Town Lane, Gillon Acquire 460K-SF Allen Retail Center

Town Lane and Gillon Property Group (GPG) acquired Watters Creek Village, a 460,000-square-foot, grocery-anchored mixed-use vacation spot in Allen, Texas. Charter Holdings and DuWest Realty have been the sellers.

An Ares Real Estate fund supplied the debt financing for the acquisition.

Built on 46 acres in 2008, Watters Creek Village includes 360,000 sq. toes of retail house, anchored by a Market Street grocery retailer, and 100,000 sq. toes of boutique workplace house. Other retail tenants embody Anthropologie, Barnes & Noble, Lululemon, Mi Cocina, Pure Barre, Sephora and Warby Parker.

Watters Creek Village is alongside US Highway 75, which carries over 200,000 autos per day, providing wonderful visibility and accessibility. Allen is one other rising neighborhood within the North Texas area that is been attracting retail curiosity, together with a current Costco. It had about 114,000 residents in July 2024, up from roughly 105,000 in April 2020 and from lower than 85,000 a decade earlier, in response to the US Census Bureau.