SAN ANGELO, Texas – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of Sunset Plaza, an approximately 92,000-square-foot shopping center shadow-anchored by Target and featuring national retailers such as Ross Dress for Less, HomeGoods and Petco in San Angelo, Texas. In nine months, Hanley Investment Group has sold seven junior-box-anchored shopping centers for a combined total in excess of $151 million and nearly one million square feet.
Hanley Investment Group’s Vice President Garrett Wood, Executive Vice President Kevin Fryman, and Senior Vice President Lee Csenar, in association with ParaSell, Inc., represented the seller, a private investor from Orange County, California. The buyer, a private investor from Mexico City, Mexico, represented themselves.
“We procured a repeat private investor who had recently acquired a similar power center in Texas. Their experience with the asset type helped ensure the closing. Sunset Plaza had been previously listed, but our targeted approach, ability to add value and trusted relationships ultimately brought the transaction to a successful close,” Wood said.
“On behalf of the seller, we also negotiated a long-term Petco lease to support a smooth closing and maximize value,” Fryman said. “The lease extension further enhanced the property’s appeal.”
Built in 2005 on 8.42 acres, Sunset Plaza is located at 4157-4219 Sunset Drive in San Angelo, one of the largest cities in West Central Texas. The shopping center is shadow-anchored by Target (not included in the sale) and features a tenant mix that is 98% national retailers, including Ross Dress for Less, HomeGoods, Petco, Five Below, Bath & Body Works, Buckle and GameStop. Sunset Plaza sits across from Sunset Mall, a regional shopping destination anchored by Dillard’s, JC Penney, Marshalls and Murdoch’s, which draws more than two million annual visitors.
According to Csenar, in recent years, the center has undergone a notable retail evolution as Bath & Body Works, Five Below, HomeGoods and Buckle replaced former tenants Bed Bath & Beyond, Kirkland’s Home, Rue 21 and Versona Accessories. The owner successfully repositioned the property by securing stronger, value-oriented and experience-driven retailers, a transition made possible by the center’s strong location and established regional draw. Target, which is not part of the sale, has operated at this site for more than 26 years and completed a major remodel in 2018, further reinforcing the long-term stability of the trade area.
Sunset Plaza is the only Target-anchored power center within a 95-mile radius and ranks among the top 20% most-trafficked shopping centers in the United States, according to Placer.ai. The property benefits from strong visibility along Loop 306 and Sherwood Way/U.S. Route 67 and has demonstrated consistent leasing momentum, resulting in a weighted average lease term of 6.5 years, Wood reports. Recent leases and extensions include Petco, Ross Dress for Less, HomeGoods, Bath & Body Works, Buckle, GameStop and Five Below.
“Sunset Plaza’s strong national tenant roster, long-term operating history, and regional dominance made it a highly attractive investment opportunity,” Fryman said. “With virtually no competition within a 95-mile radius and Target successfully operating at this location for more than 26 years, the property provides stable cash flow and long-term growth potential.”
Wood, a seventh-generation Texan whose hometown is San Angelo, said the transaction carried personal significance. “This deal was especially meaningful for me. Being able to represent a property of this scale in the community where I grew up is something I take great pride in. With our Austin office and boots-on-the-ground presence across the state, we’re able to provide clients with comprehensive market insights and hands-on service that strengthens Hanley’s reach and value delivery throughout Texas.”
San Angelo serves as the center of commerce, government, medicine and higher education in West Central Texas. The city is home to Goodfellow Air Force Base, which has a population of 27,000 and contributes $3.1 billion in annual economic impact, and Angelo State University, a Texas Tech University System institution with more than 11,250 students and $208 million in annual economic impact. San Angelo Regional Airport provides daily direct flights to Dallas/Fort Worth International Airport on American Airlines.
“San Angelo’s diverse economic base and strong regional draw support the long‑term viability of Sunset Plaza,” said Wood. “Historically, junior‑box‑anchored shopping centers were primarily acquired by public REITs, but today we are seeing more private investors enter this segment of the market. Properties like Sunset Plaza, with its stable mix of value-oriented retailers, regional dominance and favorable demographics, align with current demand for retail investments that provide reliable cash flow and long-term growth potential.”
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over a $12.5 billion transaction track record that specializes in the sale of retail properties nationwide. The company’s expertise, proven track record, and dedication to putting clients’ needs first set it apart in the industry. Hanley Investment Group creates value by delivering exceptional results through property-specific marketing strategies, cutting-edge technology, and local market knowledge. Hanley Investment Group’s relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers translate into maximum exposure and pricing for each property. With unmatched service and more than 20 years of experience, Hanley Investment Group has redefined the experience of selling retail investment properties.
For more information, visit www.hanleyinvestment.com.
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Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Garrett Wood, Vice President
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Phone: 512.712.3657
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
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Website: https://hanleyinvestmentgroup.com/