Younger Partners Investments Acquires Retail Properties In McKinney And Longview From Weber & Company

The transaction involves the sale of two retail properties with a combined square footage of 288,063 located at 2014 West University Drive in McKinney and 3092 North Eastman Road in Longview. These properties are situated in the McKinney and Longview markets. The centers, built in 2007 and 2008, are characterized by a high occupancy rate, with 98.2% for 380 Towne Crossing and 95.6% for Longview Towne Crossing. They feature a diverse tenant mix and are shadow-anchored by major retailers, enhancing their appeal in the retail market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not disclosed
• Buyer: Younger Partners Investments
• Seller: Weber & Company
• Broker Representatives: Micah Ashford, Moody Younger & Kathy Permenter - Younger Partners
• Occupancy Rate: 98.2% for 380 Towne Crossing and 95.6% for Longview Towne Crossing
• Notable Tenants: FedEx Office, Buffalo Wild Wings, Leslie’s Pool, Cook Children’s Pediatrics, Storming Crab, Jimmy John’s, Sleep Experts, PetSmart, Five Below, Old Navy
• Shadow Anchors: Super Target, Lowe’s Home Improvement, Target, Kohl’s
• Market: McKinney & Longview

The deal was facilitated by broker representatives Micah Ashford, Moody Younger, and Kathy Permenter of Younger Partners, who outlined the strategic significance of the acquisition for Younger Partners Investments. The transaction expands their retail portfolio to over 1 million square feet and strengthens their position in North Texas while entering the East Texas market. The Managing Directors highlighted the potential for value enhancement, particularly in light of recent market dynamics affecting specific tenants.