Dallas-based Foundry Commercial teamed up with equity partner Stockbridge Capital Group out of San Francisco to acquire Northview Plaza, a 116,099-square-foot, grocery-anchored shopping center located in northeast Dallas.
The center was constructed in 1984 on an urban infill location roughly two miles west of I-635 at 10675-10677 E. Northwest Hwy. in the Northeast Dallas Retail corridor.
Currently 86% leased, the community shopping center is anchored by a 59,000-square-foot Kroger and also houses locations for Petco, Jazzercise, Allstate and Great Clips, among others.
Jimmy Grisham, managing director and principal of development and investment at Foundry Commercial, noted the firm plans to work with Kroger to reposition Northview Plaza and upgrade the tenant base. The improvements will include renovations to lighting and landscaping, as well as new awnings.
For more information on the transaction, please see CoStar COMP #3962269.