JLL Capital Markets announced today that it has closed the sale of the 206,284-square-foot, value-add Northcross Shopping Center located within a prime retail corridor in Victoria, Texas.
JLL marketed the property for a Dallas-based client and sold it to Dunhill Partners.
The 91% occupied Northcross Shopping Center is currently leased to Ashley Furniture, Office Depot, Tuesday Morning, Dollar General, Dollar Tree and more. Additionally, the center has presented strong leasing momentum with Ace Hardware, Pittsburgh Paint, Beauty Bar, Any Lab Test Now and Rock Discount Vitamins.
Located at 5016–5319 N. Navarro St., Northcross Shopping Center sits at the intersection of U.S 77 and Sam Houston Drive and is positioned between the power markets of Houston and Corpus Christi. The center is visible to approximately 40,573 vehicles per day and is situated in a super-regional trade area reaching a customer base from the surrounding 50 miles. The property benefits from Victoria County’s population of approximately 92,084 and average household income of $83,767.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Adam Howells, Managing Director George Cushing and Analysts Matthew Barge and Cole Sutter.