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.

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% 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 Road 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% 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.

CBRE National Partners announced the sale of DalParc Logistics Center, a brand new, 1,008,140-square-foot industrial distribution center located at 3199 Telephone Road in Dallas. Property Reserve, Inc. purchased the facility from VanTrust Real Estate for an undisclosed price.

Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.

Delivered in 2021, the property is located conveniently at the corner of North Dallas Avenue and Telephone Road in the highly coveted South Dallas submarket. There are eight entrance and exit points from the building, giving it excellent access to several major transportation arteries that connect the Dallas-Fort Worth metroplex. The property is 100% located to a single tenant, providing a stable cash flow over a long-term lease.

The spike in demand for distribution and logistics space that accelerated during the pandemic has shown no signs of slowing down. According to CBRE’s Q2 2022 Dallas Fort-Worth Industrial MarketView, the North Texas industrial market has an overall vacancy rate of 5.1%. In South Dallas, there is a 7.4% vacancy rate as developers have delivered 7.8 million square feet of industrial product in 2022 with over 17 million square feet of product under construction.

Tri Global Energy LLC renewed 16,012 SF at 17300 N Dallas Parkway in Dallas, Texas. Caleb Ninemire Richard Maloof represented the landlord, Hartman Income REIT.

ABB Realty LLC expanded to 3,250 SF at 100 South Central Expressway in Richardson, Texas. Wil Logan represented the landlord, Hartman Income REIT.

State of Texas Acting by and Through the Texas Facilities Commission renewed 14,096 square feet at 1055 S. Sherman Street in Richardson, TX. Lynna Smith represented the landlord, Hartman Income REIT.

JLL Capital Markets announced today it has closed the sale of Glade Parks Town Center, a 559,457-square-foot destination retail power center with a lifestyle component in the Dallas-area community of Euless.

JLL marketed the property on behalf of the seller, a joint venture between Iron Point and North Rock. Big V Property Group acquired the asset, making it their fourth retail center in Texas and the first in Dallas.

Glade Parks Town Center is home to a diverse roster of nationally recognized retail and restaurant tenants, including Dick’s Sporting Goods, Total Wine & More, Cinepolis, Ulta Beauty, Belk, Michael’s, HomeGoods, EOS Fitness, First Watch, Hopdoddy, Daiso, Old Navy, Burlington, DSW, Massage Envy and more. Completed between 2014 and 2018, the center boasts a three-story parking garage and is shadow anchored by Target and an Aloft Hotel.

Spanning 53.52 acres, Glade Parks Town Center is at 2701 Rio Grande Boulevard along Highway 121, one of the largest east-west thoroughfares in the Dallas-Fort Worth area. This location exposes the property to more than 120,000 vehicles per day, and this location provides accessibility to a daytime population of nearly one million people. The center is adjacent to Colleyville, Grapevine and Southlake, some of DFW’s “super zips,” which are neighborhoods featuring exceptionally high household incomes and collect educated residents. Nearly 312,700 residents earning an average annual household income of $105,344 live within a 15-minute drive.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Director and Co-Head of JLL Retail Capital Markets Barry Brown, Senior Managing Directors Chris Gerard and Ryan Shore and Analysts Greyson Fewin and Matthew Barge.