Sandstone Capital Sells Fort Worth Retail Asset
- Mar 26, 2020
Fossil Creek Plaza, a 68,500-square-foot retail property in Fort Worth, Texas, has changed hands. STRIVE Associate Sam House procured the buyer, a Dallas-based investor, and also assisted the seller. According to public records, Sandstone Capital is the former owner of the asset, having purchased it in 2008 from Dunhill Partners.
Spanning across roughly 5 acres at 4352 Western Center Blvd., the shopping center opened its doors in 1990. Approximately 80 percent of the tenants have been at the property for more than five years and the remaining 20 percent have been at the location for more than 15 years. Fossil Creek Plaza is home to Family Dollar and Cato Fashions, among others.
Situated at the intersection between Western Center Boulevard and North Beach Street, the center is roughly 1.5 miles from Interstate 35W and 9 miles from downtown Fort Worth. Other companies in the same retail corridor include Walgreens, Kroger, Home Depot and CVS Pharmacy.
Earlier in March, New Midway Peaks—the retail division of Preferred Apartment Communities—acquired Midway Market, a Kroger-anchored, 85,599-square-foot retail property in Dallas. The acquisition marked the 54th grocery-anchored retail center in the new owner’s Sunbelt and Mid-Atlantic portfolio.