/cloudfront-us-east-1.images.arcpublishing.com/dmn/OOOY6YCMSJBKHEDBNU7VP5UFCQ.jpg?w=1068&resize=1068,0&ssl=1 "Arlington’s Cooper Street Plaza shopping center sells to Dallas investor")
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An Arlington shopping center is the newest belongings bought via a Dallas actual property investor.
The Cooper Street Plaza, a 91,856-square-foot retail center within the Interstate 20 hall, bought to Vista Property Co. The center is greater than 97% leased to tenants together with Okay&G Mens Co., Office Max, Black Rifle Coffee, UPS, State Farm Insurance and Ninja Sushi.
CBRE Group brokered the sale.
“Despite the fluctuating market conditions, our team was able to generate multiple offers from across the country in the first few weeks after it went to market,” CBRE’s Michale Austry stated in a remark. “Since we had multiple competitive offers, we were able to increase the purchase price as well as reduced the buyer’s due diligence and closing timeline allowing the entire sales process to be completed in less than three months.
“This is the type of property that investors are looking for right now with strong real estate fundamentals and priced below current construction costs.”
Austry and CBRE’s Jared Aubrey advertised the Arlington belongings to consumers.
Buyer Vista Property owns and operates dozens of retail homes in primary markets in Texas and Oklahoma. The corporate’s holdings in Dallas-Fort Worth come with Vista Ridge Village in Lewisville and the South Frisco and Frisco Lakes shopping facilities in Frisco.
Sales of shopping facilities have risen this 12 months whilst purchases of different business homes have slowed. During the primary part of 2023, greater than $940 million in D-FW space shopping facilities modified fingers.
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