Dallas — Corner Bakery, a national restaurant chain based in Dallas, has filed for Chapter 11 protection in the Delaware Bankruptcy Court after defaulting on its loans last year, according to The Dallas Morning News. Pandya Restaurant Growth Brands purchased Corner Bakery, which currently operates 140 locations in 20 states, in October 2020. Prior to its acquisition by Pandya, the chain was owned by private equity firm Roark Capital Partner.
Frisco, Texas — Centergy Retail has broken ground on Lexington Village, a 100,000-square-foot retail center located in Frisco, approximately 30 miles north of Dallas. A 58,000-square-foot Tom Thumb will anchor the shopping center, which is situated within the 600-acre, master-planned Lexington development. Scheduled to open in spring 2024, the store will feature an in-store Starbucks Coffee kiosk, a pharmacy with a drive-thru, electric vehicle charging stations and drive-up-and-go grocery pickup. An additional 32,000 square feet of shops and three pad sites are scheduled for delivery in August 2023. Pre-leasing is …
Houston — EDENS has announced the addition of four new retail and restaurant tenants to its Uptown Park development in Houston. Natuzzi, a luxury Italian furniture brand, will open a 6,393-square-foot showroom; and Hi, skin — a skincare concept — will occupy a 2,261-square-foot space. Food-and-beverage concepts JuiceLand and sweetgreen will also join the tenant lineup, leasing 700 square feet and 2,908 square feet, respectively.
Lewisville, Texas — Property services company MCS has acquired Chain Store Maintenance (CSM), a commercial facilities services firm. MCS will offer the core interior maintenance services that CSM is known for, with a platform marketed as Chain Store Maintenance — an MCS Company. Exterior facility services will continue to be marketed under MCS. Founded in 1991, CSM currently has agreements to provide facilities services to more than 130,000 client locations in the U.S., Canada, Puerto Rico and Guam. Core offerings include handyman, electrical, locksmith and plumbing services.
San Antonio — Marcus & Millichap has brokered the $5 million sale of a 12,460-square-foot retail property in San Antonio. Walgreens occupies the property on a net-lease basis. Christopher Pappas and Michael Cardone of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. Tim Speck of Marcus & Millichap assisted in closing the deal as the broker of record.
Arlington, Texas — The Home Depot has signed a 35,840-square-foot retail lease renewal at Cooper Street Plaza in Arlington. Brent St. Amant of Hartman Income REIT represented the landlord, Silver Star Properties REIT, in the lease negotiations. The Home Depot was self-represented. Other tenants at the center include UPS, Mattress Firm, OfficeMax, Black Rifle Coffee Co. and State Farm Insurance.
Houston — Hanley Investment Group Real Estate Advisors has brokered the sale of Northwest Crossing Centre, a 180,000-square-foot shopping center located in Houston. Kevin Fryman and Ed Hanley of Hanley, in association with ParaSell Inc., represented the seller, USA Properties Inc. Wu Properties acquired the center for an undisclosed price. Tenants at the property, which was 94 percent leased at the time of sale, include Burlington, Dollar Tree, Marshalls, Planet Fitness, Hibbett Sports, pOpshelf, Chik-fil-A, James Coney Island, Red Lobster and Whataburger.
Plano, Texas — STRIVE has arranged the sale of Jupiter Plaza, an 8,600-square-foot retail strip center located in Plano, on the northern outskirts of Dallas. The property was fully leased at the time of sale to tenants including Taqueria Los Angeles, Nancy’s Beauty Salon and Chuck’s Barber Shop. Hudson Lambert of STRIVE represented the California-based seller in the transaction and procured the Dallas-based buyer.
Spring, Texas — Hanley Investment Group Real Estate Advisors has arranged the sale of Stables Town Center, a 42,800-square-foot shopping center located in Spring, approximately 25 miles north of Houston. Walgreens anchors the property, which was built in 2001. Other tenants at the center include Texas American Title, Elite Spine and Health Center and Coldwell Banker. Kevin Fryman of Hanley, in association with ParaSell Inc., represented the undisclosed seller in the transaction. Wu Properties acquired the property for an undisclosed price.
Friendswood, Texas —Baker Katz has acquired a 20,000-square-foot freestanding retail building in Friendswood, a southeastern suburb of Houston, with plans to reposition the property. According to LoopNet Inc., the building was originally built in 1980 as a pad structure for Baybrook Mall. Ben Brown negotiated the purchase for Baker Katz on an internal basis.