Dallas Retail Center Sells for $39.3 Million

In Dallas, Inland Diversified Real Estate Trust purchased the newly constructed Wheatland Town Center, a 206,223-sf shopping center located in Dallas, for $39.3 million. Tenants at the center include Ross Dress for Less, PetSmart and Office Depot, and the property is shadow-anchored by a Target store, which was not purchased.

Additional tenants at Wheatland Town Center include Party City, Dollar Tree, Shoe Carnival, Rue21, Five Below, Citi Trends, The Children’s Place and Radio Shack.

“This property is located in Dallas, Texas, one of the strongest retail markets in the country,” commented Barry Lazarus, president and chief operating officer of Inland Diversified. “We like shopping centers that are strategically located next to Target stores, because they typically generate increased traffic flow for all other tenants.”