Dallas-based Younger Partners Investments sold three restaurant land parcels at the Midlothian Towne Crossing shopping center in Midlothian, Texas, in the Dallas-Fort Worth market.
YPI acquired the 99%-leased retail center in December 2023.
The parcels sold include Chili’s Bar & Grill at 2250 FM 663, McDonald’s at Hwy 287 and FM 664, and Chick-fil-A at 2010 FM 663. CBRE’s Jared Aubrey and Michael Austry represented YPI in the sale to undisclosed buyers. The sale prices were not disclosed.
Midlothian Towne Crossing features 147,161 square feet of retail space on 34 acres at the southeast corner of the FM 633 and Highway 287 intersection in Midlothian, about 25 miles south of Dallas.
Built in 2019, Chili’s is located on a 1.69-acre pad site and has a 10-year lease. The restaurant features a dedicated curbside pick-up, ample parking and excellent ingress and egress along FM 663. The site pad that McDonald’s occupies also has a long-term lease. Built in 2022 on 1.07 acres, the corporate location includes a double drive-thru, abundant parking and excellent ingress/egress. Chick-fil-A was built in 2018 on a 1.73-acre pad site with a 20-year lease. The quick-service restaurant has two drive-thru lanes with indoor seating and ample parking. Chick-fil-A is the third largest fast-food restaurant chain in the U.S.
The Class-A power center, anchored by Kroger, is comprised of several national brand tenants including Ross, Burkes Outlet, Petco, Ulta Beauty and Famous Footwear serving as junior anchors. Additionally, there is a complementary 65,656 SF of shop space offering a mix of retail, service and restaurant tenants.
“Midlothian Towne Crossing is anchored by the 13th most visited Kroger in Texas, which shows the viability of the power center and these pad sites,” said Aubrey, senior vice president with CBRE’s Private Capital Investment group.
Midlothian Towne Crossing is surrounded by 9,938 planned or under-construction single-family homes and 513 planned or under-construction multifamily units within a five-mile radius of the property, according to Esri 2022.
