The Collins Company Arranges Sale of Two Fast-Food Drive-thru Properties in East Texas
WHITEHOUSE, Texas – (RealEstateRama) — The Collins Company Commercial Real Estate, LLC, a full-service, diversified retail real estate company and property management service, announced today that the firm arranged the sale of a two-tenant retail property occupied by two fast-food drive-thru buildings in East Texas in the City of Whitehouse, located approximately five miles southeast of downtown Tyler and less than five miles west of popular recreation area Lake Tyler, in Smith County. Collins represented the buyer in the transaction and has been retained by the buyer as the property manager. The price was not disclosed.
Located at 404-406 State Highway 110 North, adjacent to the signalized entrance to the 1,000-student Whitehouse Junior High School campus, the property includes two freestanding drive-thru buildings formerly occupied by Burger King (2,800 SF) and Church’s Chicken (1,540 SF) on more than one acre of land. The 1,500-student high school is located 3/4 of a mile from the property. The property is 1/3 of a mile from the signalized intersection of Main Street (FM 346) and State Highway 110 North.
According to Deborah Collins, president of Los Angeles-based The Collins Company, State Highway 110 is the city’s major north/south thoroughfare and offers the property tremendous visibility. FM 346 is the main east/west arterial. The property also benefits from the pylon signage and excellent site access with full turn movements into and out of the property. There is also ample parking, Collins noted.
“Having spent considerable time in Whitehouse, the community is feeling the loss of both Burger King and Church’s Chicken, which closed due to corporate requirements that the franchisees were unwilling to fulfill,” said Collins. “The community is hungry to replace these restaurants with new food or beverage operators – from chicken and burgers to sandwiches, coffee, smoothie/desserts, or any other fast-food tenant that benefits from a high visibility, convenient drive-thru component.”
Collins adds, “With so many schools nearby, including the school district office, combined with the rapidly growing population base of Whitehouse and the commuters and vacationers who travel along State Highway 110, this is truly a great location with excellent access and visibility. Furthermore, the City is excited to assist new businesses looking to open in Whitehouse.”
The City of Whitehouse prides itself on being very business friendly. “The City of Whitehouse, and especially the City Manager Aaron Smith, have been extremely helpful and responsive,” said Collins. “You will find southern hospitality at its best here in the City of Whitehouse!”
According to Whitehouse’s City Manager Aaron Smith, “The City of Whitehouse is a growing community with strong retail potential. Our residents have incomes 35 percent above the county average. Within five miles of the site, average household income is $93,612.”
Smith adds, “We are committed to helping businesses expand in our community. We work hard to make the transition here as seamless as possible. Our building permit process is extremely easy, and we are happy to guide businesses through the entire process.”
In addition, the City of Whitehouse offers incentives on a case-by-case basis to stimulate business attraction, retention, redevelopment and expansion. The incentive package would be determined by the type of operation, the number of full-time jobs created, capital investment, median wage and community impact.
The Whitehouse Independent School District is the major employer in town and is walking distance to the property as is Whitehouse Junior High School, which is nearly across the street from the Burger King/Church’s Chicken location, said Collins.
The Whitehouse Independent School District consists of a total of seven schools located on six campuses. The campuses include: Cain Elementary School; Mozelle Brown Elementary School; Higgins Elementary School; Stanton-Smith Elementary School; Holloway Middle School; Whitehouse Junior High School; Whitehouse High School; AIM Center; and Bus Barn. The award-winning district is well regarded throughout the East Texas region and is one factor contributing to the city’s strong growth rate. Stanton-Smith Elementary school is a more recent addition to the Whitehouse ISD campuses due to the population growth, Smith reported.
In addition, the property benefits from being located approximately eight miles from The University of Texas at Tyler. Founded in 1971, UT Tyler is one of the fast-growing universities in the renowned University of Texas System. UT Tyler consists of seven academic colleges, offering over 80 academic degree programs at the bachelor, master, and doctoral levels. UT Tyler is accredited by the Southern Association of Colleges and Schools and had a fall 2017 student body enrollment of 10,527 and 564 faculty members with 1,440 students residing on campus. It is one of the only universities in the country to offer a bachelor’s degree in human resource development.
The seller was a private investor based in Reno, Nevada, and was represented by Mark Whatley, president and CEO of Burns Commercial Properties of Tyler, Texas, in the transaction. The buyer, represented by Deborah Collins, president of The Collins Company Commercial Real Estate, was a private investor based in Southern California.
About The Collins Company Commercial Real Estate
The Collins Company Commercial Real Estate is a full-service, diversified real estate company and property management service. The Company has a passion for partnering with landlords and tenants, strategically adding value to their investments and business endeavors. Since 1995, The Collins Company has served as an in-house real estate department for both, with a personalized approach backed by more than 25 years of experience. The Company offers a wide range of services and offers free broker evaluation letters to each client. The Collins team works with both landlords and tenants to provide the finest in asset management, leasing and repositioning, site selection, acquisition and disposition, and consultation. For more information call 805.529.2455 or visit www.thecollinsco.com
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The Collins Company Commercial Real Estate