Phillips Edison & Company Acquires 86,698-SF Shops at Prosper Trail From Younger Partners Investments in North Texas

Phillips Edison & Company has acquired Shops at Prosper Trail, an 86,698-square-foot neighborhood retail center in Prosper, Texas, from Dallas-based Younger Partners Investments, JLL announced July 10. JLL represented the seller in the transaction, which involved a fully occupied property positioned at one of North Collin County's busiest retail intersections. The transaction price was not disclosed.

Property and Location Details

Built in 2016, Shops at Prosper Trail sits at the intersection of Preston Road and Prosper Trail, approximately 35 miles north of downtown Dallas. The center is reported at 100% occupancy and draws more than three million annual visitors, according to JLL. The intersection sees more than 43,000 vehicles per day, and the property ranks in the 94th percentile of neighborhood centers nationally for performance, leading all centers within a five-mile radius in visits per square foot.

The three-mile trade area surrounding the center carries an average household income of $189,083 and has experienced 31% population growth since 2020. Prosper's population is projected to grow an additional 70% by 2049, supported by more than 8,000 multifamily units currently under construction within a 10-mile radius, JLL noted.

Competitive Grocery Landscape

JLL described the property as benefiting from limited immediate grocery competition, with the nearest major competitors located five to eight miles away. An H-E-B grocery store is currently under construction less than five miles from the center.

Seller's Execution

Younger Partners Investments, which was formed in 2020 to acquire retail investment properties across Texas, described the disposition as a successful conclusion to its investment. The firm's portfolio totals more than one million square feet and includes several retail centers across the state.

"This grocery-anchored open-air shopping center has been a wonderful investment for us," said Micah Ashford, Managing Director of Younger Partners Investments. "We brought it to full occupancy and exceeded our investors' expectations with the sale. We anticipate rent growth remaining strong in North Texas as we continue to grow our retail platform."

The JLL Capital Markets Sales and Advisory team representing the seller was led by Senior Managing Director Adam Howells and Director Erin Myer.

Buyer Profile

Phillips Edison & Company, known by its ticker PECO, is one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers. Founded in 1991, the company operates a vertically integrated platform and, as of March 31, 2026, managed 326 shopping centers, including 299 wholly owned centers comprising 33.7 million square feet across 31 states. PECO's top grocery anchors include Kroger, Publix, Albertsons, and Ahold Delhaize.

Apricus Realty Capital was also identified as a participant in the transaction. The nature of Apricus Realty Capital's role was not specified in the source materials.

JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operates in more than 80 countries as of March 31, 2026.

Sources

JLL Newsroom — Shops at Prosper Trail, July 10, 2026