A freestanding retail building located in Dallas, acquired and successfully stabilized due to local brokerage expertise and relationships.
An incredibly well-positioned asset along Addison’s highly coveted Belt Line Road; home to Whole Foods, Warby Parker, Shake Shack, sweetgreen and many more national tenants, all within a half-mile stretch. With very few freestanding assets in this pocket, 90Ten was presented a very rare opportunity. Given its proximity to the urban core and the area’s vibrant growth, 90Ten moved forward with the acquisition.
After successfully negotiating a buyout with the tenant in-place, 90Ten remerchandised the asset and enhanced NOI with a new, national-credit tenant. Leveraging our strong brokerage relationships, we successfully executed a lease agreement with First Watch (NASDAQ: FWRG), prior to closing. First Watch is scheduled to open for business in Q4 of 2024.
• 5353 Belt Line Road outlines 90Ten's business model: Allowing brokerage partners to participate more meaningfully alongside our investments will create for more successful outcomes for all parties involved. Brokers contribute the same amount of value, but co-GP and LP opportunities multiply their earning potential.
• 90Ten allowed our local Dallas brokerage partners to participate and invest significantly in the LP.
• Due to the alignment between the general partnership and the brokerage community, we walked into closing with a fully executed lease with a publicly traded company, significantly de-risking the investment.
• First Watch was able to work with a sophisticated landlord and capture premier real estate in one of Dallas’s most coveted trade areas.
• Investors in the LP benefit from the alignment of a successful outcome for all parties involved and maximize their potential for an exceptional return.