Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Plaza Viejo Shopping Center, a 17,900-square foot retail property located in Brownsville, Texas.

Philip Levy, senior managing director in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor, and procured the buyer, also a private investor.

The buildings of Plaza Viejo Shopping Center were constructed in 2005 and are situated on separate parcels totaling 2.31 acres, allowing flexibility in disposition. The value-add opportunity is currently 59 percent occupied and provides tremendous upside potential in leasing the vacant spaces. Tenants consist of a mix of credit and local businesses.

The property is located in the northeastern portion of Brownsville on one the city’s major thoroughfares.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.