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FRISCO,TX-New York City-based TIAA-CREF has acquired thefive-year-old, 227,175-sf, 99%-leased South Frisco Village ShoppingCenter, considered a trophy regional retail asset, from HendryInvestments Inc. of San Antonio. Buyer and seller declined todisclose the acquisition price, but area brokers and marketers whohave closed deals in the North Dallas suburb tell GlobeSt.com theclosing price was probably in the $225-per-sf range. That wouldgive the deal an estimated value of $51.1 million.

CB Richard Ellis senior vice president Doug Hazelbaker says theproperty is located at "one of the most prolific retailintersections" in North Texas, with more than 52,000 vehiclespassing daily at the property site on the northeast corner ofPreston Road and State Highway 121. Frisco, 12 miles north ofDowntown Dallas and located in both Collin and Denton counties, hasan estimated population of 76,000.