PREP Property Group Buys Dallas-Area Retail Center
- Oct 03, 2019
PREP Property Group Inc. has acquired Hillside Village, a 611,232-square-foot regional shopping center in Cedar Hill, Texas. A partnership between Trademark and Prudential Financial redeveloped the asset in 2014. This May, Trademark was also selected to transform Memorial City Mall, a 1.7 million-square-foot mixed-use development in Houston.
Located at 305 West FM 1382 along Route 67, Hillside Village is 16 miles southeast from downtown Dallas, in Cedar Hill’s retail epicenter. According to Roy Williams, CEO of PREP Property Group Inc., the asset includes an interactive fountain, kids’ play area, village green and electronic vehicle charging station. The shopping center is anchored by Dick’s Sporting Goods, Dillard’s, Barnes & Noble, with the tenant roster also including Old Navy, ULTA, H&M, Champ’s, Victoria’s Secret and Express.
Williams added that the Dallas/Fort Worth metro attracts more than 40 million visitors annually. Hillside Village caters to roughly 138,000 residents within a 5-mile radius, with a median household income of $67,000, according to Yardi Matrix data.