McDermott Commons
2021-2035 West McDermott Drive
Allen, TX
ALLEN, TX, July 30, 2013 – The Woodmont Company, a national
real estate firm specializing in the development, management, leasing and sale
of retail shopping centers, has completed the sale of McDermott Commons,
a 55,560-square-foot retail center located in Allen, TX to a private investment
firm.
 |
| Brad Cruickshank |
Brad Cruickshank of The Woodmont Company represented
the seller in the transaction, LNR Partners. The buyer represented itself.
Located
at the southeast corner of McDermott Drive and Custer Road at 2021-2035 West
McDermott Drive, McDermott Commons is anchored by a Jumpstreet Trampoline Park.
The sale included
the in-line retail space, two outparcels with ground leases to Taco Bell/Pizza
Hut and Wendy’s, as well as a freestanding building leased to BB&T Bank.
Built in 2001,
McDermott Commons was 73% percent occupied at the close of escrow. The Woodmont Company has been retained by
the purchaser to handle leasing at the center.
 |
| Mt. Pleasant Plaza, Mt. Peasant, TX |
The sale
of McDermott Commons comes just days after The Woodmont Company completed the
$1,075,000 sale of Mt. Pleasant Plaza, a fully occupied,
7,325-square-foot retail center located at 1401 South Jefferson in Mt.
Pleasant, TX.
Tenants include: Little Caesar’s Pizza, Carter Blood Care, Metro
PCS, Check N Go, and Diddy’s Yogurt.
Cruickshank represented the seller, Iron Point Titan Asset
Management. The buyer was a private investment group based in Denton, Texas who
was represented by Blake Martin of Quest Commercial Realty.
For a complete copy of the company’s news release, please
contact:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
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