Kobalt Investment Company and The Retail Connection Complete Acquisition of Sherman Commons for Future Growth

Kobalt Investment Company and The Retail Connection Acquire Sherman Commons

In a significant move within the commercial real estate sector, Kobalt Investment Company and The Retail Connection have finalized the acquisition of Sherman Commons, a retail center spanning 275,477 square feet located in Sherman, Texas. With an impressive occupancy rate of 98%, this power center boasts several well-known tenants including Academy Sports + Outdoors, Kohl's, Five Below, Ulta, Office Depot, and PetSmart.

Kobalt Investment Company's CFO and Partner, Ginnie McCorkle, highlighted that Sherman Commons represents an outstanding investment opportunity due to its strategic location and robust tenant mix. "The economic trajectory of Sherman, which is rapidly becoming known as 'The Silicon Prairie,' made this acquisition particularly appealing," she stated. This growth is fueled by substantial investments in the area, including a colossal $30 billion semiconductor facility by Texas Instruments that will create approximately 3,200 jobs, and a separate $5.1 billion silicon wafer plant by Global Wafers which is set to add another 1,700 jobs.

The acquisition also includes two vacant outparcels which present future development opportunities, enhancing the investment's potential even further. Alan Shor, Co-Founder and President of The Retail Connection, expressed confidence in the site's prospects, stating, "Sherman Commons is located at the prime retail intersection for the entire Sherman region. By leveraging our extensive tenant relationships, we aim to introduce new retailers to the center, enriching the shopping experience for the local community."

Andy Crosland, Founding Partner of Kobalt Investment Company, emphasized the collaborative strength of their partnership with The Retail Connection. "Our alliance combines investment acumen with retail expertise, which we believe will fully maximize Sherman Commons’ potential as the area experiences transformative growth."

This acquisition signifies not just an expansion for Kobalt Investment Company and The Retail Connection, but also a commitment to enhance the retail landscape in Sherman, Texas. The strategic investments in local infrastructure and employment are set to position Sherman Commons as a key player in the region's economic resurgence.

About Kobalt Investment Company

Kobalt Investment Company specializes in acquiring, leasing, and managing retail centers in dynamic growth markets. They focus on creating value through strategic redevelopment and effective leasing strategies. For further details, visit their website at kobaltinvestco.com.

About The Retail Connection

Representing over 300 retail, restaurant, and entertainment brands across the country, The Retail Connection manages over 30 million square feet of retail properties in Texas and neighboring states. Their service offerings extend into development, acquisition, and financial avenues, further diversifying their portfolio. More information can be found at theretailconnection.net.