Location is Key for Shops at Vista Ridge’s New Owner

The Shops at Vista Ridge, a 74,837-square-foot community retail center located at the southeast corner of FM 3040 and MacArthur Boulevard, recently sold to a local investment group. The center benefits from a visible location in Lewisville’s most prominent retail district, along a major thoroughfare with a combined 62,371 vehicles per day. The trade area reports 99,000 residents with an average household income of $106,000 in a three-mile radius.

Its Internet-resistant tenant mix includes national and regional retailers such as retail, restaurant, fitness, beauty and service uses. Anchors include Texas Family Fitness and Harbor Freight Tools. Other notable tenants include Salons by JC, McAlister’s Deli, Smoothie King and Hobbytown USA.

Matthew Rosenfeld, Kevin Butkus and Giovanni Scardino with Weitzman handled negotiations on behalf of the seller, Lamar Companies and Real Capital Solutions.

“The retail investment sales market is the strongest it’s been in quite some time as investors are shifting back to retail to seek out a better return than multifamily and industrial assets,” says Rosenfeld.