News release

Recapitalization secured for dual grocery-anchored retail center within DFW metroplex

JLL Capital Markets arranged the recapitalization of the 425,612-square-foot, well-located MacArthur Park in Irving, Texas

August 10, 2023

Jenna Sharp

Capital Markets PR
+1 214 438 6450

DALLAS, Aug. 10, 2023 – JLL Capital Markets announced today that it has arranged the recapitalization of MacArthur Park, a 425,612-square-foot, top-performing retail center located within the DFW metroplex in Irving, Texas. The center is a hybrid, dual grocery-anchored power center with Kroger, Target (Shadow) and other large format retailers, such as Ross, HomeGoods/TJ Maxx and Michaels.

JLL worked on behalf of the ownership which consisted of funds managed by Goldman Sachs Asset Management, and EDENS, to recapitalize the project. CBRE Investment Management stepped up as a new investor in the venture.

In addition to Kroger and Target (shadow), the 98-percent-leased MacArthur Park is also anchored by HomeGoods / TJ Maxx, Ross, Michaels and Office Depot. Other notable tenants include Bath and Body Works, Victoria’s Secret, T-Mobile, Amy’s Hallmark, James Avery, Mattress Firm, Half Price Books, Ulta Beauty, Jason’s Deli and Sephora. Over 88% of MacArthur Park’s income stream is generated from national and institutional-grade credit tenancy, with local businesses comprising of the remaining 12% of overall revenue. The center boasts an average tenant tenure of 6.2 years, a WALT of 3.3 years and over 5.8 million visits annually, ranking it amongst the top 3% of centers in the U.S.

The center is located 7505 N. MacArthur Blvd. and is strategically set within Irving’s high-growth, master-planned urban center, Las Colinas. It is positioned at the intersection of Interstate 635 and President George Bush Turnpike, offering visibility to over 260,000 vehicles per day and over $5.8 billion in consumer spending power within a 10-minute drive. Within a five-mile radius is a daytime population of 348,062 and an average household income of $106,828. MacArthur Park is easily accessible by President George Bush Turnpike, Interstate 635 and Texas State Highway 114, and it is just a 17-minute drive to downtown Dallas.

The JLL Retail Capital Markets Debt Advisory team was led by Senior Managing Director Barry Brown and Chris Gerard, Director Erin Lazarus and Analysts Megan Babovec and Cole Sutter.

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 and sales 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

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit