FORGE ANNOUNCES ACQUISITION OF LONE OAK SHOPPING CENTER
Forge Real Estate Partners V, LP, a joint venture between Forge Capital Partners and The Sembler Company, has acquired Lone Oak Shopping Center, a 104,485 square foot grocery anchored shopping center located in San Antonio, Texas.
The Property is anchored by H-E-B, a Texas based grocery chain that was founded in San Antonio and dominates South and Central Texas. H-E-B operates over 435 stores between the United States and Mexico, and reported 2024 revenues of approximately $46.5 billion, ranking it as the fifth-largest privately-owned company in the United States. The remaining tenant mixed is leased to a complimentary mix of national tenants including Citi Trends, Hibbett Sports and Little Caesars. The Property is located along WW White Road which is a major north to south thoroughfare averaging 22,000 vehicles per day within the San Antonio Loop 410 beltway. This area of the Eastern Triangle District is primarily residential and occupied by a primarily blue-collar workforce that is heavily employed by surrounding industrial facilities. The Property presented an excellent opportunity to acquire a necessity-based retail shopping center at well below replacement costs in a major infill market, with upside potential through mark-to-market and remerchandising opportunities.
About Forge
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. Forge has built a solid track record as an acquirer and operator of commercial real estate, specializing in socially responsible projects throughout the Southeast. Since 2000, Forge and its principals have successfully sponsored and managed four real estate oriented, closed-end private equity funds, and executed over a billion dollars in retail and multifamily real estate transactions.
About Sembler
The Sembler Company is celebrating over 60 years of creating retail real estate value. Sembler provides a full array of retail real estate services, including development and redevelopment, acquisition, property and asset management, leasing and other related services throughout the Southeastern United States and Puerto Rico. Sembler, headquartered in St. Petersburg, Florida, has developed more than 350 projects totaling 28 million square feet and currently leases and manages 8 million square feet.