DALLAS-JAH Realty LP has acquired Spring Creek Village, a 130,874-square-foot shopping center in an off-market transaction from local owner First Continental Enterprises. The purchase price was not disclosed.
Located at the northwest corner of Belt Line and Coit Roads, Spring Creek Village was 76% occupied at the time of closing, according to Graham Irvine, director of acquisitions for JAH Realty, an Oklahoma City, OK-based owner with an office in Dallas. Notable tenants include: KFC/Taco Bell, Black-Eyed Pea, 7-Eleven/Shell, CitiBank, Monarch Dental, Pizza Hut, Polly Dupont, Jewelry Limited and Curves.
“Coit and Belt Line is an excellent high-traffic intersection in North Dallas,” Irvine says, adding that Coit Road carries 66,806 vehicles per day and Belt Line carries 35,283 vehicles per day. He also notes that the area will continue to be a place where families want to live, work and shop.
Irvine tells GlobeSt. that Spring Creek Village offered an “excellent” value-add opportunity. “Rarely do you have the opportunity to purchase a 15 acre in-fill site with all outparcels included,” he notes, adding that the space can reconfigured based on demand.
Originally developed by Lindsay Embrey and Fred Toan in phases starting in 1962 under an entity known as First Continental Enterprises, Spring Creek Village has historically maintained high occupancy, Irvine points out. JAH Realty plans to renovate the property in order to improve the appearance, leasing and sales.
“Renovations will include significant cosmetic upgrades to the fa
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