WAIMAE, HAWAII — BH Properties has acquired The Shops at Mauna Lani, an open-air retail center at the entrance of Mauna Lani resort in Waimae. Terms of the transaction were not released. Tommy Bahama Restaurant & Bar, Island Hopper Taproom, Mauna Lani Coffee Co., Hawaiian Island Creations and Woodland Farms are tenants at the 75,000-square-foot property.
ORLAND PARK, ILL. — McCollom Realty Ltd. has sold El Cameno Plaza in Orland Park after owning it for 38 years. The retail property at 9931-9985 W. 151st St. features a 54-year lease with 7-Eleven, making it one of the longest 7-Eleven tenancies in the world. Five other tenants occupy the center as well. W.R. “Terry” McCollom, president of McCollom Realty, completed the sale.
NAPERVILLE, ILL. — Crunch Fitness franchise owner JEM Wellness Brands has selected Fox River Commons for its inaugural location in Naperville, marking its second in the greater Chicago market. The tenant signed a lease with Continental Realty Corp. (CRC) for 32,744 square feet and will occupy the former Bed Bath & Beyond space within the 241,524-square-foot shopping center. Cherene Keenan represented CRC on an internal basis, while Newmark’s Holly Estler, Larry Kling and James Schutter represented the tenant. Crunch Naperville is expected to open this fall.
CONROE, TEXAS — JLL has negotiated the sale of Montgomery Plaza, a 315,708-square-foot retail power center located in the northern Houston suburb of Conroe. Anchored by Academy Sports + Outdoors, the center is also home to tenants such as O’Reilly Auto Parts, Crunch Fitness, Spec’s Liquor, Petco and Dollar Tree. Ryan West and John Indelli of JLL represented the undisclosed seller in the transaction. The buyer was Florida-based investment firm JBL Asset Management. The center was approximately 94 percent leased at the time of sale.
DALLAS — IKEA has opened a 63,000-square-foot store at The Shops at Park Lane, a 33-acre mixed-use development in North Dallas. The small-format store is located on the second level of the center, across from Old Navy and next to American Girl, Champs and Nordstrom Rack. Other retailers that have recently opened stores at The Shops at Park Lane include Connect Studio DFW, Intuit Turbo Tax and Crème + Crepes. Northwood Retail owns the property.
LEANDER, TEXAS — Nashville-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 12,000-square-foot academic building in Leander, a northern suburb of Austin. The building at 441 W Broade St. is leased to Kindercare Learning. Bryce Wong and Patrick Graham of Matthews brokered the deal. The buyer and seller were not disclosed. Matthews also arranged a $5.2 million acquisition loan for the transaction through an undisclosed regional bank.
NORTH BRUNSWICK, N.J. — Ace Pickleball Club has opened a 26,500-square-foot athletic facility in North Brunswick, about 40 miles southwest of Manhattan. The space is located within the 288,000-square-foot Brunswick Shopping Center, and the club will offer flexible, all-inclusive membership options for players, as well as host private events and corporate outings. Fred Younkin of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Marta Villa of CBRE represented Ace Pickleball.
MADISON, MISS. — SRS Real Estate Partners has brokered the $9.4 million sale of a single-tenant retail property leased to Academy Sports + Outdoors located in Madison, about 15 miles north of Jackson. Michael Berk, Patrick Nutt and Chip Watson of SRS represented the Louisiana-based private seller. The buyer was a publicly traded REIT. Both parties requested anonymity. Built in 2017 on about 7 acres, Academy Sports occupies a 64,626-square-foot building on a corporate-guaranteed lease with eight years remaining. Nearby retailers include Lowe’s Home Improvement, Office Depot, Walmart Supercenter and The Home Depot, among others.
PALMDALE, CALIF. — SRS Real Estate Partners has arranged the sale of a two-tenant retail property located at 39112-39228 10th St. West in Palmdale. A family office sold the asset to a Southern California-based private investor for $13.5 million. Smart & Final and Barnes & Noble occupy the 58,652-square-foot property. Built in 1999 on 4.1 acres, the property is situated within Palmdale Marketplace, a 214,000-square-foot power center. Matthew Mousavi and Patrick Luther of SRS Capital Markets represented the seller in the transaction.
DENVER — JLL Capital Markets has arranged the sale of Washington Center, a shopping center located at 812-858 E. 120th Ave. and 11874-11890 Washington St. in Denver. Northglenn LLC sold the property to a local investment firm for $10.3 million. At the time of sale, the 50,445-square-foot center was 92 percent leased with 19 tenants across 21 suites. Current tenants include CSL Plasma, Smashburger, Subway and established local businesses. Jason Schmidt and Austin Snedden of JLL represented the seller in the transaction. Rob Bova of JLL arranged a fixed-rate loan from a bank for the buyer.
