David de la Garza of Marcus & Millichap's Dallas office tells GlobeSt.com that the investor was the highest of several bidders jockeying for the 15-year-old Northstar Crossing, renovated just two years ago. Positioned at 1332 Beltline Rd., the center is in for some extra rehab, but just how much more is still being determined.

De la Garza represented Triple Net Properties, the owner since 2000. The buyer's broker was Bennett Litwin of the Litwin Co. in Dallas, who's also been hired as the leasing agent. The center is 88% leased, with a Gold's Gym filling 47% of the retail space. According to the Dallas Central Appraisal District, the holding sold for about $1 million more than its 2002 assessment.

De la Garza says the listing was on the market for about six months. The stickling point for a sale was the positioning of a United Artists theater at the epicenter of the property. The eight-screen theater is open and was not part of the sale. Still, it presented somewhat of an odd scenario when it came to striking a deal with a buyer for the 6.84-acre tract. The selling prospects also were unusual in that the property is anchored by a fitness operator instead of a more traditional tenant, de la Garza says.