MCKINNEY, TX-In a major expansion push by Panda Express, the restaurant chain has acquired two parcels in McKinney and Murphy, and is in negotiations to buy about a dozen more sites in Texas for its chain of Asian fast-food eateries.
Jim Jamerson, with United Commercial Realty/ChainLinks in Dallas, tells GlobeSt.com that the company paid $695,000 for a one-acre site at the intersection of Stonebridge Drive and Virginia Parkway at Stonebridge Crossing in McKinney. The company also put down another $514,000 for 0.84 acres at the intersection of FM 544 and Murphy Road in Murphy.
"This has proved to be a very good market for Panda," says Jamerson. "They're in a major expansion push right now and looking to infill the Dallas market as well as Austin, San Antonio and Houston."
Jamerson says the sites in Murphy and McKinney were selected because of their locations in rapidly growing communities. Construction on both 2,400-sf restaurants has already started with completion scheduled for early summer, he says.
The McKinney property was sold by the Scottsdale, AZ-based Barclay Group, while the Murphy land was sold by One Murphy Village Ltd. of Dallas. Barclay's Jack Stewart assisted in the McKinney transaction while Nicole Kittrell and Robin Barrow of the Weitzman Group handled the sale of the Murphy property. Jamerson along with Brandon Harris, also with United Commercial Realty/ChainLinks, handled both acquisitions on behalf of Panda Express.
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