The new owner says it plans to upgrade its facilities and improve financial performance.
DALLAS — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
A prominent shopping center in southwest Dallas now has a new owner who has plans to upgrade the site and improve its finances.
Houston-based Partners Capital, the investment arm of Partners Real Estate, bought the 10-acre property in a deal that closed May 9.
Kessler Shopping Center is an open-air, two-building retail center that was built in 1989. Situated in the north Oak Cliff market, the 102,020-square-foot shopping mall is currently 98.6% occupied and serves residents in the Kessler Park neighborhood.
Partners said this acquisition “highlights its continued confidence in the Dallas market.” It sees potential to upgrade the center and enhance its financial performance. As new owners of the shopping center, Partners said it plans to upgrade the retail frontage along Fort Worth Avenue, modernize tenant signage and enhance the mall sign to encourage more traffic.
