| Westcliff property brings $15M | Westcliff property brings $15M | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=15988 | 2017-03-08T06:00:00Z | 2017-03-08T17:55:00Z | 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. | Read more at {Source} |
