Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of College Plaza, a 6,590-square foot retail property located in Arlington, Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
Philip Levy, Senior Managing Director Investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured by Chris Gainey, Senior Associate, Mr. Levy and Juan Cuevas, Senior Associate in Marcus & Millichap’s Dallas, Fort Worth and Houston offices.
College Plaza is located at 1302 S Cooper Street in Arlington, Texas. The subject property is located on South Cooper Street and is a major north/south thoroughfare between Interstate 20 and Interstate 30. The property is just south of The University of Texas at Arlington, with a population of approximately 37,000 students and 2,165 staff and faculty members and is the second largest institution within the University of Texas system. Arlington High School is less than half of a mile south of the property. Neighboring national and regional retailers include TitleMax, Texaco, MetroPCS, Potbelly Sandwich Shop, Taco Bell, Starbucks, Walgreens, Pizza Hut, Jefferson Dental Clinic, Subway, Chicken Express and others. The area is densely populated, with over 293,500 residents within five miles of the property having an average household income of $64,132.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com