Phillips Edison & Company Acquires 100% Leased Retail Center In Prosper Texas From Younger Partners Investments

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.