ST. PETERSBURG, FL – The Sembler Company and Forge Capital Partners, through their Forge Real Estate Partners V (FREP) investment fund, recently purchased Lone Oak Shopping Center, a 104,485 square-foot retail center located at 907 S. WW White Road.
This fully occupied, essential retail destination benefits from an established H-E-B location with a sixty year operating history and proximity to a critical H-E-B distribution center. The center’s tenant lineup includes long-standing national and regional brands such as Citi Trends, Hibbett Sports, The Smile Center, H&R Block, Metro by T-Mobile, Little Caesars, and Ace Cash.
“This acquisition aligns perfectly with our strategy of investing in high-performing, necessity-based retail centers,” said Sembler CEO Greg Sembler. “San Antonio is a thriving market with strong economic fundamentals, and we’re excited to add another well-established, grocery-anchored asset to our portfolio.”
“H-E-B is a dominant grocery brand in Texas, and its long-standing presence at this location ensures strong customer traffic,” said Sembler Director of Leasing Serina Morison. “We look forward to working with our tenants and maximizing the center’s potential in this growing community.”
Sembler will serve as Property Manager and Leasing Agent. For leasing inquiries, please contact Serina Morison at serina.morison@sembler.com.
Through their FREP funds, Sembler and Forge have now acquired 23 shopping centers together across Florida, Georgia, North Carolina, Tennessee, Virginia, and Texas. The partners remain actively engaged in seeking additional investments in grocery-anchored shopping centers throughout the Southeast.
FREP focuses on acquiring, developing, and redeveloping retail real estate projects in the southeastern United States. As a community development entity, FREP aims to provide strong investor returns while fostering economic revitalization, business development, and job creation in underserved communities. Investors include public financial institutions benefiting from Community Reinvestment Act credit for these investments.
About The Sembler Company
Founded in 1962, The Sembler Company is a family-owned and -operated commercial real estate company that offers a full roster of services including development and redevelopment, acquisition, leasing and property management. Headquartered in St. Petersburg, Fla., the company has completed more than 350 developments totaling 29 million sq. ft. with eight million sq. ft. of real estate leased and managed. For more information visit sembler.com.
About Forge Capital Partners
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. The firm carries out its business strategy by sponsoring value-add retail real estate private equity funds. Since 2000, Forge and its principals have successfully sponsored real estate-oriented, closed-end private equity funds, and executed over $1 billion of retail and multifamily real estate transactions. Forge is headquartered in Tampa, Fla. For more information about Forge Capital Partners, please visit forgecapitalpartners.com
