DALLAS — JLL has arranged the sale of the Bishop Arts retail and multifamily portfolio comprising four multifamily properties (539 units) and 40,747 square feet of retail along North Bishop Avenue in Dallas’ Bishop Arts District. JLL’s Trey Morsbach, Bill Miller, Greg Toro, Adam Howells, Clint Coe, Caroline Novak and Erin Lazarus represented the seller and developer, Exxir, a real estate company owned by the Nazerian family, in the transaction. Hines was the buyer.
The retail component of the portfolio occupies about an acre at 205, 250, 275 and 308 North Bishop Ave. The buildings were built in 2018 and 2019 and are 98 percent leased. The multifamily component consists of Bishop North, Bishop Canopy, Bishop Flats and Treehaus. The average development year of the properties is 2021. The multifamily portfolio was 94 percent leased when the deal closed.