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.