DALLAS—With a growing population and resulting incomes in the surrounding area, well-located retail centers are an institutional buyer's dream purchase. With that type of center in mind times two, a couple of buyers recently purchased Dallas/Fort Worth-area shopping centers for a combined $24 million.
Disney Investment Group closed on Sprouts Village located at 4930 Teasley Ln., a new 46,380-square-foot shopping center anchored by Sprouts Farmers Market located in Denton. Sprouts Village is located at Hickory Creek Road and Teasley Lane, one of the fastest-growing Dallas suburbs. The shopping center sale includes two outparcels with one outparcel leased to Starbucks, with other tenants including T-Mobile, Pet Supermarket and Domino's Pizza, which is coming soon.
An affiliate of the Inland Real Estate Group of Companies Inc. acquired the center with Matthew Tice of Inland leading the acquisition process. David Disney and Adam Crockett of Disney brokered the sale and worked with DuWest Realty on the transaction.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
