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Tuesday, November 29, 2022
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Dallas Investor Acquires Local Mixed-Use Development

Real Estate

Crockett Row at West 7th, a five-block, pedestrian-friendly, mixed-use, urban village in Fort Worth. | Image by REJournals

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A Dallas-based property investment firm recently bought a mixed-use development in Fort Worth.

Crockett Row now belongs to Younger Partners Investments, the commercial real estate company announced. The property is a retail and office village located in Fort Worth’s Cultural District on the southeast corner of University Drive and West 7th Street.

Younger Partners Investments plans on maintaining the current use of the development but plans to make some upgrades, which will include additional elevators, parking improvements, and new signage.

Crockett Row currently leases to a variety of businesses, including LA Fitness, Movie Tavern, Fidelity Investments, and the office-share startup Common Desk.

The 282,334-square-foot retail and office village is almost 75% leased.

Younger Partners Investments was established in 2020 with the aim of acquiring retail properties across North Texas.

The firm previously bought The Shops at Prosper Trail, a 96-948-square-foot retail center located on Preston Road in Prosper. It also owns Heath Town Center, a 77-669-square-foot grocery-anchored retail center located in Heath. This latest acquisition is the company’s third, according to The Dallas Morning News.

Kathy Permenter, one of the company’s original founders and co-managing partner, explained that the team chose Crockett Row because of its “strong supporting demographic and iconic location in the Cultural District, next to some of Fort Worth’s most affluent neighborhoods.”

Other apartments, offices, and hotels are under construction in the area where Crockett Row is located. The retail and office village is near Fort Worth’s more popular museums, galleries, and the new Dickies Arena.

Hamilton Realty Finance provided the financing for the acquisition.

The terms of the sale are not known. However, co-managing partner Moody Younger said that there are plans to work with the City to “enhance accessibility throughout the property.”

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