JLL Capital Markets led the marketing efforts for the sale of the 206,284-square-foot, value-add Northcross Shopping Center in Victoria, Texas
JLL Capital Markets announced today that it has closed the sale of the 206,284-square-foot, value-add Northcross Shopping Center located within a prime retail corridor in Victoria, Texas.
JLL marketed the property for a Dallas-based client and sold it to Dunhill Partners.
The 91-percent-occupied Northcross Shopping Center is currently leased to Ashley Furniture, Office Depot, Tuesday Morning, Dollar General, Dollar Tree and more. Additionally, the center has presented strong leasing momentum with Ace Hardware, Pittsburgh Paint, Beauty Bar, Any Lab Test Now and Rock Discount Vitamins.
Dunhill’s Chairman and CEO, Bill Hutchinson, who led the acquisition team, said, “The acquisition of Northcross Shopping Center provides an excellent addition to our expanding portfolio of high quality, strategically located retail centers.”
Located at 5016 – 5319 N. Navarro St., Northcross Shopping Center sits at the intersection of U.S 77 and Sam Houston Drive and is positioned between the power markets of Houston and Corpus Christi. The center is visible to approximately 40,573 vehicles per day and is situated in a super-regional trade area reaching a customer base from the surrounding 50 miles. The property benefits from Victoria County’s population of approximately 92,084 and average household income of $83,767.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Adam Howells, Managing Director George Cushing and Analysts Matthew Barge and Cole Sutter.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
About Dunhill Partners
Dunhill Partners is one of the largest privately held commercial real estate investment companies in the U.S. consummating over $5 billion in acquisitions, including the acclaimed Dallas Design District which sold earlier this year.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
