Leon Capital Offloads DFW Retail Asset
- Apr 05, 2018
Leon Capital Group has sold the newly opened Shops at MacArthur Hills, a 75,387-square-foot retail asset in the Dallas area, to Clarion Partners. The buyer acquired the property in the all-cash transaction. An HFF team led by Ryan Shore, Barry Brown and Jim Batjer represented Leon Capital in the sale.
Located at 6731-6761 and 6911 N. MacArthur Blvd. in the planned community of Las Colinas in Irving, Texas, the property’s three buildings sit on 7.6 acres alongside the President George Bush Turnpike, less than 20 miles from downtown Dallas. Exposed to traffic of an estimated 165,000 vehicles per day, the shopping center is across the street from the Medical City Las Colinas hospital and adjacent to Microsoft’s Irving campus.
The Shops at MacArthur Hills opened its doors in 2016. Leon Capital financed the development of the property with $26.3 million in construction financing held by Regions Bank, according to public records. The Whole Foods Market-anchored shopping center is 100 percent leased to a variety of regional and national tenants, including Fidelity Investments, Sleep Number, Sprint and Modern Market.
Image courtesy of HFF