Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of McKinney Shopping Center, a 15,127-square foot retail property located in McKinney, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.

Philip Levy, an investment specialist in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Levy.

“We were able to transact amidst the Covid-19 pandemic. Not all tenants were paying full rent, but using the Marcus & Millichap platform, we were able to find a buyer who could see the return in the deal” commented Levy.

McKinney Shopping Center is located at 2775 S Central Expressway in McKinney, Texas. The complementary, internet-resistant tenant base is a mix of national and local credit tenants including Mattress Firm, Charles Schwab, Enterprise, Tri-Force Fitness, Thai Noodle Wave, and the Texas National Guard.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.