A landmark West Dallas shopping center has sold to a local investor.
A retail investment fund represented by Dallas’ Crow Holdings has purchased the Sylvan Thirty complex at Fort Worth Avenue and Sylvan.
Built in 2013, the mixed-use development was one of the first such projects in the area just west of downtown and includes a combination of shopping, restaurants and apartments on the upper floors.
The Crow Holdings retail fund purchased the shopping center from an affiliate of the original developers of the project, Oaxaca Interests.
The retail center includes more than 40,000 square feet of space.
Disney Investment Group brokered the sale.
“This asset was the last asset to round out their most recent Crow sponsored fund so it was an important, high-profile acquisition,” said Disney Investment’s David Disney.
The more than 200 apartments that sit on top of the commercial space were not part of the Crow Holdings purchase and sold in a separate transaction.
San Francisco-based Polaris Real Estate Partners acquired the Sylvan Thirty apartments from California-based investor ARC Capital Partners which had owned the rental community since 2017. Institutional Property Advisors handled the apartment sale.
Sylvan Thirty was a groundbreaking development for the West Dallas neighborhood when it was first proposed.
Since then, developers have built thousands of apartments and restaurants and retail space along Commerce Street and Fort Worth Avenue running west of downtown.
Crow Holdings is one of the Dallas area’s top property investors, with office, retail, industrial and apartment real estate.
