For more retail coverage, clickGlobeSt.com/RETAIL.
DALLAS-The locally based Shafer Property Co., armed with a near$13.8-million construction loan, is ready to break ground on a35,000-sf retail plaza in Uptown, a 2.9-acre tract that once heldthe Red Cross' headquarters building. The project, tentativelycalled Uptown Plaza, is 40% pre-leased.
Still to be decided, though, is whether about one acre will betraded to the Hotel ZaZa's owners so they can build a condo tower."I can see the rationale in keeping it (the acreage) whole," saysBrad Donnell, senior director for Dallas-based Metropolitan CapitalAdvisors Ltd. Ground is due to break any day, he adds.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
