MacArthur Park. Picture courtesy of CBRE Funding Administration
CBRE Funding Administration has bought MacArthur Park, a 425,612-square-foot grocery-anchored retail heart in Irving, Texas. CBRE acquired the asset on behalf of a shopper by a three way partnership with EDENS.
Accomplished in 1999, the neighborhood heart encompasses six buildings on a 47.6-acre website and options electrical car charging stations and roughly 1,640 parking areas.
Anchored by Goal, Kroger, Workplace Depot, TJ Maxx, Michaels, Ross and Ulta, MacArthur Park has a various mixture of lessees, together with medical workplace and restaurant tenants and grocery, magnificence and trend retailers. Different tenants on the property embody Sephora, Victoria’s Secret, Tub & Physique Works, GameStop, Edohana Sushi, House Items, Hallmark and Las Colinas Pressing Care.
The purchasing heart is positioned within the Las Colinas submarket at 7505 N. MacArthur Blvd. The property is close to the intersection of Interstate 635 and the George Bush Turnpike, which give easy accessibility to the Dallas-Fort Price metropolitan space. In response to EDENS, the retail heart serves a inhabitants of 214,115 inside a five-mile radius, with a mean family revenue of $106,236.
EDENS has not too long ago secured a $90 million, fixed-rate mortgage for 2 Class A retail properties totaling 394,108 sq. ft in Boston’s northern suburbs. Final December, the corporate bought three grocery-anchored purchasing facilities totaling over 400,000 sq. ft for a complete of $136.8 million.
