CBRE arranges sale of Expo Center, a 28,119-square-foot shopping center in Rowlett

CBRE announced the sale of Expo Center, a 28,119-square-foot shopping center in Rowlett, Texas. The property is located at 3801 Lakeview Parkway and sits on 3.35 acres. A local Dallas private investment group purchased the property from Standridge Companies.

Jared Aubrey and Michael Austry represented the seller in the marketing and sale of the property.

Located along Lakeview Parkway just one mile east of Lake Ray Hubbard, the center is 100% leased to nine retail tenants, including Fresenius Medical Care, Golden Pot Chinese and Opa! Greek Taverna. The property gardened significant investor interest due to its replaceable in-place rents and limited competition as this is one of the few properties in the surrounding area that has full-service restaurant options.

Suburban DFW retail center trades to Phillips Edison

JLL Capital Markets has closed the sale of Lake Pointe Market, a 40,589-square-foot retail center located in the DFW suburb of Rowlett, Texas.

JLL represented the seller, Main Street Investment Company, and procured the buyer, Phillips Edison.

Lake Pointe Market benefits from its shadow anchor, Tom Thumb, which serves as the top performing location in the region. The center is currently 97% leased to a diverse tenant mix, including PetCo, DCP Equity Partners, Burger Island, OneMain Financial, Bank of America, Verizon and SuperCuts, bringing in approximately 740,000 annual visits.

Situated at 6702 Dalrock Road, the property is located at a premier intersection in Rowlett and is positioned directly between I-30 and President George Bush Turnpike. Within a three-mile radius of the property is an average household income of $125,096 and $2.1 billion in spending power, and within a five-mile radius is a population of approximately 134,836 and approximately 20 schools. Additionally, Lake Pointe Market is just 22 miles from Downtown Dallas.

The JLL Retail Capital Markets team was led by Senior Managing Directors Adam Howells and Chris Gerard and Analyst Megan Babovec.