DALLAS--HFF has closed the sale of Eldorado Market Place, a 162,331-square-foot grocery-anchored retail center in Frisco.
HFF marketed the property on behalf of the seller, WD Eldorado & Tollway LP, an affiliate of Plano-based Duggan Realty Advisors LLC and Waitt Investments. An affiliate of Fidelis Realty Partners Ltd. purchased the asset for an undisclosed amount free and clear of existing debt.
Located at the northwest corner of the Eldorado Parkway and the Dallas North Tollway, the property is approximately 30 miles from downtown Dallas. Built in 2008, the center is 99 percent leased to 35 tenants, including Market Street, PetSmart, Raising Cane's, RE/MAX, The UPS Store, Jersey Mike's, AT&T and Dynamic Fitness.
In addition, the sale included approximately 24 acres of land for future development.
The HFF investment sales team representing the seller was led by senior managing director Doug Hazelbaker and managing director Ryan Shore.
According to HFF, the center offered excellent value enhancement potential with the phase two land component, and this offering aligned with Fidelis' acquisition strategy.
HFF declined a request for additional comments.
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