The Albertsons site includes the 63,124-square-foot retail property located on 6.46 acres.
ARLINGTON, TX—Investor activity throughout the Dallas-Fort Worth metroplex continues to rise and the region's sustained growth, both in new jobs being delivered and new residents coming to North Texas, as well as the state's strong economic fundamentals, are major attractors for prospective investors. So says JLL vice president Caroline Binning, who provided sale and marketing efforts for a recent disposition of the Albertsons grocery store located at 6220 Highway 287 Frontage Rd.
The sale of the site includes the 63,124-square-foot retail property as well as the 6.46 acres on which it is situated. The price was undisclosed.
JLL Capital Markets managing director Matthew Berres and Binning led sale and marketing efforts on behalf of the seller.
“We are seeing strong interest from private investors seeking long-term leases and stable credit with solid unit level performance metrics. There is a premium associated with more infill, higher barrier to entry submarkets as seen with this Arlington location,” Berres tells GlobeSt.com. “We received several competitive bids from private capital and family office type buyers, a trend we expect will continue throughout 2019.”
The US Census divides the 13-county Dallas-Fort Worth-Arlington metropolitan area into two areas: Dallas-Plano-Irving and Fort Worth-Arlington, based on commuting patterns between counties. The border between the two runs between Wise/Denton, Tarrant/Dallas and Johnson/Ellis counties.
From 2018 to 2023, the Dallas-Fort Worth area is projected to grow from approximately 7.5 million to nearly 8.3 million residents, adding an additional 730,000 residents, based on ESRI projections and according to a report last year by JLL. Some 87% of that growth (630,000-plus people) will happen in the core four counties at the center of the metroplex: Collin, Dallas, Denton and Tarrant.
While the Fort Worth-Arlington side is expected to grow by 202,358, more than 80% of Fort Worth's growth will be in Tarrant County, home of Fort Worth proper. Of the growth on the Dallas side, Dallas County will only account for 27% of the growth. The majority of the Dallas growth will be in suburban Collin and Denton counties, according to JLL Research and ESRI.
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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.
