HMB Investments LLC of Woodland Hills, CA came away with the4,694-sf restaurant at 2971 John Ben Sheppard Pkwy. in Odessa and5,525-sf IHOP at 4302 College Hills Blvd. in San Angelo. "This wasa rare situation in which one buyer wanted two properties," saysJamie Medress, senior investment associate with Marcus &Millichap Real Estate Investment Services in Phoenix. "They came tous before the properties hit the market and we figured it was agood fit."

Medress adds that the buyer acquired the restaurants with 1031exchange proceeds from an industrial property sale in California.Andrew Perris of Panorex Commercial, also Woodland Hills,represented the buyer.

Medress says two other buyers are negotiating for IHOPrestaurants in Midland at 2507 W. Loop 250 N and 301 E. Interstate20. The deals are anticipated to close in 90 to 120 days. Theremaining asset is a 4,666-sf IHOP at 3750 S. Clack St. in Abilene,which is being marketed for $2.87 million. "The seller's goal is tohave the entire portfolio sold by the end of the year," Medresssays.