Saturday, July 11, 2015

HFF closes sale of two Dallas-Fort Worth area retail pads




Village at Cross Roads Shopping Center, Cross Roads, TX

Ryan West

HOUSTON, TX - Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of two multi-tenant buildings that total 24,000 square feet and form the outparcel part of Village at Cross Roads shopping center in the Dallas-Fort Worth suburb of Cross Roads, Texas.

HFF arranged the sale of the property on behalf of the seller, Lovett Commercial.

The assets consist of two outparcels located at NEC U.S. Highway 380 and FM 424 at a signalized intersection in Cross Roads, a lakefront community north of Dallas and Fort Worth that sees visitors from nearby Lake Lewisville and Lake Ray Roberts.

 The 100-percent-leased outparcels are home to Mattress Firm, Starbucks, UPS Store, Supercuts, Sally’s Beauty, Fuzzy’s Tacos and T-Mobile. 

The asset is shadow-anchored by an 185,900-square-foot Walmart Supercenter and Village at Cross Roads tenants.  Additionally, the assets will support a proposed 133,500-square-foot, Class A power center. 

Matt Berry
The HFF investment sales team representing the seller was led by managing director Ryan West, associate director Matt Berry and real estate analyst Robbie Kilcrease.

“Village at Crossroads presented an opportunity to purchase a brand new 100-percent-leased asset shadow-anchored by a Walmart Supercenter,” Berry said.

 “The asset’s long-term leases and stable cash flow attracted several investors looking for Class A quality properties. 

" Buyers are aggressively seeking similar assets in the market, as they can achieve quality returns with accretive debt terms available.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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