Venture Commercial completes $9.6 million in single-tenant net-leased transactions
Jul 13, 2016
Venture Commercial Real Estate’s Investment Sales team has completed four separate transactions involving single-tenant net-leased properties in North and Central Texas. The combined property sales total more than $9.6 million in value.
John Zikos, Jonathan Cooper, Christopher M. Gibbons and Don Miller of Venture’s Investment Sales team brokered each of the four transactions.
“We are continuing to see cap rate compression on single-tenant net-leased properties, especially in the fast food sector,” said Gibbons. “We expect to see more activity in this category as investors continue to look for solid returns from these strong brands.”
The properties include two Raising Cane’s Chicken Fingers restaurants in Frisco and Pflugerville, a Chick-fil-A in San Antonio, and a Taco Bell in Frisco. A summary of the transactions follows:
The Venture Investment Sales team represented a local development partnership in the sale of a 3,974 square foot Raising Cane’s Chicken Fingers restaurant located at 6311 Custer Road in Frisco, across the street from Target-anchored McKinney Town Crossing. The buyer was a private investor represented by Larry Golman with Golman & Associates.
The Venture Investment Sales team represented Callaghan Ranch, Ltd. in the acquisition of a 3,585 square foot Raising Cane’s restaurant located at 2408 Farm to Market 685, adjacent to the Stone Hill Town Center located on the southwest corner of Texas Toll Roads 45 and 130 in Pflugerville. The seller, CSW Pflugerville, LLC, was represented by Tim Allen of Jones Lang LaSalle Americas Inc.
The Venture Investment Sales team represented 5803 Babcock Partners, LP in the sale of a 4,400 square foot Chick-fil-A restaurant located at 5803 Babock Road in front of LA Fitness in San Antonio. Brian Munn of Marcus & Millichap represented the buyer, The Susan Met Trust.
Zikos represented the seller of a 3,200 square foot Taco Bell located at 6929 South Preston Road, in front of Preston Stonebrook Center in Frisco. Cooper, Gibbons and Miller represented the buyer, GRS Lone Star Properties, Inc.
About Venture Commercial
Venture Commercial Real Estate is a leader in retail brokerage services throughout the Southwest and is dedicated to each client’s success. The company’s full-service real estate platform includes landlord and tenant representation, property management, land sales, disposition and investment sales. Venture also provides strategic market planning and site selection for restaurant and entertainment clients through its Venturetainment team. Venture is the D-FW partner of X Team International, a network of retail real estate advisors with expertise across the U.S., Canada and Europe. For more information, visit venturedfw.com.