ShopCore Sells 140 KSF Property in Dallas

Independence Square. Image courtesy of JLL

Head Capital Partners has purchased Independence Square, a 140,218-square-foot grocery-anchored retail center in Plano, Texas, in the Dallas area. ShopCore Properties was the seller, according to CommercialEdge data. The property was 94 percent leased at the time of the sale.

A JLL Retail Capital Markets team led by Senior Managing Director Barry Brown and Chris Gerard, Director Erin Lazarus and Associate Ben Esterer represented the seller.

Built in 1977 and renovated in 2005, the retail center encompasses three buildings on a 13.3-acre site. Tom Thumb has been anchoring the property for 45 years, comprising 31 percent of the total rentable area. The tenant roster at Independence Square includes a mix of local and national businesses such as Oscar Nail Lounge, Top Foot Spa, Kids B Kids, Cookies by Design, Great Clips, School of Music, Little Greek Restaurant, Frost Bank, Genesis Theater, Jersey Mike’s, Peak Physical Therapy and Workout Anytime.

Independence Square is located at 3100 Independence Parkway. The property is near a high traffic intersection with dense population, with a daily traffic count reaching 34,000 vehicles, according to JLL. The retail center serves some 127,000 people within a 3-mile radius, with an average income above $130,000, according to the same source.

Elsewhere, ShopCore also recently sold First Colony Center, a 98,179-square-foot grocery-anchored retail asset in California, Md., in the Washington, D.C. area.