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:
- Property Type: Retail
- Transaction Amount: Not specified
- Buyer: Syd Hurley - Vista Property Company
- Brokers: Barry Brown, Ben Pollack, Chris Gerard, Erin Lazarus & Keenan Ryan - JLL
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
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