Pizza Inn HQ, Warehouse Sell for $12M

DALLAS-Locally based Vintage Interests, headed by Ernest O. Perry III, has acquired the fully occupied 40,000-sf Pizza Inn headquarters building and a separate 100%-leased, 102,000-sf refrigerated warehouse facility. The company bought the property for $11.5 million or about $81 per sf.

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.