Plano, Texas – More than 20 percent of the tenants have been located at Towne Square Shopping Center for more than 10 years.
CBRE Capital Markets' Retail Investment Properties has sold Towne Square Shopping Center in Plano, Texas. Dallas-based Norman J. Hoppenstein purchased the 151,982-square-foot retail center from an undisclosed seller. The value-add investment is 53 percent occupied by national and regional tenants, including Dollar General, Rent-a-Center, Inwood National Bank and Shipley Do-Nuts. More than 20 percent of the tenants have been located at the center for more than 10 years. Jennifer Pierson, Beth Pierson and Cameron Deptula, with CBRE in Dallas, represented the seller.
— Scott Reid