Phillips Edison & Company Acquires 100% Leased Retail Center In Prosper Texas From Younger Partners Investments
1320 North Preston Road
Building Size
86,698 SF
Asset Type
Retail
Closing
Jul 14, 2026
AI
The asset involved in this transaction is an 86,698-square-foot retail center located at 1320 North Preston Road, Prosper, TX. The property is anchored by Kroger and was sold by Younger Partners Investments to Phillips Edison & Company. The property was 100% leased at the time of the sale, demonstrating a strong demand for grocery-anchored retail assets in the North Texas market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 1320 North Preston Road
- Market: Prosper, TX
- Buyer: Jeffrey S. Edison - Phillips Edison & Company
- Seller: Younger Partners Investments
- Brokers: Adam Howells & Erin Myer - JLL
This transaction highlights the continued interest from investors in grocery-anchored retail spaces. The property, known as Shops at Prosper Trail, reached full occupancy under the ownership of Younger Partners Investments, indicating effective property management and appeal in a competitive market.
Players
Prosper Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93