Growing Texas investment firm triples its portfolio with three-center buy
Younger Partners Investments (YPI), a six-year-old retail real estate developer, grew its portfolio by more than a third with a three-center buy in North Fort Worth.
The Fort Worth-based company acquired three contiguous centers totaling 375,000 square feet at the intersection of I-35W and North Tarrant Parkway: Presidio Towne Crossing, Tehama Towne Crossing, and Vista Ridge.
All 100% leased, the combine now known as Presidio Junction is stocked with high-impact brands such as TJ Maxx, HomeGoods, Aldi, Petco, Old Navy, Sephora, and Five Below.
The property also holds nine ground leases held by Whataburger, Chick-fil-A, Uncle Julio’s, Jack in the Box, and Chuck E. Cheese.
“This is a tremendous boost to our Texas portfolio, which has grown to almost 1.4 million square feet of retail,” said Younger’s managing director Micah Ashford. “This acquisition strengthens our presence in Tarrant County and marks our continued expansion into Fort Worth, where we also own Artisan Circle in the Cultural District.”
Adding to the retail growth in the area is the neighboring North City development, a $1.3 billion mixed-use project with residential and retail builds underway.
Retail spaces in the area total occupancy rates of 97%, North Fort Worth submarket, where median home prices average more than $400,000, driven by new subdivisions, quality schools, and strong commuter access.
“These types of grocery-anchored and shadow-anchored open-air centers present Texas-sized opportunities,” Ashford said. "We plan to continue expanding our retail portfolio with similar acquisitions as investor demand for assets such as Presidio Junction remains strong.”
YPI reports that it will begin updating Presidio Junction this year with wayfinding improvements and additional signage.Younger Partners Property Services manage the properties.
The Dallas-based YPI was formed in 2020 to acquire retail investment properties across Texas, focusing on neighborhood grocery-anchored centers and lifestyle shopping centers.
