MCP Ventures Completes Sale of Military Plaza
MCP Ventures, LLC, a Fort Worth, TX-based private equity real estate firm, has sold Military Plaza in Benton, Arkansas for an undisclosed price.
The 117,744 square foot commercial retail center was purchased in September 2022. This 100% leased asset includes such credit tenants as Dollar Tree, Big Lots, Harbor Freight, Urban Air, CATO, and Sally Beauty.
MCP Ventures purchased the asset, redeveloped and relet the asset, which used to contain J.C. Penney and Hibbett Sports and was repurposed to include the new tenant line-up. The team at Prudent Growth Partners, LLC, including Thomas Hahn and David Pierce, were very professional and performed as promised.
“We seized this opportunity because of its low cost basis and great location on a growing suburb of Little Rock. It turned out to be a winner for our investors,” said Bill Morris, Founder of MCP Ventures, LLC. “Many thanks to Michael Austry at CBRE and Luke Fuller with Defease with Ease on this transaction.”