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Dallas-Ft. Worth
The sale of a Chili?s groundlease property at the northeast quadrant of Hwy 80 and FM 548 in Forney is exhibit A for supply-demand imbalance, UCR SVP Tommy Tucker tells us. Wanna hear more about what's going on in retail? Come to Bisnow's Retail Real Estate Summit  on Sept. 28 at the Marriott City Center. Sign up today!
Tommy Tucker
Tommy says this deal and other current single-tenant offerings demonstrate that there isn't enough supply for the demand that exists. That's mostly a result of so little new development during the economic downturn. Thus, buyers are aggressive with single-tenant properties in proven locations with strong historical sales and solid residual value.
Chili's in Forney
This Chili's, which sold for an undisclosed amount, was aggressively pursued, Tommy tells us. He repped the seller, a Dallas LLC, and the buyer, an LLC out of Northern California. Chili?s occupies a 5,860 SF building on a 1.5-acre site that's part of Mustang Crossing at Forney (we told you about its sale last week). Tommy and colleague Aaron Ashmore also exclusively repped special servicer LNR Partners in the sale of the 34k SF Weatherford Commons Shopping Center at I-20 and Main Street in Weatherford. The buyer was a Texas-based private investor. Wanna hear more about what's going on in retail? In case you need a reminder, our Retail Summit will be held on Sept. 28 at the Marriott City Center. Register here.