Press Releases
Marcus & Millichap Arranges Sale of Parker Square Shopping Center in Wichita Falls, Texas
June 19, 2026
WICHITA FALLAS, Texas, June 16, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Parker Square Shopping Center, a 94,532-square-foot multi-tenant retail property in Wichita Falls, Texas.
“This transaction highlights the demand we continue to see from locally based investors pursuing opportunities in Texas’ expanding secondary and tertiary markets,” said Chris Gainey, senior managing director investments. “Primary retail centers in these submarkets remain highly attractive because they often offer more favorable yields than similar assets in major Texas metros while still providing meaningful long-term growth potential.”
Gainey and Philip Levy, investment specialists in Marcus & Millichap’s Fort Worth and Dallas offices, respectively, exclusively marketed the property on behalf of the seller, one of the largest privately held real estate firms in the United States, and procured the buyer, a Dallas-based high-net-worth individual.
Parker Square Shopping Center is located at 2901 Kemp Blvd. Built in 1955, the 23-suite property is on almost 12 acres and was 97% occupied at the time of sale. Crunch Fitness anchors the center, and occupies approximately 43% of the center’s rentable area, while roughly 68% is leased to national or regional tenants. All leases are structured on a triple-net basis. The center is also shadow-anchored by Cinemark Theatres and sits at the signalized intersection of Kell Boulevard and Kemp Boulevard with strong visibility and freeway access. The buyer obtained traditional financing and plans to hold the property long term.
“This transaction highlights the demand we continue to see from locally based investors pursuing opportunities in Texas’ expanding secondary and tertiary markets,” said Chris Gainey, senior managing director investments. “Primary retail centers in these submarkets remain highly attractive because they often offer more favorable yields than similar assets in major Texas metros while still providing meaningful long-term growth potential.”
Gainey and Philip Levy, investment specialists in Marcus & Millichap’s Fort Worth and Dallas offices, respectively, exclusively marketed the property on behalf of the seller, one of the largest privately held real estate firms in the United States, and procured the buyer, a Dallas-based high-net-worth individual.
Parker Square Shopping Center is located at 2901 Kemp Blvd. Built in 1955, the 23-suite property is on almost 12 acres and was 97% occupied at the time of sale. Crunch Fitness anchors the center, and occupies approximately 43% of the center’s rentable area, while roughly 68% is leased to national or regional tenants. All leases are structured on a triple-net basis. The center is also shadow-anchored by Cinemark Theatres and sits at the signalized intersection of Kell Boulevard and Kemp Boulevard with strong visibility and freeway access. The buyer obtained traditional financing and plans to hold the property long term.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
