Southwest Retail Portfolio trades hands across Texas and Arkansas

DALLAS, Aug. 4, 2025 – JLL Capital Markets announced today that it has secured the successful sale of the Southwest Retail Portfolio, a 514,983-square-foot retail portfolio spanning Texas and Arkansas.

JLL worked on behalf of the seller, Ball Ventures. The buyer was Chase Properties.

The Southwest Retail Portfolio comprises four retail properties strategically located across Texas and Arkansas: Killeen Marketplace in Killeen, Texas; Southloop Crossing in Lufkin, Texas; Southcenter Shopping Center in Hot Springs, Arkansas; and Massard Crossing in Fort Smith, Arkansas. The portfolio boasts a 97% occupancy rate with average tenant tenure exceeding 17.9 years.

The properties feature national tenants including Kroger, Ross Dress For Less, Best Buy, Hobby Lobby, Michaels and Old Navy. About 91% of the portfolio's income comes from national and credit tenants, providing stable cash flow.

Each center benefits from visibility and accessibility with locations along major thoroughfares, including I-14, Hwy-287, Hwy-7 and Hwy-22. The assets feature highway frontage and are positioned within established retail corridors in their markets.

"We are thrilled to incorporate these four well-positioned community shopping centers into the Chase Properties portfolio," said Andy Kline, Co-CEO of Chase Properties. "This acquisition represents our first retail assets in Texas and Arkansas. While we have previously invested in multifamily properties in Texas, this marks a significant expansion of our retail presence in both states. The addition of these retail shopping centers in secondary and tertiary markets aligns perfectly with our long-term retail investment strategy."

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Adam Howells and Barry Brown and Director Erin Lazarus, with help from the broker of record, Vice President Deborah Johnson.

"The Southwest Retail Portfolio represents an exceptional opportunity in today's market, offering geographic diversity across multiple high-performing locations with excellent tenant retention," said Howells. "With average in-place anchor rents 20% below market, these assets provide substantial upside potential alongside stable cash flow from established national retailers."

"This transaction demonstrates the continued strong investor demand for well-positioned retail centers with diverse tenant mixes across secondary markets in the Southwest," Brown added. "Each property benefits from strong demographics, limited new retail supply, and strategic positioning within their respective trade areas."

This successful transaction also reflects Ball Ventures’ strategic efforts to redeploy capital into projects closer to home. Over the past several years, the Ball Ventures team has focused on identifying high-potential opportunities in its home region, including Idaho and the broader Mountain West. The sale of the Southwest Retail Portfolio supports this ongoing strategy of reinvestment into markets where Ball Ventures maintains strong community ties and local expertise.

"We are proud of the performance of this portfolio and the value it delivered to our partners and tenants," said Tahri Molifua, President of Real Estate at Ball Ventures. "I'm especially proud of our team’s hard work and dedication in successfully closing this transaction. We’re also grateful to the JLL team for their exceptional knowledge and expertise in navigating a high volume of offers and helping us see this transaction through to a successful close."

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.

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Founded in 2002, Ball Ventures is a privately held investment company with a concentration in real estate development and diversified asset holdings including private company principal investing, private equity fund investments, hospitality, automotive, healthcare, and energy. Ball Ventures has a team of approximately 60 talented employees responsible for projects in more than a dozen states.

Chase Properties is a family owned, operated, and oriented privately held company located in the heart of Washington, DC. Founded in 1998, Chase Properties has become known for its ability to acquire and maximize the value in underperforming properties, transforming regular homes into dream homes.