Another big shopping center in Dallas is getting a lot of attention.
Jones Lang LaSalle was hired to market a large store on Park Lane to buyers. The brokerage's marketing materials say the retail center is in the “top 6% of U.S. shopping centers.”
Located across the North Central Expressway from NorthPark Center, The Shops at Park Lane has approximately 665,000 square feet of space. This popular retailer includes tenants such as Whole Foods, Nordstrom Rack, Bloomingdale's Outlet, HomeGoods, Old Ney, and Saks Off Fifth.
Built in 2009, The Shops at Park Lane has been owned by Northwood Retail since 2010. The retail center is nearly 90% leased.
Dallas apartment developer Streetlights Residential is working on plans for a 20-story residential tower on vacant land adjacent to the retail center.
The Shops at Park Lane is one of three large commercial properties in North Texas currently on the market.
The 150-acre Village at Allen Shopping Center on Route 75 is for sale. This corner retail venue includes more than 850,000 square feet of retail and restaurant space.
In Southlake, the 185,000-square-foot Park Village Shopping Center is being marketed by CBRE Group.
So far this year, more than $1.3 billion has changed hands at D-FW shopping centers.
