Bellomy Capital has expanded its shopping center portfolio with a purchase in Uptown.
The local, family-owned investment firm, led by managing partners Ryan Bellomy and Sean Bellomy, acquired Uptown Plaza, a 34,250-square-foot shopping center at 2222 McKinney Avenue, the Dallas Business Journal reported.
Stream Realty Partners represented Bellomy Capital in the transaction, while Jonathan Carrier of JLL represented the seller, Edens, which acquired the property’s previous owner, Houston-based AmREIT, back in 2015.
AmREIT bought the property for $24 million ($700 per square foot) in 2006, according to the website for Fifth Corner, a real estate firm founded by former AmREIT executives Chad Braun, Kerr Taylor and Tenel Tayar. Edens bought it in 2015 for $31.9 million ($931 per square foot) the website states.
The shopping center’s tenants include Wells Fargo and Potbelly Sandwich Shop. Former tenant Morton’s Steakhouse recently closed.
“We have no immediate plans for Uptown Plaza other than to be the best landlord to our tenants that we can be,” Ryan Bellomy told the outlet. “As for long-term objectives, we intend to take a thoughtful and measured approach, ensuring the property’s future aligns with the highest and best use for the neighborhood and for Dallas.”
Bellomy Capital was founded in 2014. It purchased its first asset in Uptown last year, the S&D Oyster Company building at 2701 McKinney Avenue. The Bellomy family, which also includes another brother, Beau Bellomy, owns oil and gas company Bellomy Exploration. The family bought the iconic restaurant as well as the building in October 2023, the Dallas Morning News reported. They also own Rex’s Seafood.
Stream Realty Partners will continue managing the property, while Thomas Glendenning of Shop Companies will oversee leasing.
— Andrew Terrell
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