Dunhill Partners Inc. has teamed up with Canada’s RioCan to acquire Timber Creek Crossing, a 485,000-square-foot Class A retail center at the northwest corner of Northwest Highway and Skillman Road in Dallas. The seller was Trammell Crow Co., the project’s developer.
Timber Creek Crossing is anchored by the first two-story Walmart/Sam’s in Texas and JCPenney, along Whataburger, Chick-fil-A, Sears, Verizon, Bank of America and DelTaco. Dunhill Partners will manage the property.
“We believe Timber Creek Crossing is the best new retail development to be completed this year in North Texas,” said Bill Hutchinson, president of Dunhill Partners, in a statement. “With its strong credit, superior location and diverse retailers, we are pleased to be adding this asset to our portfolio and are confident that it will continue to serve the retail needs for Dallas’ top neighborhoods.”
Trammell Crow purchased the 44-acre site in 2005 and began construction on the project in 2008. Timber Creek officially opened in August with the completion of Walmart and Sam’s Club, which share a standalone, two-story building, with a 170,000-square-foot Walmart store sitting on the top floor and a 145,000-square-foot Sam’s Club occupying the ground floor. A 104,000-square-foot JCPenney store opened in September 2011.
Jeff Kittleson with CB Richard Ellis has led the leasing efforts at Timber Creek Crossing. He also assisted in the sale, joining CBRE colleagues Chris Cozby, Chris Gerard, and Brandon Ferguson in representing Trammell Crow Co. Mike Bryant, Scott Lewis, and Matt Ballard with CBRE’s debt and equity finance group secured financing for the buyers.
