JLL Capital Markets Brokers Dallas Retail Center Sale
- Feb 14, 2020
BIG Shopping Center USA has sold Shops at Vineyard Village, a 219,379-square-foot retail property in Euless, Texas. A private investor purchased the asset, with JLL Capital Markets representing the seller.
As part of the transaction, the new owner assumed the outstanding balance of a $28 million loan, originated by Allianz Life Insurance in 2016, according to public records. The asset last traded in 2010, when BIG Shopping Center USA acquired it from Burk Collins Co.
Completed in 2006, the property is located at 2750-3020 State Highway 121, on 26.7 acres. At the time of sale, the retail center was 98.2 percent leased to tenants including Bed Bath & Beyond, Marshalls, Ross Dress for Less and Staples. Shops at Vineyard Village is shadow-anchored by Lowe’s and LA Fitness.
Situated halfway between Dallas and Fort Worth, at the intersection of State Highway 121 and Glade Road, the property is 6.5 miles from Dallas/Fort Worth International Airport. The shopping center is located just on the border of the Colleyville and Southlake communities, where annual household incomes exceed $210,000, according to JLL.
The JLL team that negotiated the deal included Senior Managing Directors Chris Gerard, Barry Brown and Ryan Shore, Director Aaron Johnson and Analysts Austin Ross and Ben Siegel. Last year, the senior managing directors brokered the sale of 422,000 square feet of retail and office space within Victory Park in Dallas.