Texas + Dallas-Fort Worth + Retail | March 9, 2021

Two DFW Retail Assets Sell to Separate Private Firms for $37M

Hickory Creek Plaza in Denton and Towne North in Irving recently sold for $37.2 million. Hickory Creek was purchased by a private REIT and Towne North’s buyer was an out-of-state private equity firm.

Hickory Creek Plaza is a 28,134-square-foot retail center shadow-anchored by a Kroger Signature store. Two bank outparcels ground leased to Chase Bank and Wells Fargo were included in the sale. David Disney and Adam Crockett of Disney Investment Group (DIG) represented Regency Centers on the sale.

Towne North is a 124,289-square-foot shopping center anchored by El Rancho Supermercado and currently 97 percent leased. Towne North is located at the southwest corner of Beltline and Northgate roads, approximately one mile north of Irving Mall. Last year, the shopping center was renovated and repositioned to benefit from the increasing population growth surrounding the property. Disney and Crockett handled the sale on behalf of an entity controlled by Nayeb Group.

In 2019, DIG sold Towne North to Nayeb Group on behalf of an affiliate of Dallas-based HSM Equities.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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