Friday, July 28, 2017

HFF closes sale of and arranges financing for northeast Dallas, TX retail center

Aaron Johnson
DALLAS, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for Northview Plaza, a 116,099-square-foot, grocery-anchored community shopping center in northeast Dallas, Texas.

HFF marketed the property on behalf of the seller, California-based MDT Properties.  A partnership between Foundry Commercial and Stockbridge purchased the asset free and clear of existing debt.

Additionally, HFF worked on behalf of the new owners to place the floating-rate loan with First Midwest Bank.  Loan proceeds will be used to fund the acquisition and capital improvements at the property.

Situated on 15.46 acres at 10675-10677 East Northeast Highway in the northeastern part of Dallas, Northview Plaza is located at the intersection of the Northwest Highway and Plano Road, which have combined traffic counts of approximately 51,771 vehicles per day.

  The center is located in an urban infill location inside the Interstate 635 loop between the Lake Highlands and White Rock Lake neighborhoods, both of which have seen significant gentrification since 2010.

Ryan Shore
 More than 122,000 residents with an average annual household income of $78,000 live within three miles of the center. 

Completed in 1991, Northview Plaza is 86 percent leased to a mix of national and local retailers and restaurants, including Kroger, Petco, Allstate Insurance, T-Mobile, Go 4 It Sports Grill, Great Clips McDonald’s and White Rock Chiropractic.

The HFF investment sales team representing the seller was led by director Aaron Johnson, managing director Ryan Shore and senior managing directors Jim Batjer and Barry Brown.

The debt placement team representing the new owner was led by senior director Jim Curtin.

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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