The grocery-anchored Northview Plaza in Dallas. Picture courtesy of Westwood Monetary
Westwood Monetary has bought Northview Plaza, a 120,000-square-foot grocery-anchored retail middle in Dallas, in an off-market transaction. Stockbridge Capital Group was the vendor, based on CommercialEdge knowledge. On the time of the deal, the asset was 89 p.c occupied.
Stockbridge acquired the property again in 2017 for $17.3 million, the identical supply reveals. Final yr, the purchasing middle turned topic to an $11 million bridge mortgage originated by Outdated Nationwide Financial institution.
Accomplished in 1983, Northview Plaza encompasses three buildings on an 8.1-acre lot. Anchored by Kroger, the middle contains a numerous mixture of tenants, corresponding to medical, health, private companies and meals institutions. Different tenants on the property embrace Petco, McDonald’s, Nice Clips, T-Cellular, Finish Zone Bar + Grill, White Rock Chiropractic, Whole Males’s Major Care and Group Dental Companions.
Situated at 10677 E. Northwest Freeway within the Lake Highlands submarket, the property is strategically positioned close to Interstate 635 within the quickly creating L Streets neighborhood. The Dallas Arboretum and Botanical Backyard and a number of other residential communities are inside strolling distance of the neighborhood middle.
In a latest deal, Westwood offered Ahwatukee Mercado, a 125,716-square-foot, grocery-anchored retail middle in Phoenix, for $14 million.
