PlaceMKR Purchases Retail Portfolio In Pharr, New Braunfels, And Grand Prairie For $31.85M

This transaction involves a five-property single-tenant retail portfolio, encompassing a total of 534,000 square feet. The properties are located at 1600 West Kelly Avenue, 642 South Walnut Avenue, 2650 West Interstate 20, 15065 Creosote Road, and 2244 South Reynolds Road, situated across Pharr, New Braunfels, and Grand Prairie in Texas; Gulfport in Mississippi; and Toledo in Ohio. The retail portfolio was acquired for $31.85 million, translating to a price per square foot of $60.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $31,850,000
• Square Footage: 534,000
• Price Per Square Foot: $60
• Buyer: Christopher Cortese & Jesse Weber - PlaceMKR
• Seller: LCN Capital Partners
• Broker Representatives: Bryn Feller & Josh Dicker - NorthMarq

The acquisition by PlaceMKR marks an expansion beyond Texas into Mississippi and Ohio, with the strategy focusing on obtaining value through long-term triple-net leases and development opportunities on outparcels. The brokers involved in this transaction were Bryn Feller and Josh Dicker from NorthMarq, who represented the deal.