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3563 Alton Road

Partners Capital Acquires Westcliff Shopping Center In Fort Worth For $14.8M
SOLDRetail

Partners Capital Acquires Westcliff Shopping Center In Fort Worth For $14.8M

3563 Alton Road

$14,800,000

$109/SF

Building Size

134,750 SF

Asset Type

Retail

Closing

Oct 17, 2023

AI

The Westcliff Shopping Center, located at 3563 Alton Road in Fort Worth, has been sold in a retail transaction. The property spans 134,750 square feet and is anchored by Albertsons. The deal was brokered by Disney Investment Group (DIG), representing the seller CTO Realty Growth, and assisting the buyer Partners Capital, an investment platform of Partners Real Estate. The sale price for the property was $14.8 million, resulting in a price per square foot of $110.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $14,800,000
  • Square Footage: 134,750
  • Address: 3563 Alton Road, Fort Worth
  • Market: Fort Worth

Jess Dickie from Partners Real Estate represented the buyer, Arjun Raghavan, in the transaction, while John P. Albright represented CTO Realty Growth as the seller's representative. Independent Financial served as the lender for the deal.

Fort Worth's Westcliff Shopping Center, a retail space anchored by Albertsons, was successfully sold for $14.8 million. Partners Capital, with the assistance of Jess Dickie from Partners Real Estate, acquired the property from CTO Realty Growth. Disney Investment Group (DIG) facilitated the transaction as the seller's representative.

Players

Jess Dickie

Partners Real Estate

Broker

$14.8M

vol

1 deal

Broker

Arjun Raghavan

Buyer

$14.8M

vol

2 deals

Buyer
S3 Capital
S3 CapitalBuyer
John P. Albright

John P. Albright

CTO Realty Growth

Seller

$683.8M

vol

15 deals

Seller
S3 Capital
S3 CapitalLender

Fort Worth 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

1.07%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93