JLL closes sale of DFW-area retail center
Shops at Vineyard Village is 100% leased to an internet-resistant tenant lineup
DALLAS, February 12, 2020 – JLL Capital Markets announced today that it has closed the sale of Shops at Vineyard Village, a 219,379-square-foot, core shopping center with an internet-resistant tenant lineup in one of Dallas-Fort Worth’s fastest-growing locations, Euless, Texas.
JLL marketed the property on behalf of the seller, BIG Shopping Centers USA, Inc. A private buyer purchased the asset.
Situated on 26.69 acres at 2750-3020 State Highway 121, of Shops at Vineyard Village is at the intersection of SH-121 and Glade Road, which sees an average of 150,000 vehicles per day. The center is in an area bordered by some of DFW’s wealthiest communities, such as Colleyville and Southlake, which have average annual household incomes greater than $210,000. The property is in a primary retail node for these surrounding communities; the next closest retail node is more than 16-minutes away. Anchored by diverse mix of national and regional tenancy, the 98.2-percent-leased Shops at Vineyard Village is home to Ross Dress for Less, Bed Bath & Beyond, Marshalls, Staples, PetSmart, Party City, Dollar Tree and Rally House. Additionally, the center is shadow anchored by Lowe’s Home Improvement and LA Fitness.
The JLL Capital Markets team was led by Senior Managing Directors Chris Gerard, Barry Brown and Ryan Shore; Director Aaron Johnson; and Analysts Austin Ross and Ben Siegel.
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 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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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
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 $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About BIG Shopping Centers USA, Inc.
BIG Shopping Centers USA, Inc. (BIG USA) is a subsidiary of the Israeli parent company BIG Shopping Centers, Ltd. (TASE: BIG) a real estate company publicly traded in the top TASE 125 Index at a market value over $1.6 billion. BIG USA is a full-scale retail shopping center company based in Phoenix, Arizona.
In Israel, BIG Shopping Centers, Ltd. is a fully integrated development, leasing, management, and marketing company known for its “gold standard”. This drive for excellence continues in the United States with a business model that varies from the Israeli parent company. BIG USA portfolio, consisting (after this sale) of 26 centers made up of over 7 million square feet, is approximately $1.7 billion in assets wholly owned or owned in JV partnerships (total share $1.1 billion). Its diverse portfolio offers multi-market opportunities for established and new-to-market tenants to implement their expansion plans.