JAH Realty announces the acquisition of Park West Plaza, a 191,103 square foot shopping center located on approximately 17 acres at the northeast quadrant of Coit Rd. & W. Park Blvd. in Plano, TX. The 98% occupied center includes tenants such as Aldi, Elliot’s Hardware, Nadine Floor Company, CiCi’s Pizza, Dairy Queen and Firehouse Subs.
The seller of Park West Plaza was ASG Real Estate Company/The Alshall Group, and the sale was brokered by Cushman & Wakefield. JAH closed on the acquisition on September 1, 2022 through Republic Title with a loan from Southside Bank.
Graham Irvine, Managing Director at JAH commented: “Park West Plaza will make our 6th shopping center acquisition in Collin County, and our 3rd acquisition along Coit Rd. from Dallas to Plano. We were attracted to the durable tenant mix at the shopping center combined with the significant traffic along Coit Rd., and view the property as a good long-term hold for JAH.”
JAH Realty, L.P. wholly owns and manages a shopping center portfolio of 2.6 million square feet in
Dallas-Ft. Worth and Oklahoma City, and additionally manages a 1.2 million square foot portfolio in 3 other states on behalf of TriGate Capital, an affiliated company. Park West will be the 18th acquisition for JAH in the DFW metroplex. The company has been in business for over 50 years focused on the acquisition, development, leasing, management and construction of shopping centers.
“Park West Plaza is located in a dense trade area of Plano with a traffic count of approximately 100,000 vehicles per day and average household incomes of approximately $120,000 per year. We are confident these fundamentals will translate to a high occupancy rate. JAH will announce a rebrand of the shopping center in addition to renovation plans in the months to come,” said William Rosatti, Vice President-Leasing.