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Jones Lang LaSalle (“JLL”) is pleased to exclusively present the rare opportunity to acquire Northview Plaza Shopping Center (the “Property”), a 94% leased, 115,347 square-foot Kroger-anchored grocery shopping center situated on the Northeast side of Dallas, Texas and within the affluent neighborhood of Lake Highlands.
Northview Plaza’s Kroger is the #1 most visited Kroger in Dallas proper; the grocer generated $45.5M in 2020 sales and is achieving a health ratio of 1.5%. With limited competing grocers in the area and high barriers to entry, Kroger is among the most established grocers in Northeast Dallas. The location is further validated by excellent nearby demographics and frontage on Lake Highland’s main thoroughfares, Plano Rd, and Northwest Highway. The Property also features an owned outparcel leased to McDonalds; the tenant has no remaining fixed rate options providing a future mark-to-market opportunity.
The Property’s irreplaceable location, demographics, Kroger offering, and mark-to-market opportunity coupled with Dallas’ explosive growth provide investors with a unique opportunity to invest in defensive grocer retail with attractive cash-on-cash yields at well below replacement cost.
- HIGH PERFORMING GROCER
- HIGHLY ACCESSIBLE LOCATION
- INFILL LOCATION
- COMPELLING YIELD STORY
- MARK-TO-MARKET OPPORTUNITY
- BOOMING DFW ECONOMIC FUNDAMENTALS