News release

Growing Dallas-area population fuels retail sale

JLL Capital Markets closed the sale of the Shops at Prosper Trail shopping center in an affluent, high-growth Texas location 

January 20, 2022

Kimberly Steele

Capital Markets, Agency Leasing and Valuation Advisory PR
+1 713 852 3420

DALLAS, Jan. 20, 2022 – JLL Capital Markets announced today that it has closed the sale of The Shops at Prosper Trail, an 85,948-square-foot shopping center shadow anchored by a top-performing Kroger in the growing Dallas-area community of Prosper, Texas.

JLL marketed the property on behalf of the seller, MQ Development Company. Younger Partners Investments acquired the asset.  

Constructed in 2016, the 98-percent-leased The Shops at Prosper Trail is anchored by a Kroger Marketplace and features a dynamic roster of nation and local tenants that include Anytime Fitness, Wingstop, Ebby Halliday Properties, Republic Title of Texas, Baylor Scott & White Rehab, Pacific Dental Services, Club Pilates, Hollywood Feed, Palm Beach Tan, Eddie Napoli, Eye Gallery, Supercuts and Peach Wave Yogurt. Additionally, the center includes three ground leases.

The Shops at Prosper Trail is at 1145-1160 N. Preston Rd along the iconic Preston Road corridor in Prosper, which is a north Dallas community directly in the growth path within the Dallas-Fort Worth metroplex. The property is surrounded by an affluent and growing population that includes 41,603 residents earning an average annual household income of $181,387 living within a three-mile radius of the property. This represents a 252 percent population increase during the last decade. Additionally, the center is proximate to large employment drivers, the Dallas North Tollway and within high-performing retail submarket.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Director Adam Howells and Analyst Zach Riebe.

According to JLL, “DFW is the fastest-growing metro area in the country, and the city of Prosper is in the bull’s eye, creating unprecedented investor demand.”

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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About MQ Development Company

MQ Development Company specializes in the acquisition and development of retail shopping centers and retail anchored, mixed use projects in select markets in Texas and Florida. The MQ group of companies was established by Donald Silverman in 1991.

About Younger Partners

Younger Partners is a full-service boutique commercial real estate firm providing investment, leasing, and management services to investors and tenants in the Dallas/Fort Worth region. Younger Partners also specializes in the acquisition and disposition of land, multifamily, office, industrial and retail properties.