Marcus & Millichap brokers sale of La Porte Plaza retail center in Texas

Marcus & Millichap, Inc.

MMI

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Marcus & Millichap arranged the sale of La Porte Plaza, a 20,477-square-foot multi-tenant retail center in La Porte, Texas.
Property drew multiple competitive bids within 10 days of marketing; buyer was a local investor completing a 1031 exchange.
La Porte Plaza at 112 TX-146 was built in 2014 on 2.3 acres; anchored by Dollar Tree with a recently extended lease.
Center is leased on a triple-net basis; buyer cited stable cash flow, below-market rents, rental growth potential.

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