YP Investments acquires Midlothian Towne Center

MIDLOTHIAN – Dallas-based Younger Partners Investments  announced the acquisition of the 99% leased Midlothian Towne Crossing retail shopping center. 

The property contains 147,161 square feet of retail space on 34 acres, and is located at the southeast corner of the FM 633 and Highway 287 intersection in Midlothian.

Younger Partners Investments’ Moody Younger,  Kathy Permenter and Micah Ashford handled the transaction for YPI. CBRE’s Chris Cozby, Harrison Tye and Jim Batjer represented the seller.

“YPI bought this prized asset from the developer and original equity partners,” said Ashford. 

“It is a stabilized asset that was attractive because of its strong tenant lineup with incredible sales numbers and the opportunity to assume the property’s existing debt at a below-market rate.”

“This is a prime location – with 41,000 vehicles per day passing this center on 287 and another 19,000 vehicles on FM 633, featuring a highly successful Kroger-anchored center in the heart of a rapidly growing community,” said Younger.

Midlothian Towne Crossing has an impressive lineup of tenants with national brands including Ross, Burkes Outlet, JoAnn, 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. Several out-lot pads, including Chick-fil-A, McDonald’s and Chili’s further contribute to the property’s appeal, Ashford added.

The property is regarded as Midlothian’s premier shopping center, and is surrounded by 9,500 additional single-family units planned within a five-mile radius. Midlothian’s population (now almost 47,000) has grown more than 6.8% since 2010, with an average household income of over $120k.

YPI acquired its first retail asset in 2021. With the addition of Midlothian Towne Crossing, YPI now owns in excess of 600,000 SF across the Metroplex.