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1320 North Preston Road

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

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:

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

Adam Howells

JLL

Broker

$30.5M

vol

17 deals

Broker

Jeffrey S. Edison

Phillips Edison & Company

Buyer

$111.9M

vol

9 deals

Buyer
Younger Partners Investments
Younger Partners InvestmentsSeller

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