The asset involved is a 375,000 square foot retail portfolio located at 2317 North Tarrant Parkway in Fort Worth. It consists of three fully-leased retail centers known as Presidio Junction, which are currently 100% leased. The property features major retailers such as TJ Maxx, HomeGoods, Ross, Aldi, Petco, Old Navy, Sephora, Shoe Carnival, Five Below, Daiso, and Rally House, with shadow anchors including Target and Costco. The centers were developed between 2015 and 2020 and include nine ground leases for restaurants and retailers such as Whataburger, Chick-fil-A, Uncle Julio’s, Jack in the Box, and Chuck E. Cheese.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not specified
• Address: 2317 North Tarrant Parkway
• Market: Fort Worth
• Buyer: Younger Partners Investments
• Seller: Weber & Company
• Brokers: Susan Rasberry, Cort Martin, Micah Ashford, Moody Younger, Kathy Permenter - Younger Partners Investments

The deal was facilitated by the Dallas-based company Younger Partners Investments, who will also oversee property management through Younger Partners Property Services and handle leasing at Presidio Junction. Additionally, Institutional Property Advisors Senior Managing Director Adam Mengacci arranged both the senior loan and preferred equity for the transaction. Plans for updates to Presidio Junction include wayfinding improvements and additional signage.