Murphy, Richardson, Plano and surrounding communities real estate information, sales, investing, and community information.
Tuesday, July 5, 2016
Murphy Marketplace Under New Ownership!
Real Estate Editor Steve Brown at the Dallas Morning News reports that An Ohio-based real estate investment company has purchased a major shopping center in Collin County. Phillips Edison Grocery Center REIT I Inc. said that it has bought the Murphy Marketplace, a 218,598 square foot retail center located just east of Plano in the Collin County town of Murphy. Built by Dallas' Langford Property Co. starting in 2007, the 48-acre retail center is anchored by... [Lowes,] Michaels, 24 Hour Fitness, [En Fuego cigar lounge,] and Tuesday Morning stores.
The retail buildings are constructed around a series of small parks and landscaped pedestrian trails. New owner Phillips Edison Grocery Center REIT I of Cincinnati owns and manages 149 shopping centers totaling approximately 15.9 million square feet.
Terms of the North Texas purchase were not disclosed.