Harkinson Investment Corporation is pleased to announce our acquisition of Bosque River Centre, a 220,000-SF shopping center west of Fort Worth. Bosque is 98% leased, with two-thirds of tenants being national or regional credit. The center has been an integral part of Stephenville’s retail mix for decades and remains well positioned to continue serving the community due to its excellent location, ample parking, and affordable rents.
Known as the “Cowboy Capital of the World,” Stephenville draws from a combined rural/urban trade area of 120,000 people. The surrounding Erath County ranks third in milk production in Texas, which itself is poised to overtake Idaho as the no. 3 producing dairy state. Dairy products manufacturer Shreiber Foods recently announced a $45 million expansion of their Stephenville facility. The town also benefits from the presence of Tarleton State University, part of the Texas A&M system and the fastest-growing university in Texas and the fourth fastest growing nationally, with an enrollment of more than 16,000 students and $500 million in new investments underway this year. Next year Tarleton will open a new $80 million health professions building and launch three new health degree programs.
Befitting a shopping center in the Cowboy Capital, Bosque River Centre is home to the no. 2 best-performing Tractor Supply store out of 234 locations in Texas, according to customer visits tracked by Placer.ai. Other national credit tenants include CiCi’s Pizza, Dollar Tree, Hibbett Sports, Boot Barn, Ollie’s, Cinemark, and Planet Fitness.
Harkinson Dewan Commercial will oversee property management and leasing for Bosque River Centre and Harkinson Development will explore value-add pad site opportunities. Our partnership intends to refresh the property with new paint, parking lot upgrades, and needed repairs.
HIC is grateful for the support of our transaction partners, including lender EECU, loan broker Northmarq, Joshua Quinn at Madison Title, and seller’s agent David Disney. We look forward to improving and managing this vital shopping center for the benefit of the people of Stephenville.
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