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A retail real estate portfolio of 11 properties anchored by grocery stores in the Dallas-Fort Worth area has been acquired by an affiliate of Pine Tree Commercial Realty, based in Northbrook, Illinois, for an undisclosed price.
Each of the 11 sites is anchored by a Tom Thumb. All are located in eight Dallas-Fort Worth area suburbs and total 768,865 square feet of retail space. CBRE’s Chris Cozby and Chris Gerard represented the seller, who remained undisclosed.
“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 11 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 Gerard, senior vice president at CBRE.
The properties are:
• 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
ARLINGTON MEDICAL SITE SOLD
A medical office building at 919 W. Randol Mill Road in Arlington has been sold. Alavi Legacy Foundation bought the 3,150-square-foot structure for a pain management clinic set to open in January. Rebecca Harrell of Henry S. Miller Brokerage Investments represented Town Oak Properties in marketing the property.
2GR EQUITY ACQUIRES
DALLAS MEDICAL PROPERTY
2GR Equity of Grapevine has acquired Professional Building One, a 43,950-square-foot medical office building at 1151 North Buckner Blvd. in Dallas. It stands on the campus of Doctors Hospital at White Rock Lake, a Tenent Healthcare Corp. facility.
As a result of a joint venture by Tenant Healthcare and Baylor Scott & White, Doctors Hospital will be primarily owned by Baylor Scott & White and renamed as a Baylor Scott & White campus.
Ryan Dale of Jones Lang LaSalle is handling marketing and leasing for the building. Caddo Real Estate Services of Dallas is handling property management.
“We view the merger and re-branding of this hospital to a Baylor Scott & White facility as a positive for the entire area and for our building,” said David Gregory of 2GR Equity, commenting in a news release.
Teague Nall & Perkins has leased 42,000 square feet at The Everest Building, 5237 N. Riverside Drive in Fort Worth. Andrew Ward and Brian Randolph of Mercantile Partners represented the landlord.
Merit Court Reporters has leased 15,960 square feet at One City Place, 300 Throckmorton St. in Fort Worth. Campbell Henry of Spire Realty Group Inc.-Dallas represented the landlord.
North Texas Kidney Disease Associates has leased 2,250 square feet at 919 Alston Ave. in Fort Worth. C.B. Team of Ellis & Tinsley represented the landlord.
Great Wall of China has leased 4,000 square feet at Shops of Saginaw, 1029 N. Saginaw Blvd. in Saginaw. Barrett England and Roger Smeltzer of Vision Commercial represented the landlord.
HealthTexas Provider Network has leased 3,563 square feet at Baylor Emergency Medical Center, 12500 South Freeway in Burleson. Austin Barrett and Kelley Ahrens of CBRE-Dallas represented the landlord.
Clever Items has leased 3,825 square feet at 321-333 Exchange Drive, Building 2 in Arlington. David Tuttle of KW Commercial-Arlington represented the tenant. Bill Bexley of JSC Realty represented the landlord.
Integrity Texas Funding LP has leased 2,651 square feet at Arlington Downs Tower, 2225 E. Randol Mill Road in Arlington. Robert Snider of RW Snider Investments represented the tenant. Erik Blais and Richmond Collinsworth of Bradford Commercial Real Estate Services-Fort Worth represented the landlord.
Harper Brown has leased 2,083 square feet at Corporate Centre I, 2225 Avenue J in Arlington. Jim Poynter of Poynter Scifres Companies represented the landlord.
The Wild Nest has leased 1,800 square feet at 3919 Colleyville Blvd. in Colleyville. Grant Brodeur of Novus Realty Advisors LLC represented the landlord.
Ichiban Buffet has leased 7,575 square feet at Euless Town Center, 1201 Airport Freeway in Euless. Michael Tran and Taylor LeMaster of Colliers International (USA)-Dallas represented the landlord.
Freestyle Transport has leased 11,270 square feet at Parkway Distribution Center, 801-831 S. Great Southwest Parkway in Grand Prairie. Kacy Jones and Steve Koldyke of CBRE-Dallas represented the landlord.
G.P. Salon Studios has leased 4,000 square feet at DFW Corporate Park, Building 17, 2100 N. State Highway 360 in Grand Prairie. Charles Lester of Charles Lester Realty Advisors represented the landlord.
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