ALBUQUERQUE, N.M. — Jimmy’s Egg Franchise Systems has signed six area development agreements for 52 new restaurants to be built in Kansas, Arkansas, Texas, New Mexico, Nebraska and Iowa. This development activity will bring Jimmy’s Egg into three new states: Arkansas, New Mexico and Iowa. Jimmy’s Egg was founded by Loc Le and opened in Oklahoma City in 1980. The chain currently includes 51 locations, prior to this new expansion.
MIAMI — The Miami-Dade Board of County Commissioners has officially approved Link at Douglas Station, a $464 million mixed-use, transit-oriented project at the Douglas Road Metrorail Station in south Miami. Link at Douglas Station will encompass approximately 970 residential units, including a workforce housing component; 70,000 square feet of retail space; a new hotel; and a public plaza. Miami-Dade executed a ground lease with Adler 13th Floor Douglas Station LP, a joint venture between 13th Floor Investments and Adler Group, setting the stage for the construction of the project, which will be constructed in four phases on a seven-acre site bordered by US 1, S.W. 27th Avenue, Peacock Avenue and S.W. 38th Avenue. Phase I will focus on the development of a residential tower, a 150-key hotel in partnership with Driftwood Hospitality Management LLC and a portion of the retail footprint, which includes a supermarket. Link at Douglas will maintain the Douglas Metrorail Station as its central element, providing access to Miami’s downtown financial, arts and entertainment districts. According to the joint venture, the project will be designed to increase public transit ridership.
IRVING, TEXAS — Tandy Lofland of Intergroup Realty and Mark Rome of MJ Rome represented the seller in the recent sale of the Hyatt Place Dallas/Las Colinas in Irving. The 122-room hotel is located in the 12,000-acre Las Colinas mixed-use development, one of the largest master-planned communities in the country. An affiliate of Summit Hotel Properties sold the hotel to a private investment group from the Dallas area. The hotel will undergo upgrades and improvements and will continue to operate as a Hyatt Place franchise.
AUSTIN, TEXAS — ARA Newmark has secured the sale of Broadstone 8 One Hundred, a 376-unit multifamily community in northwest Austin. The complex is located near Apple’s planned expansion of its 39-acre corporate campus, as well as local hubs for eBay, PayPal, Google, Visa and 3M. San Francisco-based Jackson Square Properties was the buyer. Pat Jones of ARA Newmark represented the seller, Alliance Residential. Constructed in 2015, Broadstone 8 One Hundred is a Class A community situated on 17 acres. The property offers a pool with lounge seating and a tanning ledge, outdoor kitchen with gas grills, bocce ball court and a hammock green. The clubhouse includes viewing/entertainment spaces, a social lounge with a beverage bar and an athletic center. Unit interiors feature 10-foot ceilings and hardwood floors.
HURST, TEXAS — Marcus & Millichap has arranged the sale of The Gables of Notting Hill, a 175-unit apartment property located in Hurst. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a Houston-based private investment firm. Silva and Braly also secured the buyer, a Dallas-based investment group. The property was built in 1968 and consists of 27 buildings with one-, two- and three-bedroom floor plans.
ST. LOUIS — Aragon Holdings LLC has acquired a 480-unit apartment property in St. Louis for an undisclosed price. A joint venture between Covenant Capital Group and Bell Partners Inc. sold the asset. Oxford Hills Apartments is situated on 26.3 acres at 10304 Oxford Hill Drive. Amenities at the complex include an outdoor swimming pool with sundeck, indoor swimming pool, fitness center, tennis courts, clubhouse with cyber café, dog park, playground and detached garages. Oxford Hills Apartments has 36 residential buildings, which feature one-, two- and three-bedroom units that average 953 square feet. Sean Fogarty, Marty O’Connell and Wick Kirby of HFF represented the seller in the transaction. According to the St. Louis Business Journal, Oxford Hills Apartments has an appraised value of $7 million and was last sold in 2007 for $34.5 million.
PLANO, TEXAS — The NAI Robert Lynn industrial division has represented Autos of Dallas in the purchase of the 55,000-square-foot Ex-Ewing Buick GMC Dealership in Plano, which will allow the auto dealer to nearly double its inventory to 1,000 vehicles. The new dealership will make Autos of Dallas the largest independent auto dealer in metro Dallas. NAI Robert Lynn’s Chad Albert represented Autos of Dallas in the transaction. Autos of Dallas will move from its current location in Addison, previously known as the Addison Square Garden Ice Rink, to its new headquarters on eight acres at 4472 Plano Parkway.
JACINTO CITY, TEXAS — Flaming Grill & Supreme Buffet has leased the remaining space in the 217,004-square-foot Market at Hunting Bayou as its first location in metro Houston. The restaurant chain is planning to invest $2 million into the interior of a 21,164-square-foot space in the retail center, located at 11900 E. Freeway in Jacinto City. Construction on the junior anchor space is expected to take five months. The chain has restaurants in New Jersey, New York, Pennsylvania and South Carolina. The daily menu features more than 250 items of American, Italian, Japanese and Mexican dishes alongside traditional Chinese cuisine. Flaming Grill’s lease will bring Market at Hunting Bayou to 100 percent occupancy. Brad Elmore of Houston-based NewQuest Properties represented the landlord, JBL Asset Management of Miami, in the transaction. Drew Huggins of Huggins Realty Group represented the restaurateur, which also has a location in Dallas.
ST. LOUIS — HDA Architects has completed a 27,000-square-foot renovation forMungenast St. Louis Honda. The $4.7 million project includes a new open concept floor plan, additional customer waiting area, a training room and a corporate conference room. Josh Goodman served as the project manager, Kim Murray was the interior designer, and David George and Leah McClendon were the architects of record. Holland Construction Services was the general contractor.
WAUKESHA, WIS. — Siegel-Gallagher has brokered the sale of a 2,382-square-foot mixed-use property for an undisclosed price. Sania Investments LLC purchased the property from Sunset Bank & Savings. The building, located at 1710 Paramount Drive in Waukesha, approximately 20 miles west of Milwaukee, includes office and retail space. Shaun Dempsey and Devin Tessmer of Siegel-Gallagher brokered the transaction.
