Friday, February 06, 2015

Illinois investor buys Flower Mound retail property

Highlands Plaza II

An Illinois-based real estate investor has bought Highlands Plaza II, a retail shopping center near The Shops at Highland Village in Flower Mound for an undisclosed sum.

The Flower Mound shopping center is located within 3 million square feet of retail space within a 1-mile radius.

The Highlands Plaza II property is in a shopping district in Flower Mound with more than 3 million square feet of retail space within a 1-mile radius of the retail center.

Tommy Tucker with SHOP Companies Investment Sales represented the property seller, an undisclosed Dallas-based limited partnership. The Illinois buyer declined to disclose their company name.

Dallas-Fort Worth's retail property has a market-wide vacancy rate of 7.6 percent, according to the latest CBRE research. That's one reason why developers currently have nearly 3.5 million square feet of property underway to meet demand.


The Flower Mound shopping center is located within 3 million square feet of retail space within a 1-mile radius.