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Westcliff property brings $15MWestcliff property brings $15Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=159882017-03-08T06:00:00Z2017-03-08T17:55:00Z

​​FORT WORTH – Consolidated-Tomoka Land Co. has aquired the 136,000-sf grocery-anchored shopping center located at 3563 Alton Rd. for $15.0 million at a 6.28 percent cap rate. 

Known as Westcliff, the property is an in-fill location on 10.3 acres and consists of four single-tenant properties and one multitenant property situated on three separate, but contiguous, land parcels.

The anchor property is a 39,000-sf building leased to Albertsons under a triple-net lease. About five years remain on the lease. 

Cook Children’s Health Foundation leases the second largest property, a 38,000-sf office building.

The multitenant property is approximately 55,000 sf and is anchored by Dollar General and Ace Hardware.

The property, in aggregate, is 96 percent leased with a weighted average remaining lease term of approximately 4.1 years.

It is located near downtown Fort Worth and less than a mile from the campus of Texas Christian University. ​
Morningstar
Dallas-Fort Worth-Arlington
Retail
http://news.morningstar.com/all/business-wire/BWIPREM20170302005331/consolidated-tomoka-announces-purchase-of-grocery-anchored-shopping-center-in-fort-worth-texas-for-150-million.aspx

​​Want more data? See DFW Retail Market Research. 

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