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**Dunhill Partners Acquires Two Fully-Leased Texas Retail Centers**
Dunhill Partners has acquired a portfolio of two grocery-anchored shopping centers in Texas, totaling 220,938 square feet. The sale was brokered by JLL Capital Markets’ Investment Sales and Advisory team, led by Chris Gerard and Adam Howells, on behalf of the seller, Phillips Edison & Co.
The portfolio includes:
– **Northpark Village** in Lubbock, a 70,479-square-foot shopping center anchored by United Supermarkets, part of the Albertsons Family of Companies. The center boasts a strong tenant retention rate, featuring a weighted average lease tenure of 29.2 years and minimal lease rollover exposure — less than 11% over the next three years.
– **Commerce Square** in Brownwood, a 150,459-square-foot retail property, is anchored by national tenants such as TJ Maxx, Aldi, Boot Barn, and Harbor Freight. The site offers significant investment upside, with in-place rents currently about 32% below market value. The property is projected to deliver a 5.74% compound annual growth rate over seven years and includes two pad development opportunities across approximately 1.5 acres.
Both properties are 100% occupied and strategically anchored by grocery stores with strong market positions, further enhancing their attractiveness as long-term investments.
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