DALLAS, Jan. 7, 2026 –  JLL Capital Markets announced today that it has secured the sale of Northpark Village & Commerce Square, two premier grocery-anchored shopping centers totaling 220,938 square feet in Texas.

JLL represented the seller, Phillips Edison & Co. The buyer was Dunhill Partners.

The portfolio consists of Northpark Village, a 70,479-square-foot shopping center in Lubbock, and Commerce Square, a 150,459-square-foot retail center in Brownwood. Both properties are 100% occupied and anchored by leading grocery retailers with strong market positions.

Northpark Village is strategically located at 401-405 Slide Rd. in Lubbock, just one mile from Texas Tech University's campus with more than 40,700 students. The property is anchored by United Supermarkets, part of the Albertsons Family of Companies, which generates average sales exceeding $519 per square foot and ranks in the 78th percentile for visits within United Supermarkets' portfolio. The center features a weighted average lease tenure of 29.2 years and minimal rollover exposure of less than 11% within the first three years.

Commerce Square is positioned at 509 West Commerce St. in Brownwood along the city's primary retail corridor with exposure to more than 24,600 vehicles daily. The center features national tenants including TJ Maxx, Aldi, Boot Barn and Harbor Freight. Current in-place rents sit 32% below market value, providing substantial upside opportunity with a projected 5.74% seven-year compound annual growth rate. The property also offers two future pad development opportunities totaling approximately 1.5 acres.

JLL Capital Market’s Investment Sales and Advisory team was led by Senior Managing Directors Chris Gerard and Adam Howells.

"This portfolio represented an exceptional opportunity to acquire two high-quality grocery-anchored assets in strong Texas markets," said Gerard. "Both properties benefit from dominant grocery anchors, stable cash flows and compelling growth prospects that made them attractive to institutional capital."

"The combination of Northpark Village's proximity to Texas Tech University and Commerce Square's below-market rents and development upside created a unique value proposition for Dunhill Partners," added Howells. "These assets demonstrate the continued investor appetite for well-located grocery-anchored retail in secondary Texas markets."

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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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 $23.4 billion and operations in over 80 countries around the world, our more than 113,000 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 WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Phillips Edison & Company is a fully integrated real estate investment company that has specialized in grocery-anchored shopping centers since 1991. Led by a veteran management team, the company operates a national portfolio of retail properties through corporate offices in Cincinnati, Park City and Atlanta. Phillips Edison's in-house platform provides comprehensive retail services including acquisition, redevelopment, leasing and management designed to optimize property value and deliver exceptional shopping experiences.

Dunhill Partners, Inc. is a Dallas-based real estate investment, development, and management company specializing in the acquisition and operation of retail shopping centers across Texas and select U.S. markets. With a focus on grocery-anchored and necessity-based retail, Dunhill targets well-located assets with strong fundamentals, durable cash flow, and long-term value creation potential. The firm is committed to disciplined underwriting, hands-on asset management, and investing in properties that serve as vital hubs for the communities in which they operate.