Venture Investment Partners acquires Preston Stonebrook in Frisco
May 26, 2015
Venture Commercial Real Estate today announced that its newly formed investment group Venture Investment Partners has completed the acquisition of Preston Stonebrook, a 58,594 square foot specialty center located on the southwest corner of Preston Road and Stonebrook Parkway in Frisco.
The deal marks the second acquisition by Venture Investment Partners, an investment platform that leverages Venture’s strengths in retail leasing, property management and asset management.
Bo Brownlee and Easley Waggoner, Jr. will lead Venture Investment Partners, in conjunction with the partners and principals of Venture Commercial. The group’s prior acquisition was the Hulen Fashion Center, a 181,620 square foot specialty center in Fort Worth.
“Our goal at Venture Investment Partners is to maximize value for investors by capitalizing on the talent that already exists here at Venture Commercial,” said Brownlee, who recently joined Venture as Principal of the new entity. “The acquisitions of Preston Stonebrook and Hulen Fashion Center are the first of many more to come throughout DFW and the state of Texas.”
Brownlee and Waggoner, Jr. represented Venture Investment Partners in the Preston Stonebrook transaction. JLL represented the seller, Dunhill Partners. Venture will handle leasing and management for the center, which is currently 100% leased. Tenants include Hallmark, Le Peep, PrimaCare, Republic Title and Taco Bell.
About Venture Commercial
Venture Commercial Real Estate, celebrating 15 years, is recognized as a leader in retail brokerage services throughout Texas for its dedication to each client’s success. The company’s full-service real estate platform includes landlord and tenant representation, property management, land sales, disposition and income property sales. Venture also provides strategic market planning and site selection for restaurant and entertainment clients through its Venturetainment team. Venture is the D-FW partner of X Team International, a network of retail real estate advisors with expertise across the U.S., Canada and Europe. For more information visit venturedfw.com.