Recent Retail Sales in Dallas
Real Estate market of Dallas has shown some remarkable changes in recent months. In November 2012, 105 retail properties were sold in the complete market, a three times larger value when compared to the previous year.
Houston, Texas (I-Newswire) January 11, 2013 - Real Estate market of Dallas has shown some remarkable changes in recent months. In November 2012, 105 retail properties were sold in the complete market, a three times larger value when compared to the previous year. 680,220 square feet were sold, a significant increase of 2.3% over November 2011. Some of the significant sales include:
In the month of November 2012, WFC Beach Western Commons LLC, an entity of Westwood Financial Corporation has purchased Beach Western Commons, an 88,000 square-foot neighborhood center located at 4551 Western Center Boulevard in Fort Worth, Tarrant County, from Beach Western Commons LP, an entity of CNA Enterprises Inc. The 17-year-old center was fully occupied at the time of sale. The multi-tenant center is located along the intersection of North Beach Street and Western Center Boulevard. The center has access to both North Beach Street and Western Center Boulevard. The rent type is triple net. Built in 1996 and the center is situated on 11.16 acres. The contiguous space available is 3,874 square feet. According to County Appraisal District the total assessed value of the center is $8.7 million.
Another significant sale from that month is the sale of Former Albertson’s. Jumpstreet have purchased Former Albertson’s, a 63,000 square-foot single-tenant building located at 2031 West McDermott Drive in Allen, Collin County, from Abs TX Investor LP. The 14-year-old retail building was vacant at the time of sale. Situated on 6.02 acres the building is located at the southeast corner of West McDermott Drive and South Custer Road. The building has access to both West McDermott Drive and South Custer Road. The contiguous space available is 62,862 and the rent type is triple net. The building is anchored by Albertsons Inc and Redbox Automated Retail LLC. According to County Appraisal District the total assessed value of the center is $2.9 million. John Zikos, Christopher Gibbons, Amy Pjetrovic-Hunnicut and Chris Booras of Venture Commercial represented the seller. Mike Quinlan and Frederick Ross of Newmark Knight Frank represented the buyer in the transaction.
Yet another remarkable sale from the month of October is the sale of 2905 Travis St. Midtown Redevelopment Authority has purchased 2905 Travis St, an 11,000 square-foot strip center located at 2905 Travis Street in the Inner Loop sector, from 2905 Interests Ltd, an entity of Greenberg & Company. The 13-year-old center is 86% occupied with average rents at $2.00 per square foot. The multi tenant property was built in 1999 and is situated on 0.70 acres. The major tenants at the retail center include Jada Clubs LLC, Linh The Bui and Midtown Country Ventures LLN.
The Market Research and Consulting division of O’Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Dallas Retail Space Leasing Houston office space leasing, Dallas industrial leasing, Houston industrial space leasing, Houston apartments, Dallas apartments, Dallas Retail Space For Sale Austin apartments, and San Antonio apartments. Real estate decision makers need timely market data to make informed decisions. It provides insights regarding construction, proposed projects, absorption, and occupancy and rental rate trends. O’Connor and Associates has been providing real estate data since 1988. Both internal and external clients regularly use our real estate market research.
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Published On:January 11, 2013
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