Centennial Real Estate Company, a Dallas-based shopping center owner and operator, has purchased Cross Pointe Center, located in Saginaw, Texas.
The 45,465-square-foot neighborhood center is located at Business 287 & Bailey Boswell Rd. and is adjacent to a Super Wal-mart. Constructed in 2005, the center is more than 80 percent leased with tenants including Dollar Tree, Cato, Radio Shack, Hibbitts Sports, AT&T, Cici’s Pizza, Fantastic Sam’s and Nationwide Insurance.
“Surrounded by the strong retail market of Saginaw and just seven minutes from downtown Fort Worth, Cross Pointe Center is exactly the type of neighborhood center where needs-based spending is resilient and properties perform well in all economic cycles,” said Mathew Smith, Senior Vice President of Centennial Real Estate. “We are pleased to have the opportunity to acquire a center that is leased to top quality tenants in a high-demand shopping area.”
Cross Pointe Center has great visibility and access along highway 287 and, within a five-mile radius of the center, there are 97,117 residents with an average household income of $69,190. Approximately 8,000-square-feet of space is available for lease.
The center will be managed by Centennial Real Estate Managment.