Dallas-area power and lifestyle center sells
JLL Capital Markets completed the sale of Glade Parks Town Center in DFW to Big V Property Group
DALLAS, July 5, 2022 – JLL Capital Markets announced today it has closed the sale of Glade Parks Town Center, a 559,457-square-foot, best-in-class destination retail power center with a lifestyle component in the Dallas-area community of Euless, Texas.
JLL marketed the property on behalf of the seller, a joint venture between Iron Point and North Rock. Big V Property Group acquired the asset, making it their fourth retail center in Texas and the first in Dallas.
“We are excited to continue our expansion into Texas with our first acquisition in the Dallas area, Glade Parks,” said Jeffrey Rosenberg, President and CEO of Big V Property Group. “The Dallas metroplex is a dynamic growing marketplace, and this is the first of several acquisitions planned in this exciting market.”
Glade Parks Town Center is home to a diverse roster of nationally recognized retail and restaurant tenants, including Dick’s Sporting Goods, Total Wine & More, Cinepolis, Ulta Beauty, Belk, Michael’s, HomeGoods, EOS Fitness, First Watch, Hopdoddy, Daiso, Old Navy, Burlington, DSW, Massage Envy and more. Completed between 2014 and 2018, the center boasts a three-story parking garage and is shadow anchored by Target and an Aloft Hotel.
Spanning 53.52 acres, Glade Parks Town Center is at 2701 Rio Grande Blvd. along Highway 121, one of the largest east-west thoroughfares in the Dallas-Fort Worth area. This highly visible location exposes the property to more than 120,000 vehicles per day, and this location provides accessibility to a daytime population of nearly 1 million people. The center is adjacent to Colleyville, Grapevine and Southlake, some of DFW’s “super zips,” which are neighborhoods featuring exceptionally high household incomes and collect educated residents. Nearly 312,700 residents earning an average annual household income of $105,344 live within a 15-minute drive.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Director and Co-Head of JLL Retail Capital Markets Barry Brown, Senior Managing Directors Chris Gerard and Ryan Shore and Analysts Greyson Fewin and Matthew Barge.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Iron Point Partners
Since inception, Iron Point has raised over $8 billion in equity capital commitments. Iron Point pursues a thematic investment approach across numerous commercial real estate property types and specialty asset classes.
About Big V Property Group
Big V Property Group is a vertically integrated shopping center investment management and property management company, with comprehensive services including leasing, on-site property management, construction management, finance/accounting and marketing. Utilizing state of the art technical platforms, the company has an excellent track record of providing quality property management and construction management services for over 80 years. The management team prides themselves on their attention to detail and expertise in this space and on providing a best-in-class experience for their key constituencies: tenants, shopping center owners and shopping center customers. Big V Property Group owns and operates 54 neighborhood and community shopping centers totaling over 9 million square feet, primarily located in the southern region of the US, and has five offices with major offices in Charlotte, NC, San Antonio, TX, Bristol, TN and Florida, NY. For more information, visit www.bigv.com.