JLL Capital Markets has closed the sale of Marketplace at Highland Village, a 206,926-square-foot shopping center located within the Dallas-Fort Worth MSA in Highland Village, Texas.
JLL represented the seller in this transaction.
Constructed in 2006, the 93 percent-leased center boasts a dedicated base of nationally recognized tenants with an average tenant tenure of 13.6 years and a WALT of 3.5 years with tenants including T.J. Maxx/Home Goods, LA Fitness, DSW, Petco, Sola Salon Studio and more. The center draws 4.3 million visits annually.
Located at 3060 Justin Rd (FM 407), Marketplace at Highland Village sits at the intersection of Justin Road and Village Parkway in the sought-after and highly affluent suburb of Highland Village. Within a five-mile radius of the center is a population of approximately 178,365, boasting an average household income of $198,546 within a one-mile radius.
The center also benefits from its proximity to Highland Village’s neighboring suburbs of Flower Mound and Lewisville, which offer robust customer bases with high disposable incomes. Top demand drivers for the center also include DFW International Airport, Grapevine Lake, Lewisville Lake, Las Colinas Urban Center and Gaylord Texan Hotel, which are all within proximity of the center.
The JLL Retail Capital Markets team was led by Senior Managing Directors Chris Gerard and Barry Brown and Director Erin Lazarus.
