DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of The Shops at Preston Ridge, (photo top left) a 59,973-square-foot retail lifestyle center in Frisco, Texas.Managing director Adam Howells and senior managing director Jim Batjer marketed the property on behalf of the seller, Oakridge Investments, a Dallas-based retail developer.
A German investment fund advised by Phoenix Property Company purchased The Shops at Preston Ridge for an undisclosed amount free and clear of debt.
Completed in 2007, The Shops at Preston Ridge is fully leased to tenants including Eurway, Brides by Demetrios, LaMadeleine, Mattress Giant and Paciugo. The property is situated on 6.4 acres at 8008 State Highway 121 in the far north Dallas suburb of Frisco.
“The Shops at Preston Ridge is located in the retail area known as ‘Frisco Bridges’, which has nearly four million square feet of retail space that draws an estimated 22 million visits per year and produces retail sales of approximately $1 billion annually,” said Howells. “In addition the property is shadow–anchored by Ikea, Rooms-to-Go and Ashley Furniture and is adjacent to the super regional mall, Stonebriar Centre.”
Contacts:
Laurie Fish McDowell
Associate Director HFF
Associate Director HFF
One Post Office Square,
Suite 3500
Boston, MA 02109
tel 617.338.0990
tel 617.338.0990
fax 617.338.2150
Adam T. Howells
HFF Managing Director
214 265 0880
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