5/12/2009

Marcus & Millichap facilitate sale of Texas shopping center

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A limited liability company in Texas has sold a 23,524-square-foot shopping center in Beaumont, Texas to an out-of-state buyer.

Alvin Mansour and Philip Sambazis, investment specialists in Marcus & Millichap's San Diego, Calif. office represented the seller in the transaction. Al Silva and Jason Heard of the Ft. Worth, Texas office represented the buyer.

Located at 3050 Dowlen Rd. and known as Beaumont Fountain Plaza, the property is anchored by Pei Wei Chinese Restaurant. The property was constructed in 2007 and was 100 percent leased with long-term triple-net leases with built-in increases.

Address: 3050 Dowlen Rd., Beaumont, Texas

Size: 23,524 square feet

Built: 2007

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Filed Under: Retail

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