InvenTrust Purchases The Highlands of Flower Mound

Illinois-based real estate investor InvenTrust Properties has closed its acquisition of the Highlands of Flower Mound, 174,994 square-foot retail property in one of Dallas’s largest and most active suburbs.

The property was listed in InvenTrust’s most recent company presentation, but the financial terms of the transaction were not disclosed, and the company did not respond for comment.

The Highlands of Flower Mound is located at the intersection of Long Prairie Road 2499 and Justin Road in Flower Mound, which is one of DFW’s fastest-growing suburban markets.

The neighborhood along the north shore of Grapevine Lake is expected to grow by 9.4 percent over the next five years, according to the property page, and has already seen substantial investment from other firms looking to take advantage of the prime location.

Retail tenants of The Highlands of Flower Mound include SuperTarget, Bed Bath & Beyond, and Cost Plus World Market.

InvenTrust has also purchased both the Shops at Arbor Trails and Escarpment Village in Austin for $189 million, which together totaled 525,000 square feet. They were 99 and 100 percent leased, respectively, and cited as a major milestone in the company’s expansion into the growing Austin market.

The firm is expanding that reach to Dallas as well, which is ranked as one of the most active real estate markets in the nation right now.

Read more

Commercial

Dallas

Dallas-area shopping center trades for $25M in 1031 exchange

Development

Dallas

Stream bets on Uptown Dallas