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Commercial
Texas

Dallas firm picks up third North Texas retail property

Younger Partners Investments now owns Crockett Row in Fort Worth’s Cultural District

From left: Younger Investment Partners' Micah Ashford and Kathy Permenter
From left: Younger Investment Partners' Micah Ashford and Kathy Permenter (Younger Investment Partners, Getty, Fort Worth)

The aptly-named Younger Partners Investments — founded just two years ago — just made its third North Texas acquisition.

The firm purchased Crockett Row, a 282,334-square-foot retail and office complex located in Fort Worth’s Cultural District for an disclosed amount, according to the Dallas Morning News. Hamilton Realty Finance provided funding for the buy while the Dallas-based firm’s partners — Kathy Permenter, Micah Ashford and Moody Younger — brokered the deal.

YPI has purchased two other North Texas properties. The first was Heath Town Center, a 77,669-square-foot grocery-anchored retail center in Heath, which it bought in early 2021. It also picked up a 96,948-square-foot retail center on Preston Road dubbed The Shops at Prosper Trail in January. Prosper is one of the most exclusive and expensive submarkets in North Texas.

Spanning the southeast corner of University Drive and West 7th Street, Crockett Row was completed between 2009 and 2014. Its website says that it was designed by Dallas-based Good Fulton & Farrell.

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Crockett Row represents a rare walkable corridor in a largely car-dependent city. As of the time of closing, Crockett Row was 74.6 percent leased. YPI says it plans to upgrade the property with the addition of public spaces, parking improvements, new signage and additional elevators.

“Crockett Row was a target investment for us because of its strong supporting demographic and iconic location in the Cultural District, next to some of Fort Worth’s most affluent neighborhoods,” said Permenter. “The amount of tenant interest in this neighborhood has already far exceeded expectations.”

While Ashford says the commercial property “has it all,” the Fort Worth Star-Telegram reported that the area has experienced a series of departures in recent months. Fireside Pies closed in February, following the closure of the Crockett Hall food court and bar in January and shutdowns by Dallas-based Blue Fish Sushi and a center neighbor, Fred’s Texas Cafe.

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— Maddy Sperling