Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-An investment group led by neighborhood shopping center owner and developer Jim Ryffel have closed on two quick deals to expand their retail portfolio.

The group, which invests in small retail plazas, has purchased the 59,933 sf Alta Mesa Village Shopping Center at the southwest corner of Alta Mesa Blvd and McCart Street that is home to a Radio Shack and several retail beauty outlets. The shopping center is also adjacent to a Sack N Save grocery store.

“Alta Mesa Village fit the profile of a Jim Ryffel owned center. It is an attractive, clean, well-maintained facility with a low vacancy rate, good access to I-20 and a high traffic count,” Karen Simon, senior vice president and managing director of the Fort Worth office of the Bradford Companies told GlobeSt.com. “It’s the type of center that will do reasonably well regardless of the economy because the rents are reasonable and the tenants are in many ways indigenous of the neighborhood.”

Simon brokered the Alta Mesa Village deal for both the investment group and the seller, Alta Mesa McCart Plaza Ltd. Partnership.

In a separate transaction, the Ryffel investors also picked up 3.979 acres of undeveloped land at the northwest corner of Rufe Snow Drive and Harrison Way in Watauga. The group plans to develop that property into a neighborhood shopping center. Simon was also the broker on that deal.

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

Once you are an ALM digital member, you’ll receive:

  • 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

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.