Tuesday , 27 September 2016
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D-FW Retail Portfolio Sold: 11 Grocery-Anchored Centers

Eleven retail centers sold in D-FW area.

Eleven retail centers sold in D-FW area.

DALLAS – An affiliate of Pine Tree Commercial Realty bought a 756,865-square-foot grocery-anchored retail portfolio in the Dallas-Fort Worth Metroplex, the  CBRE Capital Markets’ National Retail Investment Group announced.

The portfolio is comprised of 11 retail centers, each anchored by Tom Thumb. It is 97 percent occupied. The individual assets include:

  • Heritage Heights in Colleyville
  • Park West Plaza in Southlake
  • Flower Mound Crossing and The Highlands in Flower Mound
  • Cross Timbers Court in Lewisville
  • Josey Oaks Crossing in Carrollton
  • Hunter’s Glen Crossing, Suncreek Village and 14th Street Market in Plano
  • Shiloh Square in Garland
  • Pioneer Plaza in Mesquite

 “Grocery-anchored retail centers remain the product of choice for most investors. This portfolio was particularly appealing to the market because of the locations of the eleven properties. The centers are located in some of the best suburbs in the Metroplex with stellar demographics—the average household income across the portfolio is $104,000 and the average population is 94,000—which will support steady occupancy over the long-term,” said Chris Gerard, Senior Vice President, CBRE. Chris Cozby and Gerard, with CBRE’s Dallas office, represented the seller.

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