WICHITA FALLS, TEXAS, January 17, 2017 – 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 Colonial Plaza, a 18,695-square foot retail property located in Wichita Falls, Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
Philip Levy, First Vice President Investments 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 partnership. The buyer, a private investor, was also secured by Mr. Levy and Mr. Gainey
Colonial Plaza is a 18,695-square foot multi-tenant retail center located at 4018-4036 Kemp Boulevard, a dense retail corridor in Wichita Falls, Texas. The center is currently 94 percent occupied and all leases are triple-net. The buildings were constructed in 1983 and are situated on two land parcels totaling 1.4 acres. Major tenants consist of Panda Chinese Restaurant, Athena Roofing, First Acceptance Insurance, Red Wing Shoe Store, Star Nails, Texas Driving School and Scarlet Fox Boutique.
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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