JLL Capital Markets announced that it had closed the sale of McKinney Marketplace in the town of the same name north of Dallas—an area that has seen a significant uptick in business, according to the company, a global real estate services provider.
The 118,967-sq.-ft. retail center was built in 2000 and sits at the intersection of U.S. Highway 75 and Eldorado Parkway near a master-planned community in the town about 30 miles from Dallas. Dallas-Fort Worth expects to add close to half a million new residents in the next five years, according to JLL.
McKinney Marketplace is anchored by Kohl’s and also houses Dollar Tree, Cato and Wendy’s. The buyer, Tabani Group, has the opportunity to develop on a 5,000-sq.-ft. pad in front of Kohl’s.
The seller was an institutional investor, and the sale price was not announced.