Town Lane and Gillon Property Group (GPG) acquired Watters Creek Village, a 460,000-square-foot, grocery-anchored mixed-use destination in Allen, Texas. Charter Holdings and DuWest Realty were the sellers.
An Ares Real Estate fund provided the debt financing for the acquisition. Â
Built on 46 acres in 2008, Watters Creek Village comprises 360,000 square feet of retail space, anchored by a Market Street grocery store, and 100,000 square feet of boutique office space. Other retail tenants include Anthropologie, Barnes & Noble, Lululemon, Mi Cocina, Pure Barre, Sephora and Warby Parker.Â
Watters Creek Village is along U.S. Highway 75, which carries over 200,000 vehicles per day, offering excellent visibility and accessibility. Allen is another growing community in the North Texas region that’s been attracting retail interest, including a recent Costco. It had about 114,000 residents in July 2024, up from roughly 105,000 in April 2020 and from less than 85,000 a decade earlier, according to the U.S. Census Bureau.
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