A retail strip center in Richardson, a suburb northeast of Dallas, has been acquired by Bridgeway Properties, a company based in San Francisco. The property, known as Campbell Junction, is located at 2000-2010 North Plano Road and covers 43,000 square feet across three buildings. It consists of 19 suites and sits on 4.4 acres of land, including a 0.7-acre pad that could be developed further.
The previous owner was Xiaogang Fan, a real estate agent from Richardson. The sale was brokered by Marcus & Millichap, but the price was not disclosed. Campbell Junction is fully leased and includes tenants such as Subway and My Eye Doctor.
Philip Levy of Marcus & Millichap said in the press release that the property “may be a candidate for partial redevelopment or mixed-use conversion.” He was responsible for marketing the listing.
Retail real estate in Dallas-Fort Worth has become increasingly attractive to investors due to limited new development over the past decade and high rental rates. According to Partners Real Estate, average retail rents in Dallas-Fort Worth have risen from $19.78 per square foot last year to $20.28 per square foot now (https://www.partnersrealestate.com/). Vacancy rates remain steady at 4.8 percent.
The region’s retail market has shown resilience despite closures of major retailers like Party City and Tuesday Morning. Available spaces have quickly been filled by businesses offering experiential services such as fitness centers and pickleball facilities.
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