EULESS (DFW), TEXAS, May 17, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Arbor Creek, a 12,652-square foot retail property located in Euless (DFW), Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
Philip Levy, Senior Director and Chris Gainey, Senior Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a developer, was also secured by Mr. Levy and Mr. Gainey.
Arbor Creek is a 12,652-square foot multi-tenant retail center located in the heart of Euless, Texas. The building was constructed in 2005 and sits on 1.084 acres. The center is currently 88 percent occupied, providing upside potential. All leases are triple-net, and tenants include T-Mobile Limited, Little Caesar’s Pizza, Check ‘N Go and Euless Swiftcare.
The property is anchored by Albertson’s, which completed a major store remodeling in 2014. Other neighboring retailers include Kroger, 99 Cent Only Store, Church’s Chicken, AutoZone, Domino’s Pizza, Shell, Subway, Wing Stop, Metro PCS, H&R Block and Ace Cash Express.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com