FLOWER MOUND—CenterSquare Investment Management, on behalf of a public pension fund client, has purchased Arbor Crossing, a 19,2660-square-foot neighborhood retail center located at 5810 Long Prairie Road, as an investment. Arbor Crossing was developed and managed by Scott Remphrey with Brytar Companies. The Seller was a Dallas-based LLC.
Scott Remphrey along with Michelle Caplan and Matthew Rosenfeld with Weitzman handled negotiations for the Seller. Rob Holuba, Patrick Camporini, Victoria Taylor Madrid and Justin Okumus with CenterSquare Investment Management handled negotiations for the Purchaser.
Arbor Crossing, located in the affluent Flower Mound submarket, is fully leased to a diverse mix of national tenants including The UPS Store, Verizon, Nekter Juice Bar, Fuzzy’s Taco Shop and several local concepts.
Arbor Crossing is CenterSquare’s second unanchored suburban acquisition in the Dallas market and 24th nationally.
According to CenterSquare, the Arbor Crossing acquisition aligns with its strategy of targeting unanchored, suburban properties with e-commerce resistant tenants located in the growing Sunbelt region of the U.S. CenterSquare has been actively investing and operating in a number of markets including Atlanta, Charlotte, Fort Lauderdale, Houston, Orlando, Phoenix and Las Vegas for the Service Property strategy since 2016.