Mixed-use center trades in Dallas-Fort Worth community
JLL Capital Markets completed the sale of the retail and office property in Highland Village, Texas
DALLAS, July 19, 2022 – JLL Capital Markets announced today it has closed the sale of Bowery Park, a 65,477-square-foot premium suburban shopping center and office property in the high-growth Dallas community of Highland Village, Texas.
JLL marketed the property on behalf of the seller, Boulder Peak Capital, LLC. Kobalt Investment Company acquired the asset.
Completed in 2018, Bowery Park is 93.5 percent leased to a diverse roster of strong-performing retail and office tenants, including Massage Life Center, Baskin Robbins, Sip Stir Coffee House, Good Morning Donuts, Platinum Dermatology, Providence Title, Rhi and Co., Awesome Times, Preferred Pediatrics, CryoNation, Be Legend Gaming and Liquor Land.
Bowery Park spans 6.17 acres at 2570 Justin Rd. in Highland Village and is positioned within one of Dallas-Fort Worth’s most affluent suburban pockets that reports an average annual household income of $150,581 within a five-mile radius. This position is also within DFW’s path of growth; 531,765 residents live within a 10-mile radius, and that number has grown 32 percent since 2010. Additionally, the mixed-use center is within one mile of two elementary schools, Briarhill Middle School, and Flower Mound Marcus High School.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Adam Howells and Ryan Shore and Analyst Matthew Barge.
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 $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Boulder Peak Capital, LLC
Boulder Peak Capital (“BPC”) is a Dallas-Ft Worth-based real estate private equity investment firm founded in 2017. BPC combines institutional experience with hands-on local expertise to create strong investment opportunities for our investors. BPC has transacted on approximately $200 million of real estate assets since January 2021, while maintaining very strict investment criteria. For more information, visit bpccre.com or reach out to Investorrelations@bpccre.com.
About Kobalt Investment Company
Kobalt Investment Company is comprised of a team of industry leaders with more than 75 years of combined experience who have successfully closed transactions exceeding $5 billion, generating strong returns for its investors. Kobalt provides commercial real estate investment opportunities for institutional partners as well as high-net-worth clients, family offices and individuals.