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Orlando-based Foundry Commercial and capital partner San Francisco-based Stockbridge snapped up Northview Plaza in Dallas’ Lake Highlands neighborhood. Foundry Commercial plans to update the 116K SF shopping center and lease the remaining 14% vacancy.
Northview Plaza is anchored by Kroger and houses tenants such as McDonald’s, Unleashed by PetCo, T-Mobile, Great Clips and Go 4 It Sports Grill. Foundry Commercial will refresh the center’s lighting, landscaping, awnings and Kroger signage.
In recent years, the center on Northwest Highway and Plano Road has seen demographic shifts as younger homeowners move to the Lake Highlands neighborhood. The center is about 3.5 miles away from the new Lake Highlands Sprouts Farmers Market.
This purchase will add to Foundry Commercial’s 1.1M SF Dallas portfolio. Foundry has purchased $160M in the last 18 months.
