DALLAS-JAH Realty LP has acquired Spring Creek Village, a130,874-square-foot shopping center in an off-market transactionfrom local owner First Continental Enterprises. The purchase pricewas not disclosed.

|

Located at the northwest corner of Belt Line and Coit Roads,Spring Creek Village was 76% occupied at the time of closing,according to Graham Irvine, director of acquisitions for JAHRealty, an Oklahoma City, OK-based owner with an office in Dallas.Notable tenants include: KFC/Taco Bell, Black-Eyed Pea,7-Eleven/Shell, CitiBank, Monarch Dental, Pizza Hut, Polly Dupont,Jewelry Limited and Curves.

|

“Coit and Belt Line is an excellent high-traffic intersection inNorth Dallas,” Irvine says, adding that Coit Road carries 66,806vehicles per day and Belt Line carries 35,283 vehicles per day. Healso notes that the area will continue to be a place where familieswant to live, work and shop.

|

Irvine tells GlobeSt. that Spring Creek Village offered an“excellent” value-add opportunity. “Rarely do you have theopportunity to purchase a 15 acre in-fill site with all outparcelsincluded,” he notes, adding that the space can reconfigured basedon demand.

|

Originally developed by Lindsay Embrey and Fred Toan in phasesstarting in 1962 under an entity known as First ContinentalEnterprises, Spring Creek Village has historically maintained highoccupancy, Irvine points out. JAH Realty plans to renovate theproperty in order to improve the appearance, leasing and sales.

|

“Renovations will include significant cosmetic upgrades to thefa

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.