Venture completes two Tarrant County Albertsons transactions
May 9, 2014
Venture reps sellers in sale of former Albertsons box in Mansfield and Albertsons-owned land tract in North Richland Hills
May 9, 2014 – John Zikos and Chris Booras of Venture Commercial Real Estate have completed the sale of a former Albertsons building in Mansfield, representing the seller, Dallas Retail Associates, LP. D. Randall Stepp of Lincoln Property Company and Nick Ibarra of Clear Fork Properties represented the buyer, Walnut Creek Plaza, LLC.
The 59,297-square-foot anchor building is located at 989 North Walnut Creek Drive, in the Walnut Creek Village shopping center on the southwest corner of Walnut Creek and U.S Highway 287. The building is 100% leased, occupied by Big Lots and an Urban Air Trampoline Park.
The Mansfield building was the last to be sold of five former Albertsons stores located across North Texas that had been acquired by a partnership between Centennial Real Estate Company and The Praedium Group operating as Dallas Retail Associates, LP. Between 2007 and 2014, Venture represented the partnership in the acquisition of all five buildings, made several junior anchor leases to backfill the buildings, and represented them on the disposition of four of the five buildings.
In a separate transaction, Zikos and Booras, along with Christopher Gibbons, also of Venture, represented Albertsons in the sale of a five-acre land tract in Richland Hills to Walmart. The property, located at the southwest corner of State Highway 26 and Rufe Snow Drive, will be developed for a Walmart Neighborhood Market. Tom Hudson of The Tom Hudson Company represented Walmart Real Estate Business Trust.
About Venture Commercial
Venture Commercial Real Estate is recognized as a leader in retail brokerage services throughout Texas for its dedication to each client’s success. The company’s full-service real estate platform includes landlord and tenant representation, property management, land sales, disposition and income property sales. Venture also provides strategic market planning and site selection for restaurant and entertainment clients through its Venturetainment division. Venture is the D-FW partner of X Team International, a network of retail real estate advisors with expertise across the U.S., Canada and Europe.