Texas

Richardson, Texas — Marcus & Millichap has negotiated the sale of Baybury Square Shopping Center, a 51,542-square-foot retail portfolio located in Richardson, about 14 miles north of downtown Dallas. Built in 1966, the portfolio includes two multi-tenant shopping centers and two freestanding buildings situated on nearly 11 acres. The property was approximately 64 percent leased at the time of sale. Philip Levy and Scott Abeel of Marcus & Millichap marketed the property on behalf of the seller, an out-of-state private investor, and procured the buyer, a local real estate developer. The buyer plans …

Richmond, Texas — RealSource Group has brokered the $5.8 million sale of a newly constructed, single-tenant restaurant property located in Richmond, a southwestern suburb of Houston. Shake Shack occupies the 3,072-square-foot building on a 15-year corporate absolute triple-net ground lease with 10 percent rental increases every five years. The property is situated within Waterview Town Center, a 134-acre mixed-use development anchored by Sprouts Farmers Market, Academy Sports + Outdoors and LA Fitness. Austin Blodgett and Jonathan Schiffer of RealSource Group, in association with ParaSell Inc., represented the seller, Read King, a …

Burleson, Texas — Los Angeles-based Westwood Financial has acquired South Town Crossing II, a 23,300-square-foot retail center located in Burleson, approximately 13 miles south of downtown Fort Worth. Target shadow anchors the property, which adjoins South Town Crossing I, a 59,986-square-foot retail center. South Town Crossing II was fully leased at the time of sale to tenants including Petco, Mathnasium, Mattress Firm and Glitz Nails. With this acquisition, Westwood now owns 83,286 square feet within South Town Crossing, representing 82 percent of the shop space surrounding the Target anchor.

The Woodlands, Texas — Houston-based Palo Duro Commercial Partners has negotiated the sale of The Shoppes at Sawdust, a 13,500-square-foot retail center located in The Woodlands, roughly 30 miles north of Houston. The property, which was fully leased at the time of sale, features a mix of tenants including 5Point Credit Union, Little Caesar’s, Cloud 9 Dental and Jimmy John’s. Walmart shadow anchors the center. Stephen J. Pheigaru and Chris Reul of Palo Duro represented the seller, an entity doing business as Sawdust Retail LP, in the transaction. The buyer …