TNP Strategic Retail Trust, Inc., a public non-traded REIT affiliate of Thompson National Properties that invests in grocery and drug-store anchored, multi-tenant necessity retail properties and other real estate-related assets, announced this week that it had acquired Ensenada Square in Arlington, TX for $5.2 million. According to a Dallas Business Journal article, TNP represented itself in the deal while Brandon Beeson of EDGE Realty Capital Markets represented the seller, Coastal Equities.
"We believe the Arlington market is well-positioned for growth. Ensenada Square is located approximately one mile away from our last acquisition for TNP Strategic Retail Trust, Woodland West Marketplace in Arlington," said Thompson National Properties' senior vice president, acquisitions, Steve Corea. "Ensenada Square benefits from the close proximity to the University of Texas at Arlington with 34,000 students, the Dallas Cowboys Stadium, the Texas Rangers Ballpark at Arlington, Hurricane Harbor and Six Flags Over Texas."
Located at at 301 S. Bowen Road, the 62,676-square-foot center was originally built in 1976 and renovated in 2005. The center, which was reportedly 93% leased at the time of sale, is anchored by Kroger with other tenants including Family Dollar and Fort Worth Community Credit Union.
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