Marcus & Millichap closes sale of 9,767-square-foot retail center in Prosper

Marcus & Millichap closes sale of 9,767-square-foot retail center in Prosper

Marcus & Millichap brokered the sale of Prosper Center, a 9,767-square-foot multi-tenant retail property in Prosper, Texas. Philip Levy, Joseph Jaques, Ron Hebert and Alyssa DiFilippo, investment specialists in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the private seller. Levy, Jaques and Hebert also procured the buyer, a private investor. Prosper Center is located at 2810 W. First St. Built in 2020 on 1.16 acres, the four-suite retail center was almost 65% occupied at the time of sale and is leased entirely on triple-net terms. The tenant roster includes Parkview Dental, Peak Physical Therapy and Best Brains Learning Center, with almost half of the center leased to medical tenants. The buyer plans to continue leasing the remaining vacancy and capitalizing on the property’s value-add potential through increased occupancy and rental rate growth.