Uptown Update

Wilson/Magnolia Retail Building Acquired In Short Sale

According to REjournals.com, Cedar Street Properties (the parent company of FLATS) just bought the retail building at 4600 Magnolia, the one most of us know as “the Starbucks building.”

Take up a half block and fronting on Wilson, it was acquired for $750,000 cash in a short sale.

While the article says Starbucks will remain there after the sale, there are a lot of empty storefronts that we hope to see filled soon.

According to REjournals, this is the fifth Wilson Avenue property that Cedar Street has acquired.

Uptown Update | Staff