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MANSFIELD, TX-A Dallas developer has retired construction financing with a loan of slightly more than $3 million from JPMorgan Mortgage Capital. Standing as collateral is the one-year-old, fully leased, 18,890-sf Mansfield Matlock Retail Center.

WindStar Development secured a sub-6% fixed-rate loan with a 10-year term from the New York City-based conduit lender for shadow retail space in a center with a 65,000-sf, corporate-owned Kroger store as the anchor. “It should do well for a long time,” managing director Joseph N. Hevey Jr. with Holliday Fenoglio Fowler LP’s Dallas office tells of the development at the northwest corner of Debi Lane and Matlock Road. Mansfield Matlock Center’s tenant roster also includes Starbucks, Park Cleaners, Fantastic Sam’s, Hallmark, KO Wings, Nail Concept, Postal Connection, Trio Pizza, Verizon and a doctor’s office.

Mansfield is one of, if not the, fastest growing community south of Fort Worth as residential rooftops, mostly single-family, come out of the ground at middle-income prices in a four-year building boom that set off a charge by national and local retailers looking for footing in a Wal-Mart Supercenter-fueled trade area with easy interstate access.

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