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New Market Properties Adds Kroger-Anchored Center in Dallas

Atlanta-based Preferred Apartment Communities, through its New Market Properties subsidiary, acquired Midway Market, an 85,599-square-foot grocery-anchored shopping center in Dallas. Terms for the all-cash transaction weren’t disclosed.

The center at 3939 Frankford Rd. is anchored by a Kroger, the market-share leading grocer. Midway Market is a high barrier to entry location with a three-mile population of 145,581 and average household incomes of more than $98,000.

“We now own 54 grocery-anchored centers, consistent with our strategy to acquire well-positioned grocery-anchored centers in suburban Sunbelt and Mid-Atlantic markets with strong demographics that are anchored by market leading grocers,” said Michael Aide, president of New Market Properties.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).