REBusinessOnline

Tavistock, Steiner + Associates Sign Movie Theater Chain to Orlando’s Lake Nona Town Center

ORLANDO, FLA. — Tavistock Development Co., in partnership with Steiner + Associates, has signed Cinépolis USA, a Dallas-based movie theater chain, to Lake Nona Town Center, a 100-acre mixed-use development that anchors the master-designed Lake Nona community in Orlando. Cinépolis will open a nine-screen, 40,000-square-foot theater at Lake Nona Town Center in 2020, anchoring the project’s second phase of development. The luxury theater will feature a lobby bar and lounge; stadium-style, …

Marcus & Millichap Brokers $2.3M Sale of Retail Property in New Jersey

SOMERVILLE, N.J. — Marcus & Millichap has brokered the $2.3 million sale of a 13,000-square-foot retail property in Somerville. Alan Cafiero, Ben Sgambati and Brent Hyldahl of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was undisclosed. The two-story building is located at 130 W Main St. in downtown Somerville and is currently occupied by Stickley Furniture

McDonald’s Opens New Flagship Restaurant in Chicago

CHICAGO — McDonald’s has opened its newly designed flagship restaurant at Clark and Ontario streets in Chicago. The modern and environmentally friendly design features self-order kiosks, table service, mobile order and payment and delivery. The 19,000-square-foot restaurant includes green spaces and energy-saving features such as a vegetated rooftop, on-site solar panel array for renewable energy collection, LED lighting and more than70 trees at the ground level. Chicago-based Ross Barney …

Quantum Brokers $1.9M Sale of Retail Building in Indianapolis

INDIANAPOLIS — Quantum Real Estate Advisors Inc. has brokered the sale of a 5,936-square-foot retail building in Indianapolis for $1.9 million. The multi-tenant property is located at 1950 Kessler Blvd. Tenants include Starbucks, Verizon and Subway. Jack Farritor of Quantum brokered the transaction. A Washington, D.C.-based investment group was the buyer. A Phoenix-based developer was the

NavPoint Real Estate Negotiates $6.5M Sale of Mixed-Use Property in Boulder

BOULDER, COLO. — NavPoint Real Estate Group has arranged the sale of a multi-tenant retail/medical office property located at 3280-3300 28th St. in Boulder. REM Investment sold the property to Peterman Properties for $6.5 million. The property features 39,368 square feet of retail and medical office space. John Witt and Matt Call of NavPoint Real Estate Group represented the seller in the

KRA Management Acquires Office Tower in Downtown Cleveland

CLEVELAND — KRA Management has acquired the Galleria and Tower at Erieview in downtown Cleveland. The purchase price was not disclosed, but local media report the sales price was approximately $17 million. The property includes a 760,339-square-foot office tower and a 93,663-square-foot retail center. The 40-story property is the fourth-tallest building in Cleveland and features amenities such as a 40,000-square-foot YMCA fitness facility. The retail portion of the property includes a …

PREIT Signs Three Tenants to Backfill Former Macy’s at Plymouth Meeting Mall in Philadelphia

PHILADELPHIA — Pennsylvania Real Estate Investment Trust (PREIT) has inked leases with three new tenants at Plymouth Meeting Mall in Philadelphia. Burlington, Dick’s Sporting Goods and Edge Fitness will open locations at the mall in spring 2019, backfilling the space formerly occupied by Macy’s. PREIT is also negotiating leases with an arts and crafts purveyor and a craft brewery. Current tenants at Plymouth Meeting Mall include LEGOLAND Discovery Center, Dave & Buster’s, Bath …

EDGE Realty Brokers Sale of Two Retail Centers in Southern Louisiana

NEW IBERIA, LA. — EDGE Realty Capital Markets has arranged the sale of two shopping centers in New Iberia: Lagniappe Village and Iberia Plaza. Lagniappe Village totals 201,360 square feet and is home to tenants such as T.J. Maxx, Big Lots, Citi Trends and PetSmart. The center was 92 percent leased at the time of sale. The 131,630-square-foot Iberia Plaza was 99 percent leased at the time of sale. Super 1 Foods anchors the center. EDGE arranged the transaction on behalf of the seller, Brixmor …

Hanley Investment Group Arranges $10.3M Sale of Shopping Center in Sacramento

SACRAMENTO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Natomas Shopping Center in Sacramento. A Bakersfield-based private investor sold the property to another private investor for $10.7 million in an off-market transaction. CVS/pharmacy, Ace Hardware and Dollar Tree anchor the 50,168-square-foot property. Built in 2007, the asset is situated on 7.5 acres at 2000-2050 Club Center Drive. At the time of sale, the retail center was 100 percent …

Store Capital Corp. Acquires Big-Box Retail Building in Arizona for $3.4M

CHANDLER, ARIZ. — Scottsdale-based Store Capital Corp. has purchased a big-box retail property located at 1200 N. Alma School Road in Chandler. Five Sons Furniture AZ LLC sold the building for $3.4 million. Ray Cashen of Cashen Realty Advisors represented the seller in the deal. Situated on 6.8 acres, the property features 62,286 square feet of space. VASA Fitness, the tenant, plans to invest $3 million in improvements at the property to convert it into a state-of-the-art health club …