LandPlan Development Corporation, the Frisco, TX-based real estate development company, completed the sale of 4681 Ohio Drive, which sits at the southwest corner of Lebanon Road and Ohio Drive in Frisco, to Los Angeles-based Shayan Holdings. Terms of the deal or sale price were not disclosed for the 29,200-square-foot retail center. Jennifer Pierson and Beth Pierson of CBRE represented LandPlan in the deal, while Matt Cutter and Adam Hedgpeth of CBRE's Dallas financial consulting group performed the financial analysis on the property, according to a Dallas Business Journal article.
"Lebanon Ohio Center is an interesting asset because it is just off of Preston Road by about a block, tenants can capture the high-end Frisco shopper without paying Preston Road rental rates," said CBRE's Jennifer Pierson. The center was 90% leased at the time of sale with major tenants including CrossFit Remedy and Arts and Technology Institute.
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