JLL Capital Markets represents CIM Group and Open Realty Advisors in the sale of the 15-building retail portfolio in Dallas, TX.

  

Erin Lazarus 

DALLAS, TX, May 3, 2022 – JLL Capital Markets announced today it represented a CIM Group-fund and Open Realty Advisors in the sale of the partnership’s 15 standalone and strip retail buildings totaling 123,960 square feet along the dynamic and pedestrian-friendly Henderson Avenue in Dallas, Texas.

 

Financial details of the deal were not disclosed.

 

Acadia Realty Trust acquired the asset in its entry into the Dallas-Fort Worth market.

Beth Copeland

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan Shore, Chris Gerard and Co-Head of JLL Retail Capital Markets Barry Brown, Associate Erin Lazarus and Analyst Beth Copeland.

 

The same team along with Senior Managing Director Todd Savage completed the sale of Knox Park Village on behalf of the seller earlier this year.

 Ryan Shore

Property tenants include Sprouts Farmers Market and an eclectic mix of service-oriented and locally inspired retailers, restaurants and night life such as Warby Parker, The Skellig, Tecovas, Bonobos, and CorePower Yoga brought to the area by CIM Group and Open Realty Advisors. The portfolio also includes several parcels for future development opportunities.

 

The portfolio spans over a mile within Dallas’s urban core and within the highly sought-after Henderson Avenue district, which has evolved over the last 20 years into one of Dallas’ premier mixed-use neighborhoods.

Chris Gerard

The trendy district is surrounded by desirable, affluent residential communities and near Southern Methodist University’s more than 12,000 students.

According to JLL’s Retail Capital Markets team in Dallas, “Henderson Avenue has emerged as Dallas’ ‘cool-street’ retail destination, where young, millennial residents are drawn to the mix of digitally native brands and trendy local restaurants that the ownership team brought to this east Dallas neighborhood.” 

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Barry Brown

For more news, videos and research resources on JLL, please visit our newsroom.

 

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 

Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. 

CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. 

 Todd Savage 

CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. 

About Open Realty Advisors

Open Realty Advisors develops and invest in the communities where they have worked for over three decades, leveraging their relationships and collective experiences to identify the next opportunities to create transformative places. 

CONTACT:

 

 Kimberly Steele

 JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 acadiarealty.com.

 jll.com.

 cimgroup.com.