Humphreys Real Estate Income Fund has acquired a nearly 150,000-square-foot shopping center in Corsicana, Texas, strategically positioning itself within a growing retail market.

Target Information

Humphreys Real Estate Income Fund (HREIF) has strategically expanded its retail holdings with the acquisition of a shopping center located in Corsicana, Texas. This significant property encompasses nearly 150,000 square feet and spans across 17 acres, making it a notable addition to HREIF's portfolio. The center is preleased to several nationally recognized tenants, ensuring a steady stream of rental income and providing stability for the fund.

The location of the shopping center further enhances its attractiveness. With favorable submarket dynamics and advantageous tax treatment, the property is well-positioned to capture a large customer demographic. Additionally, its proximity to a large population center with minimal competition within a 25-mile radius positions it strongly for long-term success. Plans for redevelopment are currently underway with a scheduled completion date set for the first quarter of 2025.

Industry Overview

The retail industry in Texas is witnessing a robust recovery post-pandemic, driven by increased consumer spending and a resurgence in brick-and-mortar shopping. The state benefits from a diverse economy, which fuels d