Fifth Corner Acquires Park Village Shopping Center In Southlake, TX
1065 East Southlake Boulevard
Building Size
185,000 SF
Asset Type
Retail
Closing
Jan 26, 2024
About this deal
AI
The Park Village shopping center in Southlake, TX, has been acquired by Houston-based investor Fifth Corner. The over 185,000-square-foot center, anchored by popular retailers like REI and West Elm, was previously owned by Excel Trust Inc.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Square Footage: 185,000 SF
- Address: 1065 East Southlake Boulevard
- Market: Southlake
- Acres: 19
Fifth Corner, represented by their broker Tenel Tayar, continues to expand their real estate market portfolio with this acquisition. The Park Village shopping center features tenants such as IKEA and Michael's, and is an attractive asset for Fifth Corner's investment strategy.
On the Map
Retail
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Players
Southlake Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93