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Case Study Triangle Center

Case Study | Triangle Center

Deal Highlights

  • Partners Fund III acquired Triangle Center off-market in November 2019 at 40% occupied - including a vacant tract of land with I-35 frontage.
  • Negotiated a build-to-suit with Starbucks for a new drive thru location in front of the shopping center. Starbucks sold at a 4% cap rate.
  • Occupancy pushed to over 95% by executing leases with a strong tenant base.
  • Upon achieving stabilization, property was listed, and a qualified buyer was identified in California.
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