Cravey Real Estate Services, Inc. Facilitates Sale Of Outback Steakhouse Ground Lease & La Playa

CORPUS CHRISTI, Texas - May 7, 2024 - PRLog -- Cravey Real Estate Services, Inc., the leading commercial real estate firm in Corpus Christi, is delighted to announce the successful sale of the La Playa and Outback Steakhouse restaurant properties located at 4201 & 4221 South Padre Island Drive. Matthew Cravey (https://craveyrealestate.com/meet-our-team/?brokerId=matt%40craveyrealestate.com), Cravey Real Estate Services, Inc. orchestrated the transition of this dual-tenant, 2.66 acre property from Oakhurst, LTD (Seller) to RFC Retail CC, LLC (Buyer). Although the exact sale price remains confidential, the property was listed with an asking price of $2,250,000.00.

The Outback Steakhouse is 6,717 square feet hosts over 137,500 guests annually and has been a favorite fixture in the area since its inception in 1995. Originally constructed as a Carrabba's Italian Grill then eventually closed, the building currently housing La Playa, a Mexican food restaurant, boasts 7,115 square feet of space.

Outback and Carrabba's were the first transactions in what would become a successful business park – Oakhurst. The next restaurant to come to Oakhurst was Cracker Barrel Old Country Store. Eventually the park filled with hotels that wanted to be near the restaurants including Holiday Inn Express & Suites, Staybridge Suites, and InTown Suites.

For inquiries or further information, please contact:
Cravey Real Estate Services, Inc.
Address: 5541 Bear Ln, Suite 240, Corpus Christi, TX 78405
Phone: 361-289-5168
Email: matt@craveyrealestate.com

About Cravey Real Estate Services, Inc.:
Cravey Real Estate Services, Inc. is a full-service commercial real estate firm based in Corpus Christi, Texas. With over 50 years of experience, Cravey Real Estate Services specializes in brokerage, property management and development services for industrial, office, retail and land properties in the South Texas region