The deal closed Dec. 20. The properties are at 3551 Plano Pkwy. in the Colony, within the Austin Ranch development, just south of Highway 121.
Pizza Inn continues to occupy its headquarters space on a long-term lease with Vintage but has told the new owner the space is greater than it requires. Pizza Inn officials have asked Vintage Interests to market the building to potential office tenants, Perry tells GlobeSt.com. "We are currently in discussions with potential tenants, as the building is ideally suited for full building users who prefer to have their own building in a campus-like setting," Perry says.
Sygma Network, a subsidiary of Sysco Foods, leases the entire refrigerated warehouse facility. Sygma will continue to handle food storage and distribution for Pizza Inn, as well as for other customers, Perry says. The office component and the warehouse were developed by Pizza Inn in 2001 to serve as its headquarters and national distribution hub for their nationwide stores.
The acquisition moves Vintage Interests nearer to its $100-million real estate acquisition goal in its first year of operations, Perry says. "We have closed on roughly $40 million of assets in the last 120 days and have another $10 million closing at year-end," he continues.
He calls the acquisition "a very high quality asset located in the heart of the Metroplex's favored growth corridor, and compliments our growing portfolio." Perry is founder and managing partner of Vintage Interests whose offices are at 2525 Fairmont St.
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