Prairie Creek Shopping Center purchase
Structure Commercial partnered with MDT Investments in the purchase of Prairie Creek Village Shopping Center, a 101,741 SF multi-tenant neighborhood center located at the NW corner of West 15th street and Independence Parkway in Plano, Texas. Jeremy Cummings and Eric Deuillet of Structure Commercial brokered the deal with Sean Byrne of the Byrne Company, who represented the seller.The center has a very good tenant mix with destination, convenience, and service tenants. Just north of George Bush and just west of Central Expressway gives it great access and sits in a very densely populated area with very solid demographics. The major developments of the State Farm complex and multiple residential developments surrounding it, help make this retail redevelopment a very solid investment. The 2 groups partnered to purchase the center across the street, Cloister Square, just over a year ago and took it from 65% occupied to 97% and it is a flourishing center now. They hope to do the same here.