DALLAS, Aug. 24, 2023 -JLL Capital Markets announced today that it has closed the sale of Rockwall Market Center, a 211,971-square-foot retail center located in the DFW suburb of Rockwall, Texas.
JLL marketed the property and assisted in the sale to Dunhill Partners, led by its CEO Bill Hutchinson.
Built in 1999, Rockwall Market Center is 100% leased to a robust, high-performing, national tenant roster, which includes Ross, Burkes Outlet, Michaels, Old Navy and Petco. The property features an average tenant tenure of 18.2 years, and 82% of the property's income stream is generated from its national tenancy. The property draws over 1.5 million annual visitors.
Located at 2663-2885 Market Center Dr. within a dominant retail corridor, the property sits directly off of Interstate 30, offering visibility to over 103,000 vehicles per day. Rockwall Market Center benefits from proximity to both Lake Ray Hubbard and Highland Meadows neighborhood and is less than a 20-minute drive to downtown Dallas. Additionally, within a 10-mile radius is a daytime population of 317,271 and $17 billion in consumer spending power.
The JLL Retail Capital Markets team was led by Senior Managing Directors Adam Howells and Ryan Shore and Analyst Megan Babovec.
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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Inc. published this content on 24 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2023 20:23:27 UTC.
