Town Lane, a New York-based real estate investment manager, and Gillon Property Group (GPG) have announced the acquisition of Watters Creek Village, a 460,000-square-foot, grocery-anchored, mixed-use property located in Allen, Texas. The acquisition marks a new chapter for the center, reinforcing its role as a dominant retail and community hub within the rapidly growing north Dallas corridor. An Ares Real Estate fund provided the debt financing for the acquisition.
Watters Creek Village is positioned along U.S. Highway 75, which carries more than 200,000 vehicles per day, offering excellent visibility and accessibility. The 46-acre property features approximately 360,000 square feet of retail anchored by grocer Market Street, an upscale concept operated by The United Family (Albertsons), and approximately 100,000 square feet of boutique office space.
“Town Lane is excited to expand its investments in the retail sector through the acquisition of Watters Creek Village,
