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Richardson, Texas — Marcus & Millichap has negotiated the sale of Baybury Square Shopping Center, a 51,542-square-foot retail portfolio located in Richardson, about 14 miles north of downtown Dallas. Built in 1966, the portfolio includes two multi-tenant shopping centers and two freestanding buildings situated on nearly 11 acres. The property was approximately 64 percent leased at the time of sale.
Philip Levy and Scott Abeel of Marcus & Millichap marketed the property on behalf of the seller, an out-of-state private investor, and procured the buyer, a local real estate developer. The buyer plans to reposition the portfolio by leasing vacant space, enhancing the tenant mix and evaluating future redevelopment opportunities.