DALLAS, Nov. 11, 2014—X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S., Canada and Europe, announced that partner Venture Commercial Real Estate, a Dallas-based commercial real estate firm, completed the sale of two properties in Richardson, Texas and Waco, Texas, representing more than 150,000 square feet of retail space. Venture Commercial Partner John Zikos made the announcement.
The Richardson property, located at 300 South Plano Road near the southwest corner of South Plano and East Belt Line Road, accounts for 74,091 square feet of retail space. The 76,316-square-foot Waco building is located at 5050 West Waco Drive. Currently, Burlington Coat Factory occupies both properties.
“The properties in Richardson and Waco hold tremendous potential for future growth and development,” Zikos said. “It was a pleasure to have been able to leverage our expertise in the Texas real estate market to negotiate a favorable deal for both buyer and seller.”
Zikos and Christopher M. Gibbons of Venture represented the seller, MDS Texas Realty, in the transactions, closing out a portfolio of four investment property sales for the client. David Tran of California-based Transmercial Commercial Real Estate Investments represented the buyer of the Richardson property, while El Paso-based MIMCo Inc. self-represented in the Waco property purchase.
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About X Team
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services,property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.xteam.net.
About Venture Commercial
Venture Commercial is recognized as a leader in retail brokerage services throughout Texas for its dedication to each client’s success. The company’s full-service real estate platform includes landlord and tenant representation, property management, land sales, and income property sales. As the D-FW partner of X Team International, Venture is able to serve its clients on a national scale. For more information visit www.venturedfw.com.