FORT WORTH—Built in 2005 adjacent to Hulen Mall, 5000 South Hulen is an 86,943-square-foot open-air community shopping center in west Fort Worth. With an average daily traffic count of 42,200, the property sits in one of Fort Worth's sought-after retail trade corridors.
A joint venture between Trademark Property Company and ALTO Real Estate Funds recently acquired 5000 South Hulen for an undisclosed price. The retail destination is 95% occupied by a mix of national and regional retailers, including anchors Barnes & Noble and Old Navy, as well as a number of community service retailers such as Potbelly Sandwich, Jamba Juice, Sprint, America's Best Contacts & Eyeglasses and Ideal Image.
“5000 South Hulen is an ideal fit within our acquisition strategy,” said Tommy Miller, CIO, Trademark Property Company. “It is a best-in-class property, with a strong tenant mix, located within one of the most established and recognized retail nodes in Fort Worth. After all, it's all about location, location, location.”
The acquisition of 5000 South Hulen is the first joint venture between ALTO Fund III and Trademark Property Company. Both Trademark and ALTO are discriminating buyers of community and power centers at strong locations with high-performing tenants that do not require grocery anchors.
“5000 South Hulen is one of the top properties in Southwest Fort Worth at a very strong intersection,” Miller tells GlobeSt.com. “This is great long-term cash-flowing real estate that fits our community center investment strategy perfectly.”
Trademark Property Company is an operator, investor and developer of mixed-use town centers, specialty, community, power centers and enclosed regional malls. In its 25-plus years of business, Fort Worth-based Trademark has invested in or developed more than 11.8 million square feet of retail and mixed-use assets worth more than $2.5 billion. Trademark's team of 120 employees is responsible for approximately 6.5 million square feet of projects currently in operation or development/redevelopment, including Alliance Town Center (Fort Worth), Burr Ridge Village Center (Chicago), Glades Plaza (Boca Raton, FL), Hillside Village (Cedar Hill, TX), La Palmera (Corpus Christi, TX), Market Street Flowood (Flowood, MS), Market Street–The Woodlands (The Woodlands, TX), First Street Napa (Napa, CA), Perkins Rowe (Baton Rouge, LA), Rice Village (Houston), Saddle Creek (Germantown, TN), Victory Park (Dallas), Watters Creek (Allen, TX), Waterside (Fort Worth) and WestBend (Fort Worth), in addition to 5000 South Hulen.
ALTO Real Estate Funds is a series of closed-end investment funds specializing in value-add commercial real estate across the US. Established in 2010, ALTO is managed from New York City with regional offices in Dallas and Tel Aviv. To date, ALTO has invested in 58 properties, with a value of approximately $1.1 billion, representing approximately 11 million square feet.
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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.
