Michael Paez of The Kase Group, a net leased investment brokerage firm, has completed the sale of a McAlister’s Deli located at 5001 Cownhorn Creek Road in Texarkana, Texas for $2,125,000.
Michael Paez of The Kase Group represented the buyer in the transaction, a high net worth East Coast-based private investor. The seller was a West Coast private investor.
According to operator Adam Saxton, “the Saxton Group is proud of 10 plus years operating McAlister’s Deli in Texarkana. This was a common commercial real estate transaction involving third parties and the ownership of the building. It in no way relates to the operation or ownership of the McAlister’s Deli business. We fully remodeled the building last year and raise our glass (of Famous Sweet Tea!) to the next decade serving your wonderful community.”
The 3,339 square foot McAlister’s Deli currently operated by The Saxton Group is strategically positioned across the street from Christus St. Michael Health System, Texarkana’s second largest employer. Subject property is strategically located within walking distance from six international hotel chains: Comfort Suites, Courtyard by Marriott and, Hampton Inn & Suites, Holiday Inn Express and Hilton Garden Inn. Other restaurants in the area include Steak ‘n Shake, Outback Steakhouse, Olive Garden, Red Lobster and Cracker Barrel. The property features 90 parking spaces on a 1.15 acre lot.
The Saxton Group currently operates 67 restaurants in Texas, Oklahoma, Kansas and Missouri. Headquartered in Dallas, Texas The Saxton Group was founded in 1982 by Kelly Saxton which began with two Mazzio’s Pizza restaurants and has grown into one of the largest multi-unit restaurant franchisees in the United States.