The Final Frontier
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|These are the voyages of Centric Capital Partners, whose mission is to acquire more land tracts, develop them into single-tenant net-leased inventory, and to boldly nab the last developable tract on the former Prestonwood Mall site.|
|Star date: Wednesday. Founder and CEO Charlie Corson tells us the 4.8-acre tract (pictured) is located at the NWC of Montfort Drive and Town Center Blvd between Beltline and Arapaho. The area is a very dense infill retail location with 565k SF of retail space along a 0.35-mile stretch of Montfort. It has a strong restaurant presence, Charlie adds, with Panda Express and Taco Bell opening new stores in 2010 and In-N-Out Burger is rumored to have signed a ground lease on the former CompUSA parking lot (diagonal to this tract), he tells us. Centric Capital Partners plans to develop the piece into four pad sites for sale or ground lease; the firm’s currently working contracts on two of the four pads. Centric Capital Partners has purchased 16 single-tenant, net-leased properties over the past 18 months in the Metroplex. No sale price disclosed.|