Georgetown Company acquires Whole Foods-anchored Fort Worth property
The Georgetown Company has expanded its portfolio with the acquisition of a retail center in Texas.
The New York City-based real estate developer and investor has purchased Waterside, a 12.6-acre grocery-anchored retail center in southwest Fort Worth, from Trademark Property Company for an undisclosed amount.
Waterside features 157,000 sq. ft. of retail space and is currently 98% leased. The center is anchored by the only Whole Foods location in a 20-mile radius, and other retail tenants include REI, Tricky Fish, and First Watch. The retail center sits within the broader 62-acre Waterside community developed by Trademark, which features more than 550 integrated multifamily rental homes, a Residence Inn, townhomes and office space.
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“This acquisition is an exciting opportunity to continue expanding our grocery-anchored retail platform and we look forward to being a part of the vibrant Southwestern Fort Worth community,” said Georgetown Company managing principal Jonathan Schmerin. “We also want to commend Trademark for their outstanding work in developing this high-quality property and in fostering the growth of the surrounding community.”
The acquisition of Waterside adds to Georgetown’s grocery-anchored retail portfolio, which now exceeds $275 million in assets across six locations in four states. Georgetown notably led the development of Easton Town Center in Columbus, Ohio, which features 12 million sq. ft., including retail, hotels, housing, and more.
JLL Capital Market’s investment and sales advisory team representing Trademark in the transaction was led by senior managing directors Chris Gerard and Barry Brown, director Erin Lazarus and analyst Andrew Griffin.
"Our team has successfully closed on one of the most attractive Whole Foods-anchored shopping center transactions in the Fort Worth market," said Brown. "Demand continues to rise for these opportunities as capital seeks well-performing grocery-anchored retail in thriving submarkets."
