STNL Real Estate sold a 2,854-square-foot Jack in the Box restaurant in Harlingen, TX, less than a year after acquiring the asset. Additionally, the Dallas-based investor acquired another Jack-in-the-Box, a 1,650-square-foot property in Alvin, TX. The total value of the transactions added up to $3.2 million.
Justin Mendelson and Joshua Berger with Charles Dunn Co. represented the sellers for the two properties and the buyer for the Alvin asset, in collaboration with JDS Real Estate. The Harlingen restaurant at 4714 S. Expressway sold to an unidentified seller. The seller of the Alvin property at 615 Gordon St. was a private owner in Thousand Oaks, CA.
It’s not certain if STNL exchanged out of one fast-food restaurant into the other. “The Alvin buyer is a real estate investment group that buys and sells real estate continually year-round,” commented a spokesperson from Charles Dunn Co., which brokered the transaction.
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