N3 Real Estate Closes on Burlington Coat Factory in Clovis CA

Southlake, Texas — May 8, 2013

N3 Real Estate of Southlake, Texas closed on the acquisition of a 50,820 square foot building located at 70 W. Shaw Avenue, Clovis, California. The building will be converted and leased to Burlington Coat Factory. Burlington Coat Factory is expected to open in November 2013.

N3 Real Estate partnered with Gryphon Capital to quickly evaluate and close on the transaction in just two weeks. Gryphon Capital was able to secure the site and tenants through its existing relationships. Lewis Smith of Retail California represented the landlord in the transaction.

N3 Real Estate is a fully integrated retail real estate investment development firm based in Southlake, Texas. Founded in 2004, N3 has developed more than 200 single and multi-tenant retail projects for national and local retailers across the United States. Today, N3 owns and manages more than $200 million of retail projects for its investors with plans to grow the portfolio to $200 million by the end of the year.

Gryphon Capital is a privately-held real estate company that specialilzes in the acquisition and development of shopping centers and mixed-use projects in the Western United States.

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