DHA Sells West Dallas Lakewest Shopping Center
DALLAS, TX, June 28, 2019 /24-7PressRelease/ — The Allan Bailey Group LLC (ABG) recently completed the sale of the historic Lakewest Shopping Center. The seven-building neighborhood center is located in West Dallas at the intersection of Hampton Road and Singleton Boulevard. The transaction represented the single largest opportunity zone sale in Dallas since the 2017 tax reform bill was passed.
ABG represented the seller, Lakewest Revitalization Foundation, Inc, an affiliate of DHA, Housing Solutions for North Texas. The historic 155,000 square foot property sits on 14 acres of land just blocks away from the booming Trinity Grove area, a thriving retail, restaurant and artist district slated for further development.
Tim Lott, vice president of Capital Programs for DHA said, “Working with the Allan Bailey Group over the last year to sell the Lakewest Shopping Center has been a positive experience. John has shown his dedication to his craft and his clients through his tenacity in getting the deal done. This was the beginning of a long and fruitful relationship.”
DHA will be investing the proceeds from this transaction to continue providing quality affordable housing and access to supportive resources across North Texas.
“As a life-long resident of southern Dallas and proud member of the community in which DHA serves, this was especially gratifying to me for ABG to represent DHA in this sale,” said John Bailey, president and CEO of the Allan Bailey Group, LLC. “We truly value establishing long-term, mutually beneficial relationships with our clients and strive to develop strategic solutions to make their disposition, leasing and acquisitions easier. We look forward to many more meaningful and successful transactions with DHA,” said Bailey.
Lakewest is the largest retail shopping center in West Dallas. It was purchased by DuWest Realty represented by Corey Duhan and Jordan Cluff.
The Allan Bailey Group, LLC. (ABG) is a commercial real estate firm assisting public and private entities enhance the financial performance of their real estate portfolios. ABG provides a full suite of commercial real estate brokerage, investment, development, and consulting services. Headquartered in Dallas, Texas, ABG works with clients across the country and has been recognized as Broker of the Year and news and media publications as a leading firm dedicated to exceeding client expectations. For further information visit http://www.allanbaileygroup.com or call 214.253.2688.
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