The Arlington shopping center is the latest property purchased by a Dallas real estate investor.
Cooper Street Plaza, a 91,856-square-foot retail center on Interstate 20, has been sold to Vista Property Company. His more than 97% of this center is K&G Men's Company, Office Max, Black Rifle Coffee, UPS, State Farm Insurance and Ninja Sushi.
Read more for just $1
Get unlimited access to dallasnews.com for just $1 a month
Already a subscriber?
The Arlington shopping center is the latest property purchased by a Dallas real estate investor.
Cooper Street Plaza, a 91,856-square-foot retail center on Interstate 20, has been sold to Vista Property Company. His more than 97% of this center is K&G Men's Company, Office Max, Black Rifle Coffee, UPS, State Farm Insurance and Ninja Sushi.
CBRE Group brokered the sale.
“Despite fluctuating market conditions, our team was able to generate multiple offers from across the country in our first few weeks on the market,” CBRE's Michael Austley said in a statement. “As there were multiple competing offers, we were able to not only increase the purchase price but also shorten the buyer's due diligence and closing schedule, allowing him to complete the entire sales process in less than three months. .
“This is the type of property that investors are currently looking for, with strong real estate fundamentals and prices below current construction costs.”
Jared Aubrey of Austria and CBRE marketed the Arlington property to buyers.
Buyer Vista Property owns and operates dozens of commercial properties in major markets throughout Texas and Oklahoma. The company's properties in Dallas-Fort Worth include Vista Ridge Village in Lewisville, South Frisco in Frisco and Frisco Lakes Shopping Center.
Shopping center sales rose this year, but other commercial real estate purchases slowed. In the first half of 2023, more than $940 million in transactions took place in D-FW area shopping centers.
