Preston Stonebrook, a 53,553-square-foot retail center in Frisco, has changed hands.
Adam Howells and Erin Lazarus led JLL Capital Market’s Investment Sales and Advisory team, representing Venture Investment Partners, the seller. Howells added, “With rents currently below market and strong demographics in the trade area, this asset offers significant upside potential for the new ownership.”
Situated at 7151-7227 Preston Rd., the property serves an affluent customer base with average household incomes of $158,247 within a three-mile radius and a population of over 98,800 residents. The center benefits from its strategic location along Preston Road, the spine of Dallas’s northern growth corridor, and draws from a daytime population of 120,000 within three miles.
Built in 1997, the 93%-leased Preston Stonebrook features a strong tenant mix with key retailers including Hallmark, Plato’s Closet, Emler Swim School, Dogtopia and Horizon Hot Yoga. Venture has owned the property since 2015.
The post Venture Investment Partners Sells 53K-SF Frisco Retail Center appeared first on Connect CRE.
