Dallas-Area Retail Center Changes Hands

Marcus & Millichap arranged the sale of the recently completed property in Prosper, Texas, which was acquired in a 1031 exchange.
North Preston Village. Image via Google Street View

Marcus & Millichap has completed the sale of North Preston Village, a 14,240-square foot retail property in Prosper, Texas. First Vice President Chris Gainey and Senior Managing Director Philip Levy represented the seller. The asset was acquired by a Dallas Fort Worth-area investor in a 1031 exchange.

North Preston Village open its doors in 2018. The center is 100 percent leased to a tenant roster that includes a mix of service-oriented businesses, such as The Brass Tap, Orangetheory Fitness, PPG Paints and Creative Smiles Pediatric Dentist.

Located on a two-acre site at 790 N. Preston Road, the property is two miles north of Highway 380. The asset is within a dense retail area, which includes Kroger, Anytime Fitness, Walmart, Ross Dress for Less, Verizon, Five Below, Rack Room Shoes, Texas Roadhouse, Pizza Hut, Sonic, CVS and Bank of America, among others.

In April, Levy arranged the sale of a 5,000-square-foot medical office building, fully leased to Baylor Scott & White Institute for Rehabilitation in Farmers Branch, Texas.

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