“Uptown Plaza Acquired by Bellomy”

"Uptown Plaza Acquired by Bellomy"

Bellomy Capital has acquired Uptown Plaza, located on McKinney Avenue in Dallas. The previous owner was AmREIT, who had obtained the center in 2006. Since then, AmREIT has been bought by Edens.

According to reports from the Dallas Business Journal, the shopping center spans 34,250 square feet and was recently appraised for tax purposes at $21.5 million.

Currently, Uptown Plaza is occupied by tenants such as Wells Fargo and Potbelly Sandwich Shop with a leasing rate of 64%. However,Morton’s Steak House recently vacated their space and it is uncertain what will happen to that area. Bellomy Capital was represented by Stream Realty Partners in this transaction while Jonathan Carrier of JLL arranged it.

Established in 2014,Bellomy Capital serves as an investment branch of the Bellomy family businesses.Upon purchasing S&D Oyster Company’s building about fifteen months ago,a bit further up McKinney from Uptown Plaza,the firm made its first entry into Uptown territory.

Stream Realty Partners will oversee management duties for the shopping center while SHOP Cos.’s Thomas Glendenning will handle leasing responsibilities.

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