Hanley Investment Group Real Estate Advisors arranged the sale of a single‑tenant IHOP in East Texas to a private Southern California 1031 exchange buyer.
Hanley Investment Group’s Vice President Garrett Wood, in association with ParaSell, Inc., represented the seller, a private investor based in Florida. The buyer was self‑represented.
The IHOP at 209 S. Southwest Loop 323 in Tyler, Texas, totals 4,464 square feet on a 1.91‑acre parcel as an outparcel to a Walmart Supercenter. The restaurant is operated by ACG Texas, one of the largest IHOP franchisee in the U.S. The lease features seven years remaining, 1% annual increases, and six five‑year renewal options, offering predictable income and zero landlord responsibilities.
The property benefits from its position along Loop 323, one of Tyler’s dominant commercial corridors, and its proximity to major employers including Christus Mother Frances Hospital, UT Health East Texas, Trane Technologies and Brookshire Grocery Company. Additional nearby retailers include ALDI, Chase, McDonald’s, Popeyes, Subway, Take 5, Walgreens and Dollar Tree.
The Tyler closing marks Hanley Investment Group’s third IHOP sale in Texas in the last five months. In late December, the firm completed the sale of an IHOP in San Marcos, Texas, to a 1031 exchange buyer from Cincinnati, Ohio, overcoming franchisee performance challenges and limited remaining lease term. That same month, Hanley arranged the sale of an IHOP in Grand Prairie, Texas, representing both the buyer and seller. Hanley also recently completed the sale of a vacant Wendy’s in Jacksonville, Texas, underscoring continued investor interest in East Texas retail and redevelopment opportunities.
