JLL Capital Markets has announced that it has closed the sale of Heath Town Center, a new, 77,699-square-foot neighborhood shopping center anchored by a grocer Tom Thumb in the Dallas-Fort Worth area community of Heath, Texas.
JLL marketed the property on behalf of the seller, Malouf Interests, Inc. Younger Partners Investments acquired the asset.
Heath Town Center was completed in 2019 and caters to the surrounding growing and affluent customer base in Heath, an eastern suburb that ranks as the seventh most affluential neighborhood in all DFW.
Situated on nearly 10 acres at Laurence Road and FM 49, the center is also in an area with significant barriers to entry and benefits from lack of competition, as the closest grocery competition nearly four miles north of the property. In addition to its Tom Thumb grocery anchor, the 98-percent-leased Heath Town Center is also home to diverse lineup of national and local service, shipping and restaurant tenants.
The JLL Capital Markets team that represented the seller was led by Senior Managing Directors Adam Howells and Barry Brown and Analysts Zach Riebe and Erin Lazarus.