Thursday, December 01, 2016

One of Denton's Biggest Shopping Centers Changes Hands

A Houston investor has purchased one of the largest shopping centers in Denton.
Fidelis Realty Partners said Tuesday that it has purchased Rayzor Ranch Marketplace, at Interstate 35 and U.S. Highway 380 in Denton.
Some of the tenants in the 641,0000-square-foot regional retail center include Academy Sports + Outdoors, Ross Dress for Less, Petco, Jo-Ann Fabric and Crafts, Boot Barn and Guitar Center. The acquisition also included approximately 18 acres of development land.
"There were many attractive attributes to this property including the high population growth and household formation in the Denton area," Fidelis Principal Rick Coe said in a statement. "The quality of the tenants in the center was also a deciding factor in our acquisition."
The Denton purchase is the fifth property acquired by Fidelis Realty Partners since 2014.
The company now owns 1.3 million square feet in the Dallas-Fort Worth area. Its North Texas properties include Eldorado Marketplace in Frisco, Market East Shopping Center in Mesquite and Collin Creek Shopping Center in Plano.
Written by Steve Brown