Kite flying high with buy: 201,000-SF Colleyville Downs

COLLEYVILLE – The 201,000-sf Colleyville Downs retail center at the southeast corner of Glade Rd. and Hwy. 26 has been sold.

Built in 1988, Colleyville Downs is anchored by Petco, Ace Hardware and a 40,000-sf Whole Foods, which opened in a newly developed location following renovations in 2015. The center is 92 percent leased.

Currently 92 percent leased, the center is positioned along Colleyville Blvd. within the Grapevine/Colleyville Retail submarket.

The shopping center is well-positioned in a densely populated, desirable market with an estimated population of 80,000 and an average household income of $127,000, both within a three-mile radius.

Kite Realty Group Trust (KRGT), a full-service real estate investment trust headquartered in Indianapolis, finalized its acquisition earlier this month of the Colleyville Downs.