Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price. Jennifer Pierson, Beth Pierson and Cameron Deptula with CBRE Capital Markets’ Retail Investment Properties in Dallas represented the seller, Austin-based Wes Walters Realty Inc. Hulen Pointe is comprised of four buildings totaling 174,783 square feet and is 47.6 percent occupied by a combination of national, regional and local tenants. Anchor tenants include Dollar Tree, Dickey’s BBQ, State Farm and Great Clips. More than a quarter of the tenants have occupied space at Hulen Pointe for more than 10 years. “We are ready to lease about 45,000 square feet to national tenants and bring the center’s occupancy to 80 percent,” said Avery. “We are ready to be aggressive on rental rates.” Numerous premier retailers surround the property, including Walmart Supercenter, Kroger, Guitar Center and Barnes & Noble. The recently opened Chisholm Trail Parkway, a 27-mile toll road from downtown Fort Worth to Cleburne, has increased traffic counts near the center. “Hulen Pointe is a unique asset that offers stability and upside – 28 percent of the tenants have enjoyed strong businesses at the property for more than 10 years, however Hulen Pointe was only 48 percent occupied at the time of sale,” said Jennifer Pierson, senior vice president with CBRE. “It was the right time for this seller to dispose of the asset as they have owned it for many years. It’s a win/win for both transaction parties.”
-Betty Dillard bdillard@bizpress.net