Oklahoma-based Mazaheri Properties has acquired The Shops at Chisholm Trail Ranch, a 213,416-square-foot retail center in Fort Worth.
JLL marketed the property on behalf of the seller, Street Level Investments. Located at SEC Chisholm Trail Parkway and McPherson Boulevard, the property is part of Chisholm Trail Ranch, a 600-acre master-planned community located in southwest Fort Worth, according to a news release. The Shops at Chisholm Trail Ranch is a 97.5% occupied, newly constructed center. Current leased tenants include Studio Movie Grill, Ulta, Old Navy, Ross, Marshalls, Tuesday Morning. and Five Below. The center gets 1.7 million visits annually with customers visiting an average of six times per year.
The immediate trade area has grown substantially with the opening of the Chisholm Trail Parkway toll road, and buying power is expected to increase 19% over the next 5 years, according to the release. Almost 500,000 residents are within a five-mile radius of the center and earn an average income of almost $90,000.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors
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