The 113,742-square-foot Seville Commons sold to Phillips Edison Grocery Center REIT II, a Cincinnati-based buyer. The price for the asset, located at 2101-2151 N. Collins St. in Arlington, TX, was undisclosed.  The Tarrant Assessment District valued the asset at $12 million.

Chris Gerard, Chris Cozby, and Blaine Dozier with CBRE represented the seller, special services company C-III Capital Partners, based in Irving, TX, in the transaction.

The complex is anchored by a Walmart store, with the tenants including Chase Bank, la Madeleine, Chipotle, Sprint, Subway, MetroPCS, Pie Five Pizza Co., and GNC. Seville Commons, which delivered in 1987, once housed an Albertsons store.

“The Dallas Fort Worth market in 2017 only had 11 institutional grocery-anchored retail transactions. Given the large amount of retail in our market, this is a staggeringly low number of sales, and it highlights what a rare commodity high quality shopping centers are in DFW,” Gerard said.

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