3662 W Camp Wisdom Rd, Dallas, TX, 75237, US

The Shops at Redbird

Asset Description

Jones Lang Lasalle Americas (“JLL”) has been engaged by 3662 Investors LP (the “Operator”, “Sponsor” or “RedBird LP”) to arrange structured equity from a third-party investor (“Investor” or “Partner”) to recapitalize the current partnership and fund future growth opportunities at The Shops at RedBird (the “Project”, “Development” or “RedBird”), an award-winning, 100-acre, mixed-use development in Dallas, TX. Since the initial investment in 2015, the Sponsor has transformed RedBird into a vibrant, mixed-use development that provides the surrounding community with the high-quality amenities it desires, deserves and can afford. The new vision seeks to create a dense mixture of retail, office, hotel, medical and multifamily space while also encouraging walkability throughout the site with its one-acre lawn for community events. The Project consists of a combination of both mature assets that are producing cash flow and assets that allow for future development opportunities, all in a market with attractive demographic winds at its back.

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Attributes

Building area gross

81,343 m²

Occupancy

50%

Year built

1975

Media

Investment Highlights

Redeveloped into: 200,000 SF of medical space, 175,000 SF of retail, 300,000 SF of office neighbored by 300 luxury apartment units and a potential hotel development
#1 Starbucks in DFW (and one of the top in the nation) - the first standalone Starbucks in southern Dallas
#1 Foot Locker in DFW
UT Southwestern 15-yr remaining lease term
9-acre development site (~50,000 SF) for Tom Thumb grocery with additional retail - approved and financially backed by the City of Dallas
Upside potential of $2M+ net operating income projected in the North Wing with interested tenants such as TJ Maxx
20+ acres, shovel ready development sites, including ground leases and outparcel buildings along Hwy 67 and I-20