Grocery-anchored retail center sells in growing Dallas suburb

DALLAS, March 10, 2021 – JLL Capital Markets announced today that it has closed the sale of Heath Town Center, a new, 77,699-square-foot neighborhood shopping center anchored by a top-performing Tom Thumb in the Dallas-Fort Worth area community of Heath, Texas.

JLL marketed the property on behalf of the seller, Malouf Interests, Inc. Younger Partners Investments acquired the asset.

Heath Town Center was completed in 2019 and caters to the surrounding growing and affluent customer base in Heath, an eastern suburb that ranks as the seventh most affluential neighborhood in all DFW. The population of Heath has grown 40 percent since 2010 and is primed for additional growth with new development. Situated on nearly 10 acres at Laurence Road and FM 49, the center is also in an area with significant barriers to entry and benefits from lack of competition, as the closest grocery competition nearly four miles north of the property. In addition to its Tom Thumb grocery anchor, the 98-percent-leased Heath Town Center is also home to diverse lineup of national and local service, shipping and restaurant tenants.

The JLL Capital Markets team that represented the seller was led by Senior Managing Directors Adam Howells and Barry Brown and Analysts Zach Riebe and Erin Lazarus.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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