JLL Capital Markets today announced that it had closed the sale Twin Creeks Marketplace. This 43,134-square foot, grocery-anchored retail centre is located in the Dallas suburb, Allen, Texas. JLL represented the seller and an undisclosed investor purchased the asset.
Twin Creeks Marketplace, 100% occupied, was built in 2016. It is anchored by a Sprouts which occupies 69% of the total area and has a 265,400 annual visitor count. Other notable tenants include Verizon, Advancial, ATI Physical Therapy, and Starbucks.
Twin Creeks Marketplace is located at 1259-1271 West Exchange Pkwy. It is less than three minutes from U.S.75, one of the most important north-south thoroughfares, and is close to the Sam Rayburn Tollway. The center serves the Allen area’s affluent population with an average household income $163,230. The immediate area includes 1,400,000 square feet in Class A office space, 12,290 multi-housing units and 1,600 hotel keys. There are also 15 schools. Within five miles, there is a 327,000-person population.
Senior Managing Directors Chris Gerard and Adam Howells led the JLL Retail Capital Markets Investment Sales and Advisory Team that represented the seller. Senior Director Caroline Binning was also involved as well as Analysts Pauli Kerr and Cole Sutter.