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TRC Blog

March 22 , 2012

Town Centre Plaza Acquired by TRC & NADG

Town Centre Plaza Acquired by TRC & NADG

March 22nd, 2012
 
The Retail Connection L.P., and North American Development Group have purchased Towne Centre Plaza, a 94,109 square foot property located one block off I-635 on North Mesquite Drive across from Town East Mall. The shopping center was built in 2002 on 8.838 acres and features Bed Bath & Beyond and Best Buy as tenants.The Retail Connection is currently in negotiations for the 23,000 square foot vacancy in the center with a national tenant, which, when leased will bring the center back to 100% occupancy.
 
The property was designed to exceed ‘Class A’ standards and sits on a highly trafficked corner in the town East Mall retail area.
 
“We are excited to have purchased this well-located center in collaboration with North American Development Group, in an area of DFW that is going through a strong revitalization”, said Steve Hefner, President of Connected Acquisitions for The Retail Connection.“With this acquisition, The Retail Connection has acquired over 750,000 square feet of retail real estate in just the past twelve months.”
 
“North American Development Group is continuing to seek out opportunistic properties that build upon our strong presence in markets such as this corridor of the DFW metroplex,” said Stephen Preston, Managing Director of NADG.“We are pleased to complete another project with The Retail Connection.” Immediate tenants in the 1-mile trade area are Home Depot, Ross, Pier One, Old Navy, PetSmart, Michael’s and Garden Ridge.
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