JLL Capital Markets arranged the sale of Shops at Stone Creek, a grocery-anchored retail center in Rockwall, Texas, one of the nation’s fastest-growing counties.
JLL represented the seller, Crestview Real Estate, LLC, which was partnered with a long-term family office. Crestview developed the shopping center ground up in 2009 and provided management and leasing of the asset for over 15 years. The Principals with Crestview that were involved were Staci Bowen, Tim Thompson and Dalton Stogner. The buyer was Westwood Financial.
The Shops at Stone Creek is strategically positioned at 3066 N Goliad St at the intersection of N Goliad St and Farm to Market Rd 552, providing excellent visibility and access in Rockwall’s affluent north corridor. This prime location serves a trade area with an average household income of $154,663 and benefits from the area’s exceptional 52% population growth since 2010.
The 80,599-square-foot retail center is 100% leased and anchored by a 59,313-square-foot Tom Thumb grocery store, representing 73.6% of the property. The property features a diverse tenant mix, including national and regional retailers such as Care Now, Great Clips, Subway and The UPS Store, along with five separate pad sites including Tom Thumb, the Tom Thumb fuel station, McDonald’s, Salad and Go and HTeaO.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Barry Brown and Adam Howells.
