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Property Sale

Grocery Anchored Center Sells in Cedar Hill, TX

Sam House completes sale of community center in South Dallas-Fort Worth submarket

Sam House with Secure Net Lease arranged the sale of Cedar Hill Crossing, an institutional-quality, 187,770-square-foot grocery-anchored shopping center located in the South Dallas market of Cedar Hill, TX. Secure Net Lease’s Sam House recently joined the nationally-recognized brokerage firm, which according to Costar, has been the top producing brokerage company in Texas for investment retail property sales since 2019.

Secure Net Lease’s Sam House represented both parties in the transaction. The buyer was a Dallas-based private investor that was strategically seeking to increase its market share in the Dallas-Fort Worth Metroplex. The seller was a New York-based mid-market private investor. Secure Net Lease’s team also assisted the buyer in securing debt financing.

“We utilized our local relationships by having them compete to generate activity for Cedar Hill Crossing. That strategy ultimately drove pricing to the top of the market,” said House. “The aggressive marketing campaign delivered 14 offers and allowed us to meet the high pricing expectations of the seller. The seven-months long marketing effort concluded with the logical selection of a local investor that was able to close at the desired price point.”

Cedar Hill Crossing is anchored by national retailers such as Kohl’s, Dollar Tree, DaVita, Petco, and Planet Fitness. Built in 2000 and 2001, the multi-tenant property is strategically situated on 21.4 acres at 420 US Highway 67 & 445 E FM 1382 and has 1,034 parking spaces. The site is shadow anchored by a Home Depot, Albertson’s, and a U.S. Postal Office. The center consists of four single story buildings on two lots and has out-parcel tenants including Starbucks, Panda Express, The UPS Store, Slim for Life, Zena Dental and Smile Doctors, to name a few.

The high-visibility site in central Cedar Hill boasts a half mile of frontage and seven access points along a high-volume transportation corridor with a combined average traffic count of nearly 220,000 vehicles per day. The surrounding South Dallas-Fort Worth submarket has an affluent consumer base and sits within a dominant retail trade area encompassing more than 3.4 million square feet of retail space located within a mile of the center. Cedar Hill Crossing has a stable, long-term occupancy, which has been historically strong with an average tenant tenure of 15.3 years.

The Southwest Dallas submarket consists of 15.6 million square feet of retail space including three separate micro-markets – Cedar Hill/Duncanville/Desoto,

Lancaster, and Southwest Dallas County. Cedar Hill Crossing is located within the Cedar Hill/Duncanville/Desoto micro-market, which typically boasts better fundamentals than its sister markets.

About Secure Net Lease

Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.

The aggressive marketing campaign delivered 14 offers and allowed us to meet the high pricing expectations of the seller.

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