JLL Capital Markets announced Dec. 8 that it has closed the sale of South Frisco Village, a multi-anchored power center totaling 227,041 square feet in the Dallas community of Frisco.
JLL marketed the property on behalf of the seller, InvenTrust Properties Corp. Vista Property Company acquired the asset.
Built in 2001, South Frisco Village is 92 percent occupied by a variety of national and local tenants. The property offers 28 retail suites and is anchored by national tenants, including Bed Bath & Beyond, Jo-Ann Fabrics, Buy Buy Baby, Painted Tree Marketplace.
South Frisco Village is situated along North Dallas’s dominant retail corridor at the northeast corner of Preston road and State Highway 121. Additionally, the property is located near local entertainment, retail and dining hubs, including The Star, Dr Pepper Ballpark, Stonebriar Centre, Legacy West, Granite Park and Shops at Legacy.
The property benefits from strong local demographics, including a population of 300,789 within a five-mile radius, which is expected to grow an additional 12 percent by 2025. The affluent demographic averages an annual household income of $141,604 and has a home value averaging $553,136 within the same radius. Additionally, Frisco’s attractions draw tourists from a five-state radius who shop at South Frisco Village while visiting.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan Shore, Chris Gerard and Barry Brown and Analyst Jack Copher.