Texas

Arlington, Texas — RealSource Group has brokered the sale of a 3,010-square-foot single-tenant retail property in Arlington that is triple-net leased to 7-Eleven. Austin Blodgett of RealSource, along with ParaSell Inc., represented the seller, a private developer based in Houston. Jeremy McChesney of Hanley Investment Group represented the buyer, a 1031 exchange investor based in Southern California. The asset traded at a cap rate of 4.7 percent. The 7-Eleven store, which includes a fuel station, opened on June 10 to mark the beginning of a new 15-year lease.

Addison, Texas — VOP Partners LLC has purchased Village on the Parkway, a 343,911-square-foot retail center located in the northern Dallas suburb of Addison. Anchored by Whole Foods Market and AMC Theatres, the 32-acre center was originally built in 1981 and redeveloped in 2014. Other tenants include RA Sushi, Neighborhood Services, Yard House, Hopdoddy Burger Bar, Sidecar Social and Pie Tap. Barry Brown, Chris Gerard, Ryan Shore, Jason Jacobs and Matthew Barge of JLL represented the undisclosed seller in the transaction.

Sugar Land, Texas — A local developer doing business as LJ Parkway LLC has sold Riverstone Plaza, a 28,000-square-foot retail center in the southwestern Houston suburb of Sugar Land. Built in 2018, the property was 98 percent leased at the time of sale to a roster of 16 tenants that includes salons, medical services, a learning center and restaurants. Marc Peeler of NewQuest Properties represented the seller in the transaction. Bob Yuanjie of Ping Management LLC represented the undisclosed, locally based buyer.