Whitestone REIT Buys Retail Center Next To World Cup Site: The DFW Deal Sheet
A Houston-based shopping center owner picked up a key retail location next to a World Cup team base camp.
Whitestone REIT acquired the restaurant-anchored World Cup Plaza in Frisco. The 90K SF retail center is adjacent to the 21,000-seat Toyota Stadium that will be used as a practice and training location for a visiting team during the 2026 FIFA World Cup.
“Not only does this center benefit from strong year-round traffic because of its prime location, but we are expecting a surge in visitors in 2026 because of the World Cup and the center’s proximity to Toyota Stadium,” Whitestone CEO Dave Holeman said in a statement. “We believe World Cup Plaza presents a unique opportunity to strengthen our portfolio and drive shareholder value, while simultaneously improving the durability of our cash flows.”
World Cup Plaza was developed in 2007 at the northeast corner of Main Street and the Dallas North Tollway. It fits Whitestone’s investment strategy of acquiring well-located, neighborhood shopping centers in growing markets, Chief Operating Officer Christine Mastandrea said.
The retail center is within 5 miles of nearly 294,000 people with an annual household income of $149K per year. It is across from the 147-acre Frisco Square mixed-use development, and the nearby intersection gets around 135,000 vehicles per day.
Whitestone also owns four nearby shopping centers: Headquarters Village, The Shops at Starwood, Lakeside Market and Eldorado Plaza.
SALES
Marcus & Millichap announced the sale of the nearly 23K SF Uptown Center retail strip in Cedar Hill. The fully occupied retail center at 613 Uptown Blvd. was built in 2005 on 2.7 acres. Marcus & Millichap’s Philip Levy and Scott Abeel marketed the property on behalf of the seller and procured the buyer.
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Bridwell Capital sold the 180-unit Cooper Park multifamily property in Arlington to Endurance Capital. The property was built in 1979 on 13 acres. Institutional Property Advisors’ William Hubbard, Taylor Hill, Michael Ware, Drew Kile and Joey Tumminello represented the seller and procured the buyer.
LEASES
Rock’em Western Wear leased 20K SF in the Preston Valley Shopping Center at 5850 Lyndon B. Johnson Freeway in Dallas. Weitzman’s Emilie Paulson and Ben Terry handled negotiations on behalf of Preston Valley. Resource Commercial Real Estate’s Michael Zatopek and Chris Zatopek represented the retailer.
CONSTRUCTION AND DEVELOPMENT
Dallas-based developer Creation, in partnership with PGIM, began construction on the 600K SF 635 Exchange logistics hub on the site of a 36-acre former Dallas landfill near the intersection of Interstate 635 and Interstate 35E. The campus will feature building clear heights of 32 to 36 feet, trailer parking and multiple points of highway access. LGE Design Build is leading architecture and construction, with delivery scheduled for late 2026.
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JPI broke ground on a $103.2M multifamily development at 3855 Hudsonwood Road in Denton. The 415-unit Jefferson Quail Creek is the company’s second partnership with the Denton Housing Authority this year. Jefferson Quail Creek’s first units are expected to be delivered in the second quarter of 2027.
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Main Square Development will build the $3B Terra Nova master-planned community near FM 245 and Griffith Road in Terrell. The 1,545-acre community will include 3,600 single-family homes, 1,200 multifamily units and a 48-acre mixed-use district known as Terra Nova Village. The mixed-use district will include up to 200K SF of retail, restaurant and office space. Infrastructure and site development will begin immediately. Main Square Development expects to break ground on the first model homes in early 2027.
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Construction company F.H. Paschen completed a renovation project for American Airlines at Dallas Fort Worth International Airport, updating 32 back-of-house restrooms for employees in Terminals A and C. Moody Nolan did design work for the $4.7M project.
FINANCING
Institutional Property Advisors refinanced Buckingham Place Shopping Center in Richardson. IPA Capital Markets worked on behalf of the owner to arrange financing from BankUnited. The center is anchored by Fiesta Mart. IPA’s Sunny Sajnani and Travis Headapohl represented the borrower.
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Marcus & Millichap Capital Corp. secured financing for the acquisition of Crossroads Shopping Center at the intersection of Parker Road and Independence Parkway in Plano. MMCC worked on behalf of the buyer to arrange financing from Ciera Bank. MMCC’s Brandon Wilhite represented the borrower.
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JLL Capital Markets arranged refinancing for the 175K SF 3100 Monticello office building in Dallas. Working on behalf of the borrower, Prescott Group, JLL placed a five-year loan with a regional bank. The nine-story building, which was built in the 1980s, has received more than $4M in upgrades throughout Prescott Group’s hold period. The 90%-leased property is in Dallas’ Highland Park neighborhood. JLL’s Trey Morsbach, Jarrod McCabe, Jordan Buck and Riley Alam represented the borrower.
PEOPLE
Crescent Communities added Ryan Stewart as managing director for North Texas. Based in Dallas, Stewart will lead the growth of Crescent’s multifamily and mixed-use communities across North Texas. Stewart brings more than 25 years of experience in mixed-use and multifamily real estate development and most recently served as CEO of Price Partners.
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The Ritz-Carlton Dallas, Las Colinas named Jacopo Nardini its director of food and beverage. Nardini brings more than 15 years of hospitality experience and was most recently director of restaurants at The Ritz-Carlton Half Moon Bay.
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Gary Price rejoined Worthington Bank as CEO after a brief retirement from his role as market president of the Colleyville location. Price takes over as CEO from Greg Morse, who was promoted to executive chairman of the board. Price had a 14-year tenure with Worthington Bank and will focus on long-term strategic initiatives in his new role. Morse will serve as a conduit between the board and Worthington Bank leadership. He has 24 years of service with the bank.
THIS AND THAT
Lewisville-based property services provider MCS will sell its mortgage services business line to Stewart Information Services Corp. Stewart will acquire all MCS operations, processes and technology that support mortgage servicers and lenders, while MCS will retain everything related to the MCS Commercial, MCS Residential and MCS Government Services businesses.
MCS is led by an investor group that includes Littlejohn & Co., Lynstone Holdings and Neuberger Berman Alternatives Advisers. Macquarie Capital served as the exclusive financial adviser to MCS, and Baker Hostetler served as the firm’s legal representative.
