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The more than 150,000-square-foot retail property is on Dallas Parkway, just north of the Galleria shopping mall. Built in 1995, it was previously anchored byThe high-traffic Far North Dallas property on the east side of the Dallas North Tollway was just snapped up by Dallas real estate firm Four Rivers Capital, county records show. Strive Real Estate arranged the property sale.
“It’s about 50% vacant,” Schoellkopf said. “We think it’s a great location. We will continue to operate it as retail and plan to own it long term.”Schoellkopf said eventually the owners may decide to redevelop the almost 12-acre property. “There could be any of number of uses that make sense here,” he said.
The area around the Galleria mall is seeing new construction projects including apartments, hotels and retail space. Four Rivers Capital is the same firm that developed the Weir's Plaza tower at Knox and Travis streets in Dallas.Four Rivers Capital is the same firm that developed one of Dallas’ most successful office and retail projects – the 12-storyThe $155 million development includes the more than century-old Highland Park Pharmacy building and a new Weir’s Furniture store on Travis Street. The Knox Street high-rise was fully leased when it opened last year.
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