ARLINGTON, Texas—Cooper Street Annex, Ltd., a limited partnership managed by Weitzman, has acquired Cooper Street Annex, an 87,857-square-foot retail center located at 1520 W. IH-20 at its intersection with S. Cooper Street.
The acquisition was led by Stephen R. Schmidt, Weitzman’s Chief Investment Officer; Nick Cate, vice president of Finance; and Eric Yoo, financial analyst. Hudson Lambert with SummitRE represented the seller.
Weitzman will manage the center under the direction of senior property manager Allyson Flynn.
The fully leased center has a high-traffic lineup that includes Cavender’s Boot City, O’Reilly Auto Parts, Chuck E. Cheese Adventure World and WellMed. The center is peripheral to The Parks at Arlington, a Class A superregional mall. The center is located along Arlington’s key retail corridor and serves a dense trade area with more than 120,000 residents in approximately 44,000 households with an average household income of approximately $105,000 with a three-mile radius. The daytime population within the radius is approximately 112,000; daytime population is a metric used by retailers and businesses to determine traffic throughout the day.
“Cooper Street Annex offers a strong credit worthy lineup with national tenants at one of the best locations in the entire Arlington market,” Schmidt said. “The center’s location, tenancy and stability create an ideal long-term investment.”
