CBRE Completes Sale of 11-Property Retail Portfolio
- Dec 15, 2015
By Ioana Neamt, Associate Editor
DALLAS—CBRE Capital Markets’ National Retail Investment Group has recently completed the sale of a 756,865-square-foot retail portfolio in the Dallas-Fort Worth Metroplex. The 11-asset portfolio was acquired by an affiliate of Pine Tree Commercial Realty, at an undisclosed price, from an anonymous seller.
“Grocery-anchored retail centers remain the product of choice for most investors,” Chris Gerard, senior vice president at CBRE, said in prepared remarks. “The centers are located in some of the best suburbs in the Metroplex with stellar demographics—the average household income across the portfolio is $104,000 and the average population is 94,000—which will support steady occupancy over the long-term.”
The portfolio boasts 97 percent occupancy and includes the following assets:
- Heritage Heights in Colleyville;
- Park West Plaza in Southlake;
- Flower Mound Crossing, The Highlands in Flower Mound;
- Cross Timbers Court in Lewisville;
- Josey Oaks Crossing in Carrolton;
- Hunter’s Glen Crossing, Suncreek Village and 14th Street Market in Plano;
- Shiloh Square in Garland;
- Pioneer Plaza in Mesquite.
Each retail center is anchored by a Tom Thumb traditional grocery store.