LANSING, MICH. — Strategic Foods, doing business as Carrie’s Kitchen, has signed a 4,040-square-foot retail lease in Lansing. Carrie’s Kitchen, a soul food restaurant, will take the space formerly home to Wing Heaven Sports. Zach Burk and Bill McLeod of Gerdom Realty & Investment represented the tenant in the lease. Scott Adams of NAI Mid-Michigan represented the undisclosed landlord.
MERCED, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sales of two newly constructed, adjacent, single-tenant retail properties in the San Joaquin Valley city of Merced. Two individual private buyers purchased the assets in separate transactions totaling $8.2 million. In both transactions, Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Glendale-based Chase Partners. A Los Angeles-based private investor acquired the first asset for $5.3 million. Constructed in 2023, the 4,088-square-foot convenience store and gas station is located at 1995 W. Olive Ave. 7-Eleven occupies the building under a new, corporate, 15-year, triple-net lease. Nicholas Borrelli of Coldwell Banker Commercial George Realty in Arcadia represented the buyer in the deal. A Los Angeles-based private investor purchased the second building for $2.9 million. Michael Mehdizadeh of Los Angeles represented the buyer in the deal. Located at 1993 W. Olive Ave., Starbucks occupies the 1,000-square-foot, drive-thru-only building under a new, corporate, 10-year, triple-net lease.
PEARLAND, TEXAS — Cove Capital Investments, a California-based firm that specializes in Delaware Statutory Trust (DST) and 1031 exchange deals, has acquired a 39,597-square-foot industrial and retail property in Pearland, a southern suburb of Houston. The newly renovated property consists of a 28,310-square-foot industrial flex building, a 7,287-square-foot restaurant and a 4,000-square-foot storage warehouse. The seller and sales price were not disclosed.
LANCASTER AND PALMDALE, CALIF. — A private investor has acquired two retail locations in Los Angeles County for $3.4 million each, or $6.8 million combined. The properties are net-leased to IHOP. The restaurants are located at 1650 W. Ave. K in Lancaster and at 39176 10th St. W in Palmdale. The deal terms consisted of a new 23-year lease that commenced at the close of escrow, 1.5 percent annual increases and a 30-unit guarantee. Andre Thompson and Peter Deltondo of Marcus & Millichap represented the seller, a private investor, and secured the buyer in the deal.
ROCHESTER HILLS, MICH. — Peace Love & Little Donuts has signed a lease to open a 1,164-square-foot location at the Papa Joe’s Plaza shopping center in Rochester Hills. Michael Murphy and Vicki Gutowski of Gerdom Realty & Investment represented the tenant, while Lawrence Randazzo of Hayman Co. represented the undisclosed landlord. Pittsburgh-based Peace Love & Little Donuts operates in 14 states.
LOS ANGELES — FAT (Fresh. Authentic. Tasty.) Brands Inc., the Los Angeles-based parent company of 17 restaurant concepts, has inked a new development deal to open 20 new Johnny Rockets restaurants across Texas over the next 10 years. The locations were not disclosed, but the first restaurant is set to open sometime this year. The new locations will open in partnership with Brame Holdings LLC, a San Antonio-based private investment company with a portfolio of franchised restaurants and automotive stores.
PORT ST. LUCIE, FLA. — PEBB Enterprises and Banyan Development have signed seven new retail tenants to join the roster at Shoppes @ the Heart of Tradition, a 71,000-square-foot shopping center within the Tradition master-planned development in Port St. Lucie. The new tenants include Ace of Carts (1,950 square feet); Carmela Coffee (1,800 square feet); Cooper Orthodontist (1,800 square feet); The Joint Chiropractic (1,604 square feet); Papa John’s Pizza (1,602 square feet); Robeks Smoothie (1,340 square feet); and Swift Mediterranean Grill (2,770 square feet). Aldi (19,231 square feet) anchors the shopping center, which has three inline spaces available for lease and three available outparcel sites ranging from one to three acres. PEBB and Banyan expect to complete exterior construction of Shoppes @ the Heart of Tradition this summer, with tenant build-outs commencing after.
ROCKLIN, CALIF. — LRE & Cos. has received approval from the City of Rocklin for the development of University Square, a 10-acre mixed-use destination project at the intersection of Sunset Boulevard and University Avenue in Rocklin, approximately 20 miles northeast of Sacramento. Slated for completion by the end of 2025, University Square will feature more than 20,000 square feet of retail space, 5,000 square feet of space for quick-service restaurants with drive-thrus, a 123-room Hilton Garden Inn, a 10,000-square-foot daycare center and a 3,700-square-foot Circle K convenience store and a car wash. A construction timeline was not released.
ALPHARETTA, GA. — Chick-fil-A will open a 5,300-square-foot restaurant this spring at Halcyon, a $500 million mixed-use development located in Alpharetta, a northern suburb of Atlanta. Currently under construction, the building will be situated within Halcyon’s Phase III. RocaPoint Partners is the developer and landlord of the project, and JLL manages retail leasing at the property. Five Guys and Chase Bank have also signed leases at the development and will occupy 2,400 and 3,500 square feet, respectively, within a 13,000-square-foot building adjacent to Chick-fil-A. Phase III of Halcyon will also feature a grocery anchor, to be announced later this year.
HOUSTON — Howard Hughes Holdings (NYSE: HHH) is underway on construction of Village Green at Bridgeland Central, a 70-acre retail development in northwest Houston. Located within the 925-acre Bridgeland master-planned community, Village Green will comprise a 100,000-square-foot H-E-B grocery store and 28,000 square feet of inline retail and restaurant space. The development will also feature multiple outdoor dining spaces and connectivity to Bridgeland’s network of walking trails. H-E-B is scheduled to open by the end of the year, and the inline space is slated for a spring 2025 delivery. Tal McIver of McIver Properties represented H-E-B in the lease negotiations, and Eric Walker of Capital Retail Properties represented Howard Hughes.