Two Mesquite Retail Centers Trade for Combined $45M

Blueprint Investment Properties purchased the 100%-leased Broadmoor Plaza in Mesquite. About the same time, Newport Capital Partners purchased the Towne Crossing development.(shown). The Dallas Business Journal reports that David Disney of Disney Investment Group, who helped facilitate both deals, said both deals had a combined value of $45 million.

Broadmoor was sold by Dogwood Commercial. Towne Crossing was previously owned by Phillips Edison & Co., a publicly traded real estate investment trust that is one of the largest owners and operators of grocery-anchored shopping centers.

The 86,302-square-foot Broadmoor Plaza recently underwent a renovation and is anchored by a Dollar Tree, Five Below, Hibbet Sports and various other regional and national tenants.

Towne Crossing, a 167,957-square-foot development, is anchored by a Kroger and 92% leased. The shopping center features 31 tenants including Hertz, Citi Trends and other regional tenants.

In addition to Disney, Adam Crockett of Disney Investment Group represented the sellers in both deals.