DALLAS (February 9, 2015) –CBRE Capital Markets Investment Properties team announces the sale of Shops at Eagle Point in McKinney, Texas. An out of state investor, represented by Gary Tobias of Quine & Associates, purchased the 14-acre site, which consists of two retail centers and four pad sites, from Dallas-based developer Uptown Custer Partners LP.
Shops at Eagle Point, shadowed by Walmart at the southwest corner of North Custer Road and Highway 380, is positioned within a high-growth area of northwest McKinney. The property is 81.8 percent occupied by Subway, Leslie’s Pool Supplies, Mooyah Burgers – Fries – Shakes, Great Clips and Eagle Point Dental Care, among others.
“Shops at Eagle Point provided the new owner with excellent tenancy and lease-up potential from the existing retail centers, as well as multiple development opportunities along Custer Road. Over the years, we have seen the 380 corridor become one of the most sought after locations for investors and developers looking to stay one step ahead of the urban sprawl. Additionally, we expect this area to continue to flourish and provide numerous opportunities for the new ownership to enhance their investment,” said Cameron Deptula, Associate with CBRE.
Jennifer Pierson, Cameron Deptula and Beth Pierson, with CBRE in Dallas, represented the seller.
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