JLL Closes Sale Of Muse Shops At Midtown In Dallas, Texas
5203 Alpha Road & 5233 Alpha Road
Building Size
112,162 SF
Asset Type
Retail
Closing
Apr 25, 2024
About this deal
AI
The Muse Shops at Midtown, a recently redeveloped retail center in Dallas, Texas, encompassing 112,162 square feet located at 5203-5233 Alpha Road, was sold in a transaction closed on 04/25/2024. The property's strategic location in North Dallas offers potential for value enhancement through additional lease-up opportunities. Over the past year, more than 70,000 square feet of new leases have been signed at this retail center.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 5203-5233 Alpha Road
- Market: Dallas
- Asset Type: Retail
- Square Footage: 112,162
JLL Capital Markets represented the seller in the sale of Muse Shops at Midtown. The deal was facilitated by brokers Adam Howells, Erin Lazarus, Keenan Ryan & Megan Babovec from JLL. The property's appeal lies in its recent redevelopment and location in a bustling retail area of Dallas, Texas.
Players
Dallas 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