Big V makes its first DFW purchase

Glade Parks Town Center, a 560,000-square-foot big box shopping center, has a new owner.

Charlotte-based Big V Property Group picked up the Rio Grande Boulevard property from its previous owners — a joint venture between Iron Point Partners and North Rock Capital — for an undisclosed amount. Equity Street Capital also provided funding for the acquisition.

The 53-acre shopping complex is Big V’s fourth retail center in Texas, having acquired several shopping centers in the San Antonio and Houston areas. However, Glade Parks marks the investor’s first foray into the Dallas-Fort Worth metroplex. The firm also has a “major office” presence in San Antonio, according to its website.

The DFW metroplex is huge, but you have to start somewhere so Big V chose Euless, one of the growing submarkets smack between Dallas and Fort Worth city centers—- just south of the DFW International Airport.

“We are excited to continue our expansion into Texas with our first acquisition in the Dallas area, Glade Parks,” said CEO Jeffrey Rosenberg. “The Dallas Metroplex is a dynamic growing marketplace, and this is the first of several acquisitions planned in this exciting market.”

Completed between 2014 and 2018, the shopping center is more than 90 percent leased with tenants including Belk, Dick’s Sporting Goods, Michaels, HomeGoods, Boot Barn, Old Navy and Burlington Coat Factory. It also has a three-story garage and is adjacent to a Target store and an Aloft Hotel.

Last year, Big V purchased more than 1 million square feet of restaurant and retail space at the Rim shopping center in San Antonio from Hines Global, and also picked up Deerbrook Marketplace, a 360,000-square-foot shopping center near Houston.

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[DMN] — Maddy Sperling