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Texas  + Austin + Austin  + Retail  |  August 2, 2023
CBRE/Edens JV on Irving Shopping Center acquisition
Mike Boyd
By: Mike Boyd

CBRE, EDENS Jointly Acquire Las Colinas Shopping Center

A joint venture between shopping center owner-operator EDENS and CBRE Investment Management has purchased MacArthur Park, a 425,612-square-foot retail power center in the Las Colinas area of Irving. CBRE Investment Management has acquired the center on behalf of a client. EDENS website mentions Target, Kroger, Office Depot, T.J. Maxx, Michaels, Ross Dress for Less and Ulta Beauty serve as the anchor tenants at the center, which was built in 2001.

 
The property also features 1,640 parking spaces, EV charging stations and is situated at the intersection of I-635 and the George Bush Turnpike, two primary thoroughfares providing a connection to the greater Dallas-Fort Worth area.

 
According to CBRE’s Dallas-Fort Worth Q1 2023 Retail Report, the overall retail tenant occupancy rate for the area stood at 94.9%, reflecting strong demand for the sector. Las Colinas is home to more than 2,000 companies and headquarters to three Fortune 500 companies. 

Read More News Stories About: CBRE
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Inside The Story

Sondra Wenger

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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