JLL Capital Markets announced Tuesday that it has closed the sale of Bowery Park in Highland Village to Dallas-based Kobalt Investment Company.
JLL marketed the 65,477-square-foot premium suburban shopping center and office property on behalf of the seller, Boulder Peak Capital, which acquired the property last year and re-named it. Dallas-based Kobalt Investment Company acquired Bowery Park, located on 6.17 acres at 2570 Justin Road. Boulder Peak Capital still owns the apartments in the development. Terms of the sale were not disclosed.
Completed in 2018, Bowery Park is now 93.5% leased with retail and office tenants (with several new ones), including Massage Life Center, Baskin Robbins, Sip Stir Coffee House, Good Morning Donuts, Platinum Dermatology, Providence Title, Rhi and Co., Awesome Times, Preferred Pediatrics, CryoNation, Be Legend Gaming and Liquor Land, according to a news release from JLL.
Kobalt Investment Company is comprised of a team of industry leaders with more than 75 years of combined experience who have successfully closed transactions exceeding $5 billion, generating strong returns for its investors, according to the news release. Kobalt provides commercial real estate investment opportunities for institutional partners as well as high-net-worth clients, family offices and individuals.