CBRE Arranges Sale of Retail Strip in Fort Worth to International Investor
DALLAS– January 26, 2017 –CBRE announces the sale of Clifford Crossing, a 4,300-square-foot retail strip in West Fort Worth. Blazing Meadows Investments, LLC purchased the asset for an undisclosed price from MG Retail Partners, who developed the property in a joint venture with Vaquero Ventures. This is the first U.S. investment for South African-based Blazing Meadows Investments.
Clifford Crossing, located on the northwest corner of Clifford Street and I-820, was built in 2016 and is 100 percent leased by two blue chip companies. Michael Austry, a Vice President with CBRE in Dallas, represented the seller, and Karim Budri with Gharbieh + Associates in Dallas represented the buyer in the transaction.
“This is brand new construction with strong, recognized tenants and it generated significant investor interest,” said Mr. Austry. “The property was under contract within 30 days of listing and before rent commenced. I was thrilled to see the interest the property generated from the international investment community. Many of the properties we’re currently marketing are attracting similar interest from international capital and that says a lot about the strength of the North Texas economy.”
“We are extremely pleased with our first U.S. acquisition. With continued growth in the DFW area, there is great potential here and we will continue to look for good investment opportunities within this market,” said Ahmed Omar with Blazing Meadows Investments.