Dallas luxury shopping destination changes hands in major US-75 corridor deal

DALLAS, June 17, 2026 –  JLL Capital Markets announced today that it has secured the successful sale of The Hill, a premier neighborhood shopping center located at the dynamic intersection of US-75 and Walnut Hill in Dallas.

JLL represented the seller, Asana Partners. The buyer was Kobalt Investment Company.

The Hill is strategically positioned at 8041 Walnut Hill Ln. at one of Dallas' busiest retail corridors, with more than 300,000 vehicles passing daily. This irreplaceable infill location sits at the epicenter of some of Dallas' most affluent neighborhoods, including Preston Hollow, where average home values exceed $2.2 million. The center serves a three-mile radius with average household incomes of $142,223.

The neighborhood shopping center was originally built in 1979 and redeveloped in 2015-2016. The Hill spans 15.98 acres and comprises 200,849 square feet of retail space. The property features a curated mix of high-performing food and beverage concepts, experiential family-oriented retailers and service-oriented wellness tenants. Major tenants include local favorites and regional brands such as Doce Mesas, Bellagreen, Snooze, F45 and Shine Hot Pilates.

The Hill presented significant upside potential for the new owner, with immediate lease-up opportunities. The property benefits from adjacency to major medical employment nodes, including Texas Health Presbyterian Hospital Dallas. Additionally, a 387-unit multifamily development, Modera at The Hill, is currently under construction adjacent to the center and is expected to deliver its first units in 2027, creating a dynamic mixed-use environment and providing a built-in customer base.

"The property offers a clear value-creation path — immediate lease-up opportunity paired with 387 new residential units delivering next door at Modera. We intend to capitalize on that demand by curating a tenant mix that drives traffic, rent growth and long-term performance," said Justin Grissen, Co-Founding Partner of Kobalt Investment Company.

JLL Capital Market's Sales and Advisory team representing the seller was led by Senior Managing Directors Chris Gerard and Barry Brown and Director Erin Myer.

"The Hill represents exactly the kind of irreplaceable infill asset our platform is built to acquire. It anchors one of Dallas' most established, high-income trade areas, and its position on the US-75 corridor gives us durable fundamentals with select leasing upside. We're confident in the long-term value we can create here," commented Andy Crosland, Co-Founding Partner of Kobalt Investment Company.

"This was a well-run process from start to finish, and closing it reflects the strength of our capital relationships and the trust of our investor partners," said Ginnie McCorkle, Chief Financial Officer and Partner at Kobalt Investment Company. "The Hill is exactly the kind of asset we build our platform around."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Asana Partners is a retail real estate investment firm that creates value in vibrant neighborhoods by leveraging vertically integrated capabilities and retail expertise. The firm manages more than $8 billion in neighborhood assets across 25 metropolitan areas throughout the United States. Asana Partners operates offices in Charlotte, Atlanta, Boston, Columbia, Denver, Los Angeles and New York.

Founded in 2022 and headquartered in Dallas, Kobalt Investment Company acquires, leases and manages retail centers and single-tenant net-lease portfolios in high-growth urban and suburban markets, creating value through accretive leasing and strategic redevelopment. The firm pairs the fresh perspective of a modernized private real estate investment company with more than seven decades of combined retail experience, and offers investors a fully integrated platform spanning acquisitions, leasing, property management, accounting, asset management and construction management. Its team has closed more than $5 billion in transactions and today manages a growing portfolio across the southwestern United States.