2GR Equity And SHOP Development Acquire 177,000 SF Promenade North Shopping Center In Richardson

The 177,000-square-foot Promenade North Shopping Center in Richardson, a suburb of Dallas, has been sold to local firms 2GR Equity and SHOP Development. The center, which was 70% leased at the time of the transaction, features tenants such as Verizon Wireless and WingStop. The new owners plan to enhance the property with improvements such as landscape upgrades, new paint, LED lighting, and signage enhancements.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: Not disclosed
• Address: 670 North Coit Road, Richardson
• Market: Richardson
• Buyer: Isaac Gregory - 2GR Equity; David Sacher - SHOP Development

Isaac Gregory of 2GR Equity and David Sacher of SHOP Development were the key individuals involved in the purchase of the Promenade North Shopping Center in Richardson. These local firms have a vision to enhance the center's appeal and tenant experience through various improvements. The transaction signifies the confidence in the Richardson market and the potential for growth in the retail sector.