JLL Capital Markets closed the sale of the 213,416-square-foot The Shops at Chisholm Trail Ranch in Fort Worth, Texas
News release
30 November 2022
West Fort Worth retail center trades to Mazaheri Properties
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DALLAS, Nov. 30, 2022 – JLL Capital Markets announced today that it has closed the sale of The Shops at Chisholm Trail Ranch, a 213,416-square foot retail center in Fort Worth, Texas.
JLL marketed the property on behalf of the seller, Street Level Investments, and Mazaheri Properties acquired the asset. Phillip Mazaheri with Price Edwards & Company represented the buyer.
The Shops at Chisholm Trail Ranch is a 97.5-percent-occupied, newly constructed center currently leased to a wide range of tenants, including Studio Movie Grill, Ulta, Old Navy, Ross, Marshalls, Tuesday Morning, Five Below, Famous Footwear, Pet Supplies Plus, James Avery and Crumbl. The center benefits from 1.7 million visits annually with customers visiting an average of six times per year.
Situated at SEC Chisholm Trail Parkway and McPherson Boulevard, the property is part of Chisholm Trail Ranch, a 600-acre master-planned community located in Southwest Fort Worth. The center is 13 miles from downtown Fort Worth, 9.4 miles from Texas Christian University and 3.1 miles from Tarleton State University. Additionally, almost 500,000 residents are within a five-mile radius of the center and earn an average income of almost $90,000. The immediate trade area has grown substantially with the opening of the Chisholm Trail Parkway toll road, and buying power is expected to increase 19% over the next 5 years.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Chris Gerard and Barry Brown and Analyst Matthew Barge.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Street Level Investments
StreetLevel Investments provides sophisticated investment perspective through its principals’ combined more than 90 years of industry experience, extensive retail and capital relationships, market expertise and its affiliation with the EDGE Realty Partners platform. The firm’s mission is to develop and acquire exceptional quality properties that benefit communities and its retail partners. Entrepreneurial dealmakers, developers, operators, and investors in real estate; StreetLevel Investments has a reputation for integrity, transparency, creativity and success.
About Mazaheri Properties
Mazaheri Properties is a leading retail real estate company focused on the acquisition, development, leasing and management of real estate with an emphasis on neighborhood and community shopping centers and medical buildings in Oklahoma.