Acadia Realty Trust Acquires Dallas Retail Portfolio

DALLAS, TX – Acadia Realty Trust has acquired a 15-property retail portfolio, totaling 124,000 square feet, in Dallas, TX. The firm acquired the collection of properties from CIM Group and Open Realty Advisors.

Spanning one mile along Henderson Ave., the properties comprise single-story, standalone buildings, as well as more than 160,000 square feet of development potential across 4.3 acres of land.

CIM Group and Open Realty Advisors initially acquired the retail properties in 2012, and the partnership has since added a mix of retail tenants to the area, including Warby Parker, Bonobos, Tecovas, the Black Tux, Knot Standard, CorePower Yoga, Heyday Skincare, Salon 5014, and restaurants such as Gemma, Sfuzzi, the Skellig, High Fives, Shell Shack, the Porch and Tei Tei Robata Bar.

The Henderson Ave. district currently serves as a pedestrian-friendly destination that is anchored by Sprouts Farmers Market. The area features an array of retailers, alongside local restaurants and nightlife options.

Situated between the North Central Expressway and Ross Ave. the Henderson Ave. retail portfolio is located near the Highland Park, University Park, Uptown and Lakewood communities

“Henderson Ave. represents the type of community-focused street retail corridor that CIM Group believes is a vital contributor to enhancing neighborhoods in a way that serves residents and visitors,” states Shaul Kuba, CIM Group co-founder and principal.

“We are very proud of what we accomplished with CIM Group,” says Mark Masinter, Open Realty Advisors’ co-founder and managing member. “Together, we elevated the dining and shopping experience on Henderson Ave. by instituting a cohesive plan for this collection of distinctive properties.”

Recently, Open Realty Advisors and a CIM-managed fund also sold a nearby mixed-use property. The four-story, 84,360-square-foot office and retail asset, Knox Park Village, is located adjacent to Henderson Ave. at 3001-3003 Knox St.