CBRE arranges Plano retail center sale

Dallas --CBRE Capital Markets’ Retail Investment Properties team announced the sale of Towne Square Shopping Center in Plano, Texas. Dallas-based Norman J. Hoppenstein purchased the retail center from an undisclosed seller.



Towne Square is a 151,982-sq.-ft. neighborhood shopping center. The value-add investment is 53% occupied by national and regional tenants, including Dollar General, Rent-a-Center, Inwood National Bank and Shipley Do-Nuts.



“Town Square offers stability and upside—21% of the tenants have enjoyed strong businesses at the property for more than 10 years; however it was only 53.1% occupied at the time of sale,” said Jennifer Pierson, senior VP with CBRE.