Younger Partners Investments sells 3 restaurant parcels at Midlothian Towne Crossing

MIDLOTHIAN – Dallas-based Younger Partners Investments recently sold three restaurant land parcels at the Midlothian Towne Crossing shopping center. 

YPI acquired the 99%-leased retail center in December 2023.

The parcels sold include Chili’s Bar & Grill at 2250 FM 663, McDonald’s at Hwy 287 and FM 664, and Chick-fil-A at 2010 FM 663. CBRE’s Jared Aubrey and Michael Austry represented YPI in the sale to undisclosed buyers. Midlothian Towne Crossing features 147,161 square feet of retail space on 34 acres at the southeast corner of the FM 633 and Highway 287 intersection in Midlothian, about 25 miles south of Dallas.

Built in 2019, Chili’s is located on a 1.69-acre pad site with a 10-year lease.

The restaurant features a dedicated curbside pick-up, ample parking and excellent ingress and egress along FM 663. 

The site pad that McDonald’s occupies also has a long-term lease. 

Built in 2022 on 1.07 acres, the corporate location includes a double drive-thru, abundant parking and excellent ingress/egress. 

Chick-fil-A was built in 2018 on a 1.73-acre pad site with a 20-year lease.  

The quick-service restaurant has two drive-thru lanes with indoor seating and ample parking. 

Chick-fil-A is the third largest fast-food restaurant chain in the U.S.

“Less than a year after we closed on Midlothian Towne Crossing, we are pleased that CBRE has successfully marketed these pad sites, which will be a great addition to any company’s portfolio,” said Younger Partners Investments’ Cort Martin. 

“This retail center is in a high-traffic location with about 2.9 million visitors a year and a growing Midlothian population, which has grown more than 6.8% since 2010 to now almost 47,000 strong.”

The Class A power center, anchored by Kroger, is comprised of several national brand tenants including Ross, Burkes Outlet, Petco, Ulta Beauty and Famous Footwear serving as junior anchors. Additionally, there is a complementary 65,656 SF of shop space offering a mix of retail, service and restaurant tenants.

“Midlothian Towne Crossing is anchored by the 13th most visited Kroger in Texas, which shows the viability of the power center and these pad sites,” said Aubrey, senior vice president with CBRE’s Private Capital Investment group.

“This location is in the path of growth,” Austry, also a senior vice president with CBRE, added. 

“With an average household income of more than $120,000, Midlothian is a great place for retail.”

Midlothian Towne Crossing is surrounded by 9,938 planned or under-construction single-family homes and 513 planned or under-construction multifamily units within a five-mile radius of the property, according to Esri 2022.

YPI acquired its first retail asset in 2021. In January, YPI acquired a two-property, 288,063-square-foot retail portfolio from the developer, Weber & Company, bringing YPI’s portfolio to more than one million square feet of retail. 

The acquisition also marks YPI’s expansion into East Texas while strengthening its existing North Texas holdings.

Dallas-based Younger Partners Investments (YPI) was formed in 2020 to acquire retail investment properties across Texas. 

From neighborhood grocery-anchored centers to lifestyle shopping centers, YPI seeks opportunities to create value for investors by acquiring unassailable assets. 

With a vision for excellence and a team of experienced principals in place, YPI approaches each prospective acquisition with an eye for quality and realistic expectations to create long-term value for our investors. 

Our affiliate, Younger Partners, provides high-quality leasing and property management for our assets. 

For more information, please visit www.youngerpartnersinvestments.com.