SANTA ANA, CALIF. — Lee & Associates has arranged the $4.7 million sale of Grovemont Square, a 29,030-square-foot shopping center located in Santa Ana. Jon Selznick and Brant Dorman of Lee & Associates represented the seller, an undisclosed private investor based out of Encino. Selznick and Dorman also represented the buyer, an undisclosed private investor out of Commerce. The property was 85 percent occupied at the time of sale.
LOS ALTOS, CALIF. — Kisco Senior Living has started the $4 million renovation of BridgePoint at Los Altos, a seniors housing community in the San Francisco suburb of Los Altos. Renovations include a new covered entry, large gathering space, new bistro café and courtyard, along with a refreshed lobby, living room and library. Kisco will also improve the interior corridors and exterior landscaping and parking areas. Kisco acquired BridgePoint in 2001. The California-based owner-operator has eight locations in California, plus 14 other locations in seven states.
GREELEY, COLO. — dd’s DISCOUNTS, a division of Ross Stores Inc., has opened its first store in Colorado. The 20,000-square-foot store is located in the University Square Plaza in Greeley, north of Denver. This new location is part of the company’s 2016 expansion plan to add approximately 20 dd’s DISCOUNTS locations nationally throughout the year. With this opening, dd’s DISCOUNTS now operates 193 locations in 15 states. Ross Stores is headquartered in Dublin, Calif.
GRAND PRAIRIE, TEXAS — IKEA is set to build its second Dallas/Fort Worth area store, opening in Grand Prairie in Fall 2017. Groundbreaking is scheduled for October. Mycon General Contractors will serve as construction manager; Segovia Retail Group is handling site selection support; Winkelmann and Associates is the civil engineer; KJWW Engineering Consultants is the structural engineer; and GreenbergFarrow is the architect. The store will employ more than 300. The 290,000-square-foot IKEA Grand Prairie and its 1,100 parking spaces will be built on 30 acres along the east side of State Highway 161 and Mayfield Road.
AUSTIN, TEXAS — Endeavor Real Estate Group and Northwood Investors have announced new tenants at Domain Northside, a mixed-use development in Austin including retail, dining and entertainment. The newly announced tenants include: Hat Creek Burger Co., Golden Bones, Engel & Völkers, 24 Diner, Orangetheory Fitness, Jose Luis Salon, Sway, Velvet Taco, Erin Condren, Nordstrom, RH Austin The Gallery at The Domain, Free People, Planet Blue, Peloton, Warby Parker, Suitsupply, Bonobos, Filson, It’Sugar, NYX, Lush, Scout & Molly’s Boutique, Life is Good, Doc B’s, Kittsona, W3ll People, Teddies for Bettys, Kelly Wynne, Everything But Water, Pirch, AT&T, Will Leather Goods, Marine Layer, Mitchell Gold + Bob Williams, The Frye Co., Stag, Sprinkles, Paul Martin’s Austin Grill, Guideboat, Toulouse, Taverna, Cyclone Anaya’s, Culinary Dropout, Flower Child, Sur La Table, SoulCycle, Kiehl’s, diptyque, Francesca’s, Sephora, Sugarfina, Marmi, Hanna Andersson, Evereve, Alex and Ani, Frost Gelato, Eliza Page, The Body Shop, Paper Source, Saint Bernard, Bank SNB and Upscale Lashes. The developers will host grand openings at Domain Northside on Friday, Sept. 30 and Saturday, Oct. 1.
CARROLLTON, TEXAS — Colliers International has arranged the sale of The French Quarter, an office complex in Carrollton. Greg Hoffman, Michael Carmichael, Chris Lipscomb and Lindsay Wolcott of Colliers represented the unnamed seller in the transaction, while Justin Owen of Dominus Commercial represented the buyer. The French Quarter totals 46,444 square feet and is located at 3610-3630 N. Josey Lane. The property consists of five single-story and two-story office buildings located near President George Bush Turnpike, I-35 and Highway 121.
DALLAS — Consolidated-Tomoka Land Co. has acquired 0.91 acres at 2501 N. Field St. in Dallas for $14.9 million. The property is leased to a 10,340-square-foot CVS Pharmacy for an initial term of 25 years and guaranteed by CVS Health Corp. The property is located near downtown Dallas one block from the American Airlines Center. The zoning of the property allows for potential future development of approximately 400,000 square feet of commercial space. This acquisition was part of a 1031 tax-deferred exchange.
GARLAND, TEXAS — The Vitorino Group has brokered the sale of Take 5 Oil Change on Forest Lane in Garland. The Vitorino Group represented the seller, a Dallas-based partnership, and cooperated with an outside broker that represented the buyer, a local investor. A local bank provided financing.
MERRITT ISLAND, FLA. — NGKF Capital Markets has arranged the $33 million sale of Merritt Square Mall, an 811,277-square-foot regional mall located at 777 E. Merritt Island Causeway in Merritt Island. Macy’s, Sears, Dillard’s, JC Penney and Cobb Theatres anchor the mall, which is also home to tenants including Bath & Body Works, Kay Jewelers, Rue21, Finish Line, Victoria’s Secret and Journeys. Thomas Dobrowski of NGKF represented LNR Partners and John Mitchell in the sale of the property to Mason Asset Management and Namdar Realty Group. The property was 95.7 percent leased at the time of sale.
TAMPA, FLA. — Canyon Partners Real Estate LLC has provided $15.4 million of preferred equity to a joint venture between ECI Group and Mercury Advisors to develop The Channel Club in Tampa. The 22-story, Class A apartment high-rise will include 323 rental units totaling approximately 295,000 leasable square feet and a seven-story parking garage with 596 spaces. The project also will include construction of a 36,900-square-foot Publix grocery store. The 2.26-acre site is located in the Channel District, directly adjacent to downtown Tampa, one of Tampa’s fastest growing multifamily submarkets. Project construction is scheduled to begin this October and be completed in December 2018. The property is bordered by Twiggs Road, Meridian Avenue and Madison Street. It is adjacent to the Grand Central at Kennedy, a mixed-use condominium, office and retail property developed by Mercury Advisors, for which Canyon provided a $27.4 million non-recourse senior loan in June 2012.
