JLL Capital Markets announced today that it has closed the sale of Twin Creeks Marketplace, a 43,134-square-foot, grocery-anchored retail center located in the Dallas suburb of Allen, Texas.
JLL represented the seller, and an undisclosed investor acquired the asset.
Built in 2016, the 100-percent-occupied Twin Creeks Marketplace is anchored by a Sprouts, which comprises 69% of the total rentable area and boasts an annual visitor count of 265,400. Additional notable tenants include Starbucks, Verizon, ATI Physical Therapy and Advancial.
Situated at 1259 – 1271 West Exchange Pkwy., Twin Creeks Marketplace is less than a three-minute drive from U.S. 75, one of the largest north-south thoroughfares in DFW, and is within proximity to the Sam Rayburn Tollway. The center caters to the surrounding affluent consumer base in Allen with an average household income of $163,230. The immediate area features 1,400,000 square feet of Class A office space, 12,290 Class A multi-housing units, 1,600 hotel keys and 15 schools. Additionally, within five miles of the property is a 327,000 population.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Chris Gerard and Adam Howells, Senior Director Caroline Binning and Analysts Pauli Kerr and Cole Sutter.