
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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