, Michaels, PetSmart, Old Navy, Party City, Shoe Carnival and Dress Barn. Additionally, Kohl’s shadow anchors the property, and the Southern Hill Mall, which is the only enclosed regional shopping mall within 85 miles and attracts more than six million shoppers annually from three states, is adjacent to the center. The power center is located at 5101 Sergeant Road at the intersection of U.S. Highway 20 and Sergeant Road, which has combined traffic counts of 32,000 vehicles per day. Lakeport Commons serves an expansive trade area holding 127,297 people within 15 miles, and more than 55,950 residents earning an average annual household income of $64,642 live within a five-mile radius of the center.
The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell and managing director Jules Sherwood, a licensed Iowa real estate broker.