11-3-2016: TRC Transaction Represents Record Sale for Hobby Lobby
A partnership between The Retail Connection and Rockstreet Partners has sold the recently developed Plano, TX 55K square foot Hobby Lobby.
The property sits on the southeast corner of Park Blvd. and Plano Parkway, adjacent one of the highest grossing Petsmart, Home Depot and Costco retail stores in the DFW metroplex. The single tenant development is located in one of DFW’s most desirable submarkets, boasting some of the strongest demographics in the region.
Hobby Lobby, has over 600 stores in 45 states nationwide. Jenny Reynolds, Executive Vice President Brokerage and Chad Bradshaw, Vice President Development for The Retail Connection; and Rockstreet Partners, owners, were represented by sellers agents Patrick Toomey and Kyle Matthews of Matthews Real Estate Investment Services on the sale.
The undisclosed buyer, who 1031-exchanged into the deal, was represented by Dallas-based Kodiak Capital Partners.