DALLAS-AREA Property Partners has joined POB Montgomery & Co. in the purchase of Sierra Vista Plaza, a 163,000-square-foot retail center here at the southwest corner of Westmoreland Road and Illinois Avenue. POB is the property manager of the site.

The center is a former Halliburton industrial factory that was turned around in 2006 by Direct Development, a retail company that includes former football great Troy Aikman as a principal. The buyers declined to reveal the sale price. Direct said previously in a statement that it built the property for about $18 million.

The property, in the Oak Cliff neighborhood 10 miles southwest of the Downtown, is anchored by a Fiesta grocery store and a Marshall’s. The center had opened with a Carnival Food Store as its anchor, but the 37-store Carnival chain was sold in 2008 by Minyard Food Stores to the Grocers Supply Co. Inc., owner of Fiesta Mart Inc. A spokesman says the property is 95% leased, with other tenants including Bank of America, Foot Locker, Payless, Game Stop and Applebee’s.

James Simmons, an AREA senior partner, said the Fiesta is the number one Hispanic grocery store in the Dallas market. “One one other center over 15,000 square feet has been developed within a one-mile radius to service the needs of the community,” he said in a statement.

Vista Property Co. will handle the leasing for the center. Doug Hazelbaker, Ryan Shore, Kelsey Roop and Austin Brooks with HFF represented the seller in the transaction.

NOT FOR REPRINT

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