JLL Capital Markets arranged the sale of Independence Square, a 140,218-square-foot retail property in Plano, Texas.
JLL worked on behalf of the seller, Head Capital Partners. The buyer was a joint partnership between Fidelity and Lincoln.
Independence Square, located at 3100 Independence Pkwy., sits on a 13.37-acre site in the thriving Dallas-Plano area. The center, built in 1977 and renovated in 2005, features a diverse mix of tenants anchored by Tom Thumb, which has maintained a 46-year tenure at the location. The property boasts a strong 93% occupancy rate with a weighted average lease term of 4.6 years. Independence Square has also demonstrated strong leasing momentum with notable tenant upgrades since 2023.
The retail center benefits from its strategic location in a densely populated area with strong demographics. Within a 15-minute radius, the population is projected to reach 437,472 by 2029, with an average household income of $146,567 and an average home value of $553,764 in 2024.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Chris Gerard, Director Erin Lazarus and Senior Managing Directors Barry Brown and Adam Howells.
