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Alto, Trademark Launch JV with Purchase of Fort Worth Shopping Center

87,000-SF 5000 South Hulen Anchored by Barnes & Noble, Old Navy
January 17, 2018
New York City-based Alto Real Estate Funds partnered with local retail real estate owner, operator and developer Trademark Property Co. to acquire an open-air shopping center in Fort Worth, TX for $22 million, or approximately $253 per square foot.

The 86,943-square-foot 5000 South Hulen center is 95 percent leased to a tenant roster that includes anchors Barnes & Noble and Old Navy, as well as such national and regional retailers as Potbelly Sandwich, Jamba Juice, Sprint, America’s Best Contacts & Eyeglasses and Ideal Image.

“5000 South Hulen is an ideal fit within our acquisition strategy,” said Tommy Miller, CIO of Trademark Property Co. “It is a best-in-class property, with a strong tenant mix, located within one of the most established and recognized retail nodes in Fort Worth. After all, it’s all about location, location, location.”

5000 South Hulen delivered in 2005 adjacent to Hulen Mall in west Fort Worth. The property sees an average daily traffic count of 42,200, according to a press release issued by Trademark.

Aaron Johnson of HFF brokered the deal on behalf of the seller, Shopcore Properties. The acquisition marks the first investment for Alto Fund III and Trademark.

For more information on the transaction, please see CoStar Comp #4102221.
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