Marcus & Millichap Lends a Hand in Texas

The asset comprises a mix of retail and medical office space and was 85 percent occupied at the time of sale.

by Csilla Borsos

Shops of Eldorado I & II, Frisco, Texas
Shops of Eldorado I & II, Frisco, Texas

Dallas—Marcus & Millichap has announced the sale of a roughly 36,500-square-foot retail property in Frisco, Texas, according to Kyle Palmer, regional manager of the company’s Forth Worth office.

Phillip Levy, senior director at Marcus & Millichap’s DFW department, arranged the sale on behalf of the seller, a developer, and secured the buyer, a private investor.

Shops of Eldorado I & II is a multi-tenant neighbourhood retail shopping center located at 12398 & 12399 FM 423. The asset is 85 percent occupied by retailers such as PetSense, Bella Nails or Love Sushi, and medical offices, including Dr. Castano-Rendon Orthodontics, Dr. Davis’ Pediatric Dentistry or Dr. Reddy’s Children’s Clinic.

The currently occupied spaces are triple-net-leased and 55 percent of them have personal guaranties. Sitting on 3.73 acres, the properties were completed in 2007.

Neighbors include a Walmart Supercenter, GameStop, Wendy’s, Wells Fargo, McDonald’s, 24 Hour Fitness and T-Mobile, among others.

Image courtesy of The Weitzman Group