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 Sunrise Plaza, a 35,792-square foot retail property located in Brownsville, 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 developer.
Sunrise Plaza is a 35,792-square foot multi-tenant retail center located at 2451 Pablo Kisel Boulevard in Brownsville, Texas. The center is currently 100 percent occupied, and all leases are triple-net. The building was constructed in 2002 and sits on 2.9 acres of land.
The subject property is a mix of local and national tenants, with 51 percent of the income derived from national credit tenants. Major tenants include Mattress Firm, Gracie Barra Brazilian Jiu-Jitsu, Leslie’s Poolmart, Nutrishop, America’s Best Eyeglass and Shenanigan’s Irish Pub.
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