Avison Young brokers sale of class A retail center in Frisco, TX

aerial photo of shops at the gate retail center in frisco texas March 5, 2024

Dallas, TX – Avison Young has brokered the sale of Shops at The Gate in Frisco, a 16,000 square-foot, class A retail center built in 2021. Located on 1.93 acres, the property consists of two buildings located at 6560 John Hickman Parkway and 4606 Frisco Green Avenue in Frisco, TX. Both buildings are 100% occupied including tenants such as Modern Skin Med Spa, On the Marquee, Christie’s, and various food service establishments.

The seller, a middle east-based investment group, was represented by Avison Young Principals Mike Kennedy and Darrell L. Betts, CCIM.

“Located just north of the Dallas Cowboy’s Star mixed-use development, this property is key to Frisco's continued meteoric growth, including the new Universal Studios development, numerous corporate relocations, and an influx of highly educated, high-income residents,” stated Kennedy.

”Our Dallas and Houston Avison Young teams worked with the seller to illustrate the huge upside of this retail center, with more than one million square feet of office and commercial development slated for the adjacent Dallas North Tollway frontage,” stated Betts.

The commercial frontage parcels were transacted by the same Avison Young same team in 2023.

The buyer was 3 Pillars Equity, a Frisco-based investment group.

“We are excited to acquire this trophy-class retail development,” said Neeraj Jain, co-founder of 3 Pillars Equity.

“This acquisition adds to our growing portfolio of commercial property investments and fits well with our strategy of maximizing long-term value for our investors,” added Yegnesh Ragi, co-founder.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.

For more information:

  • Download property photo here.

Media contact:

  • Darcie Giacchetto, Media Relations & Content Specialist, Southwest: +1.949.278.6224

 

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