JLL Capital Markets arranges joint-venture equity and loan for grocery-anchored shopping center in Richardson, Texas
News release
16 October 2024
JLL capitalizes Arapaho Village acquisition with joint-venture equity and senior financing
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DALLAS, Oct. 16, 2024 – JLL Capital Markets announced today that it has secured joint-venture equity and acquisition financing for Arapaho Village, a 101,507-square-foot grocery-anchored shopping center in Richardson, Texas.
JLL represented Weitzman and secured the equity commitment and separately arranged the six-year, fixed-rate acquisition loan with an insurance company.
Located at 801-819 W Arapaho Rd., Arapaho Village benefits from its strategic position at the signalized southwest corner of Arapaho Road and West Shore Drive. The property is situated in Richardson's thriving retail submarket, approximately one mile from SR-75 and three miles from I-635.
Built in 1990, Arapaho Village is 91.9% occupied. The center is anchored by Tom Thumb, which recently extended its lease through 2030 and invested significant capital in store improvements. Other notable tenants include WellMed Medical Management, Anytime Fitness, UPS, Painting with a Twist and H&R Block.
JLL Capital Market’s Advisory team was led by Managing Director Steve Heldenfels, Senior Managing Director Chris Gerard, Director Kristi Leonard, Associates Ryan Pollack and Keenan Ryan and Analyst Campbell Swango.
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 sales and 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.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. 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 WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Weitzman
Weitzman is Texas's premier retail-focused commercial real estate firm with offices across major cities in the state. The company offers comprehensive services including brokerage, property management and development along with detailed market reports that provide in-depth insights into the Texas retail real estate landscape.