Brixton Capital acquired Oak Grove Plaza, a 120,552-square-foot, grocery-anchored shopping center in Sachse, just outside Dallas. Brixton acquired the property from Nuveen for an undisclosed sum.Â
Located at 5190-5250 Highway 78 in Sachse, Texas, Oak Grove Plaza includes two in-line buildings and a Kroger gas pad on 15 acres. The Class A property is anchored by Kroger, which has operated on-site for 23 years.
Other tenants include Wingstop, Subway, Domino’s Pizza and Kumon, along with a roster of daily-needs services and medical providers such as Baylor Scott & White Primary Care, Oak Tree Dental, Athletico Physical Therapy, The UPS Store and more.
With the acquisition, Brixton has the opportunity to build out an additional pad on the property. Doing so would increase net operating income against a basis already established at acquisition, even without relying on rent growth.
Jim Batjer and Harrison Tye of CBRE represented Nuveen and Brixton Capital in this transaction. Michael Cosby and Tom Burns of CBRE arranged financing on behalf of Brixton.Â
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