A pair of Houston firms have bought the Hammond Aire Plaza on Airline and Old Hammond highways, according to sales documents.
Doing business as Hammond Aire LLC, CRS Realty along with Mont Belvieu Properties V LLC bought the property. The two firms purchased the property from Viking Investments G&I VIII Hammond LLC. As reported by Daily Report, Viking Investments bought the shopping center in late 2015 as part of a nearly $60 million deal that also included a Lake Charles shopping center.
Though Hammond Aire and Mont Belvieu bought the shopping center for $100 “and other good and valuable consideration,” an online listing advertised the center for sale for $45.8 million, or $110.34 a square foot. Hammond acquired a 97% ownership interest, while Mont acquired 3% interest.
The deal includes nearly all the buildings in the shopping center, including the buildings occupied by Michaels, Stein Mart, Marshalls, Burlington Coat Factory, Foot Locker, GNC and Roman’s Cafe.
The deal does not include the building occupied by Albertsons, which has for years been owned by a separate entity and which traded hands last year. That building was bought by a California businessman in June for $10 “and other good and valuable consideration.”
