The just-closed deal has Staubach Co.'s Cypress Equities acquiring six Super One stores from Brookshire Grocery Co. of Tyler, TX on behalf of Fleming Foods, the nation's largest grocery store supplier. The sale/leaseback package includes a Smith's store in Las Cruces. The stores range in age from five to 15 years.

With the ink now dried, Fleming will change the marquees at 3419 Trinity Mills in Dallas; 3265 Broadway in Garland; 2133 N. Beltline Rd. in Mesquite; 1801 W. Parker Rd. in Plano; 8800 Lakeview Parkway in Rowlett; and 5000 Main St. in the Colony. Fleming is hitting the fiercely competitive marketplace with a full-service, price-impact branding that rivals discounted stickers found in Wal-Mart's grocery lineup.

Clay Smith, Staubach's vice president and managing director in the Southwest, tells GlobeSt.com that he and associate Mark Newman, in a separate contract, are scouring the metroplex for additional Rainbow locations. Smith says it could take up to a year before more sites are identified.

Cypress Equities stepped in and made the buy so Fleming wouldn't have its capital tied up in real estate, Smith says. He and Newman represented Fleming in the transaction. Mike Holsomback, finance director, handled Cypress Equities' side of the deal. Brookshire used in-house representation for the sale to Cypress Equities, Staubach's development and acquisitions arm for its retail services' clients. Surprisingly, the entire transaction took only four months to structure, according to Smith.

The Dallas-based Fleming Foods, which services some 50,000 retail locations nationwide, has 102 stores operating under the Food4Less and Rainbow brands. In Texas, Rainbow stores have established footprints in El Paso, Amarillo and Lubbock.

Instant Insights /

Rainbow Foods Makes $30M First Run at North Texas

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