Successful transaction of prominent retail center along Belt Line Road in DFW
JLL Capital Markets facilitates sale of Quorum II Plaza in Dallas’ Platinum Corridor in Addison
DALLAS, Jan. 17, 2025 – JLL Capital Markets announced today that it has arranged the sale of Quorum II Plaza, a 77,319-square-foot shopping center in Addison, part of the Dallas Fort Worth area, in Texas.
JLL represented the seller, Westwood Financial Corporation. The buyer was Last Mile Investments.
Quorum II Plaza, strategically located along Belt Line Rd., benefits from a dynamic consumer base that consistently drives sales. Its proximity to the Dallas North Tollway and I-635 ensures easy accessibility, enhancing its appeal to both visitors and residents. Situated in the heart of Addison, the center enjoys a thriving community that further fuels its commercial environment.
Dallas stands out as a prime destination for real estate and business, ranking as the #3 real estate market and the #1 metropolitan statistical area for projected population growth. With a robust daytime population of 529,000 people within five miles of Quorum II Plaza, the area exudes economic potential. The combination of a low cost of doing business and a high average household income of $121,000 makes Dallas an ideal environment for entrepreneurship and investment.
Quorum II Plaza, built in 1981 and situated on 5.7 acres, boasts a 93% occupancy rate, underscoring its popularity and commercial success. Key tenants, including Verizon, Salata, Tasty Tails and Improv, alongside popular establishments like Sellinger's Powergolf, Tiff’s Treats and Jimmy John's, create a diverse tenant mix that attracts a wide array of visitors.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Adam Howells, Barry Brown and Chris Gerard and Director Erin Lazarus.
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
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Westwood Financial Corporation
Westwood Financial is a leading real estate investment platform recognized for its extensive collection of 72 shopping centers strategically located across the U.S. sunbelt states. Founded in 1970 by Steven Fogel and Howard Banchik, the company boasts nearly 55 years of experience investing in and operating primarily grocery-anchored and service-oriented shopping centers. Guided by its executive management team, founders and three independent directors, Westwood Financial continues to providing investors with stable, income-generating real estate opportunities and outsized investment returns.
About Last Mile Investments
Last Mile Investments (LMI) is the preeminent retail operator and investment manager focused on the multi-tenant, “last mile retail” sector across the U.S., a sector that is defined by the most convenient, highly trafficked and in-demand locations within highly desirable suburbs across the United States.
This asset class is often misunderstood and mismanaged and hence overlooked, but in reality, these centers are the backbones of the areas they serve given their prominent locations, with broad and increasing demand from daily and essential service (hair, dental, urgent care and vision, among others) and food uses.
As a leadership team boasting more than five decades of experience in every aspect of retail investing, operations, and value creation, including senior roles at several of the largest retail real estate platforms in the United States, the company has dedicated their platform to the Last Mile retail sector given the quality of real estate and secular tailwinds. This commitment is a direct result of their focus on producing the highest risk-adjusted returns, throughout cycles on behalf of their Investor base.
The “Last Mile” is where people will not only live, but work, eat and demand their essential services to be.