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 North Star Crossing Shopping Center, a 67,509-square foot retail property located in Garland, Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.

Lisa Estrada, Senior Associate 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 was in a 1031 exchange and was represented by an outside brokerage firm. The value-add opportunity closed at an eight percent cap rate.

North Star Crossing Shopping Center is located at 1130-1332 Belt Line Road. The subject property was built in 1985, is 82 percent occupied and located at the signalized intersection of North Garland Avenue in Garland Texas. The subject property has great access from both streets, with a total of six entrances including two signalized locations. The property consists of three separate buildings each with new roofs and 15 year transferrable warranties.

About Marcus & Millichap (NYSE: MMI)

With over 1,600 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 8,700 transactions in 2015 with a value of approximately $37.8 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