Northmarq Arranges 1031 Exchange Sale of Westover Village Shopping Center in Fort Worth, Texas

Westover Village

Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Westover Village located at 751 Alta Mere Drive in Fort Worth, Texas. The 7,500-square-foot unanchored shopping center was marketed on behalf of ownership by Anne Perrault of Northmarq. The center was acquired by a 1031 exchange buyer based out of Dallas, Texas.

“We were able to secure multiple offers during our pre-marketing phase, ultimately signing up the deal at the anticipated full asking price,” said Perrault, Director in Northmarq’s Tulsa, Oklahoma headquarters. “This high-quality Target outparcel was a great fit for the selected buyer’s 1031 exchange.”

Situated on 1.2 acres just eight miles from downtown Fort Worth, the strip center was constructed in 2021 and is fully leased to three tenants: Aspen Dental, Visionworks and Tropical Smoothie Cafe. All tenants operate on long-term net leases. The shopping center is an outparcel to a free-standing Target with other neighboring retailers including Burlington, Big Lots and ALDI, among others.

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About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.