WEATHERFORD, Texas — This story was originally published by our content partners at the Dallas Business Journal. Read the original version here.
A real estate limited liability company tied to the founder of the Chicken Express fast food chain has purchased a 44,000-square-foot shopping center in Weatherford.
Weatherford-based RLS II Properties Management Inc. on Oct. 11 purchased The Village at Weatherford at 300-318 South Main St. from California-based Sinclair Investments LLC, according to Parker County deed documents.
RLS lists Richard Stuart as key principal. Stuart founded Chicken Express with his wife in 1988. The Stuarts are major philanthropists in Weatherford, supporting Weatherford College, to which they donated Canyon West Golf Club.
The Woodmont Company, which represented the seller and announced the deal Oct. 23, did not disclose the sale price. But deed records show RLS took out a $4.27 million loan from Community National Bank and Trust of Texas.
The Village is three blocks away from Weatherford's historic courthouse and town square. It was built in 1960 and renovated in 2007, according to Sinclair Investments' website. The renovations included a new two-story building with 15,000 additional square feet of retail and office space. Listed tenants of the retail center include Dollar General, Edward Jones and Liberty Tax Service.
Weatherford is the seat of Parker County and is located about 30 miles west of downtown Fort Worth.
Russel Wehsener, lead broker at The Woodmont Company, represented Sinclair Investments. Gibson Duwe and Kyle Paulson of Transwestern represented the buyer.
"We are thrilled to have been part of this successful sale, which reflects the continued strength of the retail market in Weatherford," Wehsener said in a statement. "The Village at Weatherford represents an outstanding investment opportunity, and we are excited to see its future growth under new ownership."
