Marcus & Millichap negotiated the sale of a 7,295-square-foot multi-tenant retail property occupied by Verizon, UPS, Jersey Mike’s and Fuzzy’s Taco Shop in Anna, Texas.
Chris Gainey and Philip Levy, in Marcus & Millichap’s Fort Worth & Dallas offices respectively, represented the buyer, a Dallas-area private partnership.
The acquisition was completed as part of a 1031 exchange in an all-cash transaction, in less than 45 days from the opening of Escrow The buyer was moving equity out of an alternative property type, into NNN retail properties in high-growth areas of DFW.
Located at 409 Central Expy S., the four-suite retail center was built in 2021 on approximately 1.11 acres in one of North Texas’ fastest-growing suburban corridors, and shadow-anchored by a Walmart. The asset was acquired as part of a two-property portfolio that included an adjacent shopping center.
