Watters Creek

JLL Arranges Sale of 458,091-Square-Foot Mixed-Use Center in Metro Dallas

by Julia Sanders

Allen, Texas — JLL Capital Markets has arranged the sale of Watters Creek at Montgomery Farm, a 458,091-square-foot mixed-use property in Allen, about 26 miles from Dallas. Chris Gerard, Ryan Shore, Greyson Fewin and Pauli Kerr of JLL represented the seller, a partnership between PCCP LLC and Trademark Property Co. John Brownlee, Clint Coe, Jack Rohrman and Chad Lisbeth of JLL secured acquisition financing on behalf of the buyer, a partnership comprising Charter Holdings and DuWest Realty. The floating-rate, non-recourse loan was secured through Washington Federal Bank and Texas Capital Bank and features a five-year term. Completed in 2008, the 46-acre retail and office development is part of Waters Creek, a 1.1-million-square-foot live-work-play district that includes multifamily, office and hotel space. The property was 87 percent leased at the time of sale to 61 retail and restaurant tenants, including the P.F. Chang’s, Victoria’s Secret, MiCocina, Sephora, Pure Barre, Kendra Scott, Bath and Body Works, Massage Heights, The Blue Fish, Panera Bread, F45, Anthropologie and The Cheesecake Factory.

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