JLL Capital Markets 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.
