SRS Real Estate Partners brokered the sale of Independence Plaza, a 14,966-square-foot multi-tenant retail property at 5266 Independence Parkway in Frisco, Texas.
Built in 2018 and situated on 1.86 acres, the property is fully occupied by seven food and service-based tenants.
SRS Capital Markets Vice President Michael Kaplan represented the seller, a family office who developed the property. The buyer was a Texas-based private investor.
The property is located off of Sam Rayburn Tollway which averages 94,000 vehicles passing by per day and is at the center of a primary retail corridor with nearby tenants including Target, Lowe’s, Ross, and Kroger, among others. There are approximately 362,000 residents and 134,000 employees within a five-mile radius.
This is the fourth property the SRS team has closed in the DFW area within the past three weeks. The other assets included Shops on Main in Midlothian, a multi-tenant retail property; and North Grove Center I, a multi-tenant retail and office asset, as well as North Grove Center II, a single-tenant restaurant property in Waxahachie.
