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Marketplace at Highland Village, Highland Village, TX |
DALLAS, TX – HFF announced it has closed the sale of Marketplace
at Highland Village, a 195,652-square-foot power center in Highland
Village, Texas.
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| Jim Batjer |
HFF
marketed the property on behalf of the seller, Founders Properties, L.L.C. DDR Corp. purchased the asset for an
undisclosed amount free and clear of existing debt.
Marketplace at Highland Village is located on the northeast
corner of F.M. 2499 (Village Parkway) and F.M. 407 (Justin Road) approximately
30 miles northwest of downtown Dallas.
Completed in 2007, the property is 90 percent leased to tenants including
TJ Maxx, LA Fitness, Office Depot and Petco.
The property is shadow-anchored by a separately owned
203,000-square-foot Wal-Mart Super Center.
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| Barry Brown |
The
HFF team representing the seller was led by senior managing directors Barry
Brown and Jim Batjer.
Headquartered in Minneapolis, Founders Properties, L.L.C. is
a privately held company that provides a full range of acquisition, financing,
asset management and investment services for high-net-worth investors. The company’s current portfolio of
approximately 100 institutional grade properties includes office, industrial,
retail and mixed-use projects located throughout the United States.
DDR Corp. is an owner and manager of 454 value-oriented
shopping centers representing 116 million square feet in 39 states, Puerto Rico
and Brazil.
The company's assets are
concentrated in high barrier-to-entry markets with stable populations and high
growth potential and its portfolio is actively managed to create long-term
shareholder value. DDR is a
self-administered and self-managed REIT operating as a fully-integrated real
estate company, and is publicly traded on the New York Stock Exchange under the
ticker symbol DDR. Additional
information about the company is available at
For a complete copy
of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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