JLL Capital Markets closed the sale of the 211,971-square-foot Rockwall Market Center in Rockwall, Texas
News release
24 August 2023
DFW power retail center switches hands to Dunhill Partners
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DALLAS, Aug. 24, 2023 – JLL Capital Markets announced today that it has closed the sale of Rockwall Market Center, a 211,971-square-foot retail center located in the DFW suburb of Rockwall, Texas.
JLL marketed the property and assisted in the sale to Dunhill Partners, led by its CEO Bill Hutchinson.
Built in 1999, Rockwall Market Center is 100% leased to a robust, high-performing, national tenant roster, which includes Ross, Burkes Outlet, Michaels, Old Navy and Petco. The property features an average tenant tenure of 18.2 years, and 82% of the property’s income stream is generated from its national tenancy. The property draws over 1.5 million annual visitors.
Located at 2663-2885 Market Center Dr. within a dominant retail corridor, the property sits directly off of Interstate 30, offering visibility to over 103,000 vehicles per day. Rockwall Market Center benefits from proximity to both Lake Ray Hubbard and Highland Meadows neighborhood and is less than a 20-minute drive to downtown Dallas. Additionally, within a 10-mile radius is a daytime population of 317,271 and $17 billion in consumer spending power.
The JLL Retail Capital Markets team was led by Senior Managing Directors Adam Howells and Ryan Shore and Analyst Megan Babovec.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Dunhill Partners
Dunhill Partners is one of the largest privately held commercial real estate investment companies in the U.S. consummating over $5 billion in acquisitions, including the acclaimed Dallas Design District which sold earlier last year.