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Vandergriff Town Center

200 N. Mesquite St., Arlington

Total SF: 28,221 SF

Date Acquired: August 2013

Investment Summary: This 2 story property was originally developed (not by SPP) for retail on the first floor, with a full floor office tenant on the second floor. Leasing of the retail was slow, and the property lost its second floor tenant, which led to foreclosure for the original owner. Its good fundamentals and close proximity to the SPP office, along with aggressive pricing by the foreclosing bank contributed to the decision to acquire the property. Since acquisition leasing of both retail and office have increased from 45% to 85%.

 

255 N. Center Street | Suite 200 | Arlington, TX 76011 | 817.226.5000