Jones Lang LaSalle Incorporated : Dallas-area power and lifestyle center sells

DALLAS, July 5, 2022 - JLL Capital Markets announced today it has closed the sale of Glade Parks Town Center, a 559,457-square-foot, best-in-class destination retail power center with a lifestyle component in the Dallas-area community of Euless, Texas.

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.

"We are excited to continue our expansion into Texas with our first acquisition in the Dallas area, Glade Parks," said Jeffrey Rosenberg, President and CEO of Big V Property Group. "The Dallas metroplex is a dynamic growing marketplace, and this is the first of several acquisitions planned in this exciting market."

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 Blvd. along Highway 121, one of the largest east-west thoroughfares in the Dallas-Fort Worth area. This highly visible location exposes the property to more than 120,000 vehicles per day, and this location provides accessibility to a daytime population of nearly 1 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.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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