4-10-2014: Mansfield Pointe Shopping Center sells to Inland
Mansfield Pointe Shopping Center Sells for $28.4 Million in Dallas/Ft. Worth Metroplex
Inland Real Estate Income Trust, Inc. has paid approximately $28,400,000 to acquire Mansfield Pointe shopping center in Mansfield, Texas from an entity controlled by Dallas-based The Retail Connection and Plano-based Granite Properties. Connected Development Services, an affiliate of The Retail Connection, developed the center in 2008. David Disney of Disney Investment Group represented the buyer. Alan Shor and Chad Bradshaw of The Retail Connection, Paul Bennett of Granite Properties and Matthew Tice of Inland Real Estate Acquisitions handled the negotiations.
Totaling 148,529 square feet, Mansfield Pointe is shadow-anchored by SuperTarget and Home Depot and is currently 97% occupied. National tenants that were part of the sales transaction include Sports Authority, Bed Bath & Beyond, Petsmart, Party City, Half Price Books, Sleep Experts, Verizon, and Massage Envy. Mansfield Pointe is strategically located at the southwest quadrant of Highway 287 and Debbie Lane, which is the main retail intersection in the market.