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| Village at Cross Roads Shopping Center, Cross Roads, TX |
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| 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.
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| 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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