DALLAS— Growing population and healthy employment growth in the Dallas area continue to attract investors to retail assets.
Jet Set Commercial acquired Hebron Heights Market shopping center in Carrollton, Texas north of Dallas for an undisclosed price. The 10,000-square-foot center is located at the corner of Hebron Parkway and Old Denton Road within the North Central Dallas submarket.
In 2013, the North Central submarket absorbed more than any other Dallas submarket, with over 375,000 absorbed in the fourth quarter alone noted CBRE in a report.
CBRE's Private Capital Group in Dallas represented the seller, an affiliate of the Tabani Group.
"The interest in this property was immense from both in-state and out-of-state buyers due to both the location and the price point, which was below $5 million dollars," said Jennifer Pierson, a senior vice president with CBRE. "A lot of investors are able to transact in that price point. All parties were pleased with the outcome of this transaction."
Hebron Heights Market is 100% occupied by national and regional tenants including Dunkin Donuts/Baskin Robins, Bahama Bucks, Wing Town, Chiro One Wellness Center and Quiznos.
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