Done Deals: JLL Capital Markets closes sale and arranges acquisition financing of retail asset anchored by Target and H-E-B in Odessa, TX

Friday, July 9, 2021

JLL Capital Markets closes sale and arranges acquisition financing of retail asset anchored by Target and H-E-B in Odessa, TX

Winwood Town Center is situated on 40.43 acres
at 3801-3915 East 42nd Street at the epicenter
of one of Odessa’s busiest intersections,
42nd Street and Grandview Avenue,
exposing the center to more than
65,000 vehicles per day.

Chris Gerard

DALLAS, TX – JLL Capital Markets announced it has closed the sale of and arranged acquisition financing for Winwood Town Center, a fully leased 365,559-square-foot regional shopping center anchored by Target and H-E-B in the west Texas community of Odessa, Texas.

JLL orchestrated this off-market opportunity on behalf of the seller, Brixmor Property Group. Fidelis Realty Partners LLC acquired the asset.

Additionally, working on behalf of the new owner, JLL arranged the 10-year acquisition loan with Frost Bank.

Ryan Shore

Completed between 1987 and 2002, Winwood Town Center is home to a mix of national tenants, including a rare Target lease, H-E-B, Ross Dress for Less, dd’s Discounts, Office Depot and Michaels.

Additionally, the asset includes ground leases to Chick-fil-A, Taco Bell, BBVA and Jack in the Box.

Winwood Town Center is situated on 40.43 acres at 3801-3915 East 42nd St. at the epicenter of one of Odessa’s busiest intersections, 42nd Street and Grandview Avenue, exposing the center to more than 65,000 vehicles per day.

Barry Brown

Odessa is in Texas’ Permian Basin and part of the Midland-Odessa MSA, one of the fastest-growing regions in the United States over the past five years with more than 33 percent population growth.

The center draws from an expanded trade area that includes more than 158,000 residents.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard, Ryan Shore and Barry Brown.

The JLL Capital Markets Debt Placement team included Senior Managing Directors Colby Mueck and Ryan West and Senior Director Clint Coe.

Colby Mueck

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 advisory, debt placement, equity placement or a recapitalization.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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