The vehicle repair shop owner penned a 10-year lease for the 5107 Lemmon Ave. location, says Lou Miranda of United Commercial Realty/ChainLinks in Dallas. He and Darrell Hernandez brokered the tenant's side of the transaction while Robert Todd of City Realty Group in Dallas negotiated for the property owner, Perry Hollingsworth. Retail sites in the Lemmon Avenue stretch are bringing in $16 per sf to as much as $35 per sf.
Miranda tells GlobeSt.com that JoeAuto's owner was looking for a second location in the Dallas area when the Hollingsworth project, rising as spec near the University Park line, flashed on the radar screen. In August, JoeAuto opened a 14,000-sf shop in an auto row at the intersection of US Highway 75 and Parker Road in Plano. Going forward, the Houston-based JoeAuto plans to add "two or three" locations per year in Dallas/Fort Worth, looking to land in high-end auto rows. Miranda says the chase begins again in the spring.
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