With the help of the company’s Cleveland and Columbus offices, Marcus & Millichap Real Estate Investment Services recently brokered the sale of Waxahachie Crossing, a 96,983-square-foot shopping center in Waxahachie, Texas.
The sales price of $15.5 million represents $159 a square foot.
Involved in the transaction were Craig Fuller, Scott Wiles and Erin Patton based out of the firm’s Cleveland and Columbus offices in Ohio. Jason Vitorino in the Dallas office of Marcus & Millichap also helped close the deal.
Waxahachie Crossing is anchored by Best Buy, Ross and PetSmart. Shadow anchors include JCPenney and Home Depot. Wal-Mart, Target, Lowe’s and Belk, along with various national restaurants, are located within the area.
Tenants have triple-net leases and pay their own taxes, insurance and common-area maintenance. Anchor tenants have recent 10-year leases. Shop tenants are on five-year original term leases.