94.4 F
Fort Worth
Tuesday, August 4, 2020

Shopping center in Southlake sold

Other News

Pier 1 brand to remain alive online

Fort Worth-based Pier 1 Imports is coming to the end of its life as a brick-and-mortar retail business, but a pair of...

Longtime Fort Worth boutique closing its doors

Earth Bones Boutique & Gift Store as well as a companion store, Retro Cowboy in Sundance Square either have closed or will...

Walgreens CEO Pessina to step down, become executive chair

By TOM MURPHY AP Health WriterWalgreens' Stefano Pessina will step down as CEO and become executive chairman once the drugstore chain finds...

Target joins Walmart in ending Thanksgiving store shopping

By ANNE D'INNOCENZIO AP Retail WriterNEW YORK (AP) — Target is joining Walmart in closing its stores on Thanksgiving Day, ending a...

A shopping center at the center of the Southlake’s Retail District was recently sold to a private exchange buyer.

Dallas-based Disney Investment Group brokered the sale of the 126,654-square-foot Kimball Oaks, located at the southwest corner of Kimball Ave. and Southlake Blvd. Strode Property Company was the previous owner.

The shopping center was 97% leased at the time of sale. A PGA Tour Superstore anchors the community retail center. There is also a Marshalls, a Tuesday Morning and a Bassett Furniture among other retailers and restaurants.

The businesses at the center have a weighted average remaining lease term of 12.2 years.

According to Disney, the sale closed within 32 days from the time when the professional services contract was signed, which is “significant since larger shopping center deals like Kimball Oaks rarely ever close this quickly.”

The shopping center is one of two shopping centers and a single-tenant retail properties Disney sold recently that totals more than $110 million.

Kimball Oaks is situated less than one mile away from Southlake Town Square, which was also sold by Disney about 15 years ago.

- Advertisement -
- Advertisement -

Latest News

Nanoscope receives 2020 STEP Grant from Texas Department of Agriculture

Nanoscope Instruments was recently awarded a 2020 STEP Grant from the Texas Department of Agriculture (TDA) to facilitate...

USS Fort Worth Support Committee gets new executive director

Hanna Bell is the new executive director of the USS Fort Worth Support Committee, returning to her hometown...

JLL arranges equity, construction financing for South Fort Worth Logistics Center

JLL Capital Markets announced Aug. 4 that it has arranged equity and construction financing for South Fort Worth Logistics Center, a state-of-the-art,...

U.S. Concrete: 2Q Earnings Snapshot

EULESS, Texas (AP) _ U.S. Concrete Inc. (USCR) on Tuesday reported second-quarter profit of $6.6 million.The Euless, Texas-based company said it had...

Jacobs Engineering: Fiscal 3Q Earnings Snapshot

DALLAS (AP) _ Jacobs Engineering Group Inc. (J) on Monday reported fiscal third-quarter net income of $244.9 million.The Dallas-based company said it...