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Fidelity Acquires Plano Retail Center
Head Capital Partners has spun off Independence Square, a 140,218-square-foot retail property in Plano, Texas. Fidelity bought the property.
Independence Square, located at 3100 Independence Pkwy., sits on a 13.37-acre site. The center, built in 1977 and renovated in 2005, features a mix of tenants anchored by Tom Thumb, which has maintained a 46-year tenure at the location. The property boasts a strong 93% occupancy rate with a weighted average lease term of 4.6 years. Independence Square has also demonstrated strong leasing momentum with notable tenant upgrades since 2023.
Chris Gerard, Erin Lazarus, Barry Brown, and Adam Howells led JLL Capital Market’s Investment Sales and Advisory team, which represented the seller.
“We’re seeing renewed interest from investors in high-quality retail assets that serve as community hubs and offer stable cash flows with growth potential,” added Lazarus.
- ◦Sale/Acquisition
