JLL Capital Markets arranged the sale of Preston Stonebrook, a 53,553-square-foot retail center in Frisco, Texas.
JLL worked on behalf of the seller, Venture Investment Partners. Their team of seasoned real estate experts, led by Bo Brownlee and Easley Waggoner, Jr., creates significant value through strategic improvements and enhancements, leveraging extensive industry knowledge to maximize investment returns.
Built in 1997, the 93%-leased Preston Stonebrook features a strong tenant mix with key retailers including Plato’s Closet, Emler Swim School, Dogtopia and Horizon Hot Yoga. The property has demonstrated impressive leasing momentum with over 24,000 square feet of recent leasing activity and tenants averaging 10.6 years of tenure.
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.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Adam Howells and Director Erin Lazarus.
