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6034 Azle Avenue

Vista Property Company Acquires Lake Worth Marketplace Retail Asset
SOLDRetail

Vista Property Company Acquires Lake Worth Marketplace Retail Asset

6034 Azle Avenue

Building Size

200,000 SF

Asset Type

Retail

Closing

Mar 18, 2024

AI

The Lake Worth Marketplace, a 200,000-square-foot strip mall located at 6034 Azle Avenue in Lake Worth, Texas, has been acquired by Vista Property Company. The mall features a strategic location near Loop 820 and Jacksboro Highway, with a 93 percent occupancy rate. Kohl’s serves as the anchor tenant of this retail property.

Summary of transaction details:

Vista Property Company, known for specializing in retail acquisitions and development across Texas, demonstrates continued interest in retail real estate with the acquisition of Lake Worth Marketplace. The property's prime location and high occupancy rate contribute to its appeal, further solidifying Vista's presence in the retail sector.

Players

Erin Lazarus

JLL

Broker

$565M

vol

23 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93