ST. CLOUD, FLA. — NAI Realvest has brokered the sale of Buffet City restaurant and its 2.02-acre site, which is located at 4551 13th St. in St. Cloud. Local investment firm Sun Valley Eastern Investments acquired the 10,523-square-foot property for $1.49 million. Paul Partyka of NAI Realvest represented the seller, Sooner Investment or Sooner St. Cloud LLC of Melbourne, in the transaction. NAI Realvest's Kevin O'Connor and Matt Cichocki represented the buyer.
Restaurant
CHILLICOTHE, OHIO — An Ohio-based investor has purchased Tumbleweed Southwest Grill, which is located at 1150 N. Bridge St. in Chillicothe. Built in 2002, the property sold for $1.2 million. The property is absolute triple net leased to the restaurant with approximately 9 years remaining in the lease. Dan Cooper of The Cooper Commercial Investment Group represented the buyer and the sellers, a Minnesota-based net lease property fund, in the transaction.
KANSAS CITY, MO. — A Chicago-based private investor has acquired a triple-net leased property, which is located at 8350 N.W. Roanridge Road in Kansas City, for $1.6 million. The 1.56-acre parcel contains a 5,738-square-foot building that is long-term leased to Chili's. Randy Blankstein of The Boulder Group represented the buyer; Eric Gonsher of The R.H. Johnson Company represented the seller, a Chili's franchisee, in the transaction.
SAN ANTONIO — Rare Hospitality International has purchased 1.71 acres of land from CR1604 Retail, LTD for a Longhorn Steakhouse restaurant at 5706 W. Loop 1604 North in San Antonio. Longhorn will be located in the Shoppes at Culebra shopping center. Hugh Ruggles of Texas/Southwest Group represented the buyer, while P.J. Pfieffer of Birnbaum Property Co. represented the seller.
ARLINGTON – Asian King Buffet has leased 9,092 square feet of space at the Carriage Plaza shopping center located at Interstate 30 and North Collins Street in Arlington. Scott Rose of the Retail Connection negotiated the lease with KC Cheah and Shirley Tan of Pacific Century Realty.
WEST VALLEY CITY, UTAH — TRI Commercial/CORFAC International has brokered the sale of an IHOP restaurant located at 3383 Decker Lake Drive in West Valley City. Listed for more than $2.32 million, the property encompasses approximately 4,114 square feet and 63 parking spaces. TRI Commercial/CORFAC International’s Robert King represented the seller, WB Equities, in the transaction, and Commerce Real Estate Solutions’s Mary Street represented the buyer. The tenant has more than 17 years remaining on the primary lease term.
ARLINGTON — Marcus & Millichap has completed the sale of a Burger King located in Arlington. The 4,297-square-foot, freestanding building is situated at 3500 Matlock Road. Burger King currently has 7 years remaining on its 20-year absolute net-lease, with two 5-year options. Philip Levy of Marcus & Millichap's Fort Worth office and Jason Vitorino of the firm's Dallas office represented the seller, a limited liability company, and the buyer, a private investor.
MILWAUKEE — Panda Express has signed a lease to open its first free-standing restaurant location in Milwaukee. Located at 1210 Miller Park Way, the 3,035-square-foot restaurant is expected to open in December. John Kardelis of CB Richard Ellis' Milwaukee office represented the tenant. Terms of the lease were not released.
THE WOODLANDS — A 1,400-square-foot Subway restaurant has opened at Windvale Shopping Center at College Park Drive and FM 1488 Road in The Woodlands. Centro Properties Group owns the shopping center and was represented by its own Crystal Childs in the lease transaction.
SCHAUMBURG, ILL. — AJK LLC has purchased a retail property at 680 Mall Drive in Schaumburg for $1.15 million. The buyer plans to open a to-be-named American cuisine restaurant at the 7,200-square-foot property. Dan Steinberg of Titan Commercial represented the buyer; Cushman & Wakefield represented the seller, Darden Restaurants, in the transaction. The property was previously a Smokey Bones Bar and Fire Grill location.