Cherry Lane Commons | 1701 S. Cherry Lane Fort Worth, Texas
10 Federal has acquired a 105,182-square-foot shopping center in Fort Worth, Texas, expanding its commercial real estate portfolio with its second retail acquisition in September.
The property, Cherry Lane Commons, is located at 1701 S. Cherry Lane on nearly 11 acres in west Fort Worth’s Westgate Addition submarket. The center is anchored by Academy Sports + Outdoors and The Picklr, giving 10 Federal a retail asset supported by established tenants in a growing Tarrant County market.
The acquisition follows 10 Federal’s Sept. 2 purchase of Burlington Commons, formerly known as Eric Lane Shopping Center, in Burlington, North Carolina. The two transactions reflect the company’s expansion beyond its core self-storage business and into complementary commercial real estate investments.
For 10 Federal, the Fort Worth purchase also builds on an existing operating footprint in Tarrant County. The company already operates seven self-storage facilities across communities including Arlington, Lake Worth, Keller, North Richland Hills and Azle.
That local presence gives the company exposure to a market that has experienced significant population growth in recent years. Tarrant County has ranked among the fastest-growing counties in the U.S., according to USAFacts, providing a demographic backdrop for continued demand across retail and other commercial property types.
“Fort Worth is one of the most compelling growth markets in the country, and we believe this submarket has meaningful untapped potential,” said Ian Levin, vice president of investments at 10 Federal. “Population growth, income growth and economic activity across Tarrant County are driving demand for well-located, necessity-oriented retail, and this center gives us a durable anchor base in a trade area with strong long-term fundamentals.”
The investment adds a sizable retail property to 10 Federal’s holdings while extending the company’s real estate strategy beyond a single asset class. The presence of Academy Sports + Outdoors and The Picklr provides the center with anchor tenants serving consumer recreation, sporting goods and activity-oriented demand.
The acquisition also illustrates how 10 Federal is using markets where it already has operating experience as potential platforms for broader real estate investment. Its seven existing Tarrant County self-storage locations give the company an established presence across several communities surrounding Fort Worth as it adds retail exposure in the region.
Self-storage remains the primary operating platform for 10 Federal. The company said it currently operates 132 self-storage properties across 15 states through a technology-enabled management platform, using automation, artificial intelligence and data analytics as part of its operating model.
The Fort Worth and Burlington transactions, however, show the company deploying capital into additional commercial property types where it sees favorable market fundamentals and opportunities for growth. The strategy provides another avenue for expanding its real estate portfolio while drawing on its existing experience in property operations and technology-based management.
With Cherry Lane Commons, 10 Federal gains a more than 100,000-square-foot retail asset in a major Texas growth market while deepening its investment presence in Tarrant County. The transaction adds to the company’s September acquisition activity and advances its move into commercial real estate opportunities beyond self-storage.