Dallas — Florida-based Foundry Commercial and its capital partner, San Francisco-based Stockbridge, have acquired Northview Plaza, a 116,099-square-foot retail center located at 19674 E. Northwest Highway in Dallas.
The Kroger-anchored property was 86 percent leased at the time of sale to tenants including Petco, Allstate Insurance, T-Mobile, Go 4 It Sports Grill, Great Clips McDonald’s and White Rock Chiropractic. The purchase raises the volume of Foundry’s Dallas acquisitions over the past 18 months to approximately $160 million.
Aaron Johnson, Ryan Shore, Jim Batjer and Barry Brown of HFF marketed the property on behalf of the seller, California-based MDT Properties. Additionally, Jim Curtin of HFF worked on behalf of the new owners to place a floating-rate loan with First Midwest Bank. Loan proceeds will be used to fund the acquisition and capital improvements at the property.