Younger Partners Investments (YPI) recently acquired 380 Towne Crossing, a retail center spanning 137,287 square feet in McKinney. The seller of the property was Weber & Co., and this transaction was part of a larger two-property portfolio deal.
The retail center, which was constructed in 2007, is situated at the intersection of U.S. Route 75 and State Highway 380. It boasts an impressive occupancy rate of 98.2%, with notable tenants such as FedEx Office, Buffalo Wild Wings, Leslie’s Pool Supplies, Cook Children’s Pediatrics and Sleep Experts occupying its space. Additionally,a vacant freestanding area measuring approximately12 ,000 square feet that previously housed Party City is also included in the acquisition deal for McKinney.The overall portfolio purchase encompasses nearly290 ,000 square feet.
In addition to acquiring the McKinney property,YPI also made their first venture into East Texas by purchasing Longview Towne Crossing.This second acquisition spans150 ,775squarefeetand has an occupancy rateof95 .6%. PetSmart,Five Below,and Old Navy are amongthe anchor tenantsat this location.
This news comes from Connect CRE,the leading source for commercial real estate news nationwide.
