HARRISBURG, PENN. – Institutional Property Advisors (IPA), a division of Marcus & Millichap, has been retained as the exclusive advisor for the sale of The Shoppes at Susquehanna Marketplace, a 110,365-square-foot shopping center in Harrisburg. The property is listed at $38.2 million. Bill Rose, Mark Taylor and Rick Lechtman of IPA are representing the seller, an institutional advisor. The Shoppes at Susquehanna is home to tenants such as Athleta, Banana Republic, Chico’s, J. Crew, JoS A. Banks, Harvest Seasonal Grill & Wine Bar, Loft, Ramano’s Macaroni Grill, Talbots, White House Black Market and Williams-Sonoma.
FRANKLIN PARK, N.J. – Marcus & Millichap has arranged the sale of Somerset Plaza Shopping Center, a retail property located on 8.99 acres at 3151 Route 27 retail corridor in Franklin Park. A private investor acquired the property for $12.8 million. Eleven tenants, including Good Fortune, Dollar General, Papa John’s Pizza and PNC Bank, occupy the 67,530-square-foot shopping center. Alan Cafiero, Brent Hyldahl and Ben Sgambati of Marcus & Millichap represented the buyer in the deal.
FLINT, MICH. — Signature Associates has negotiated the sale of a 180,000-square-foot retail property in Flint for an undisclosed price. The building is located at 4403 Clio Road. The sale is part of a federal court seizure. Grant Bruce of Signature Associates represented both the seller, Treasure Enterprise LLC, and the buyer, Rock Property Management LLC. The buyer is in the process of getting the property rezoned for industrial use.
GRAND RAPIDS, MICH. — South Korean-based restaurant chain Bonchon is opening its first Michigan location at the Knapp North retail development located at 2365 E. Beltline Ave. in Grand Rapids. The restaurant, whose signature dish is Korean fried chicken and wings, will occupy 2,644 square feet. Pinnacle Construction Group is constructing the three-building development. Other tenants include Sherwin Williams and Sara’s Sweets. Doug Taatjes and Hillary Taatjes-Woznick of NAI Wisinski of West Michigan represented Pinnacle in the lease transaction. Chris Prins of Colliers International represented Bonchon.
ALLEN AND CARROLLTON, TEXAS — Disney Investment Group (DIG) has brokered the sale of two shopping centers totaling 57,135 square feet in metro Dallas for a combined $17.1 million. The sold assets include McDermott Towne Crossing, a 42,651-square-foot, Kroger-anchored shopping center in Allen, and Carrollton Retail Center, a 14,484-square-foot center in Carrollton. David Disney and Adam Crockett of DIG represented the seller, Los Angeles-based Westwood Financial Corp., in the transaction. The duo also procured the buyer of both centers, a Texas-based private investor.
LUFKIN, TEXAS — Marcus & Millichap has closed the sale of Lufkin Plaza, a 5,943-square-foot retail center in Lufkin, roughly halfway between Houston and Shreveport, La. Philip Levy of Marcus & Millichap represented the buyer, a Texas-based investor that acquired the property via a 1031 exchange. A West Coast-based investor sold the center, which was 100 percent leased at the time of closing.
HAMPTON, PA. – Marcus & Millichap has arranged the sale of a retail property located at 5161 William Flynn Highway in Hampton. A private investor acquired the property from a developer for $2.3 million. Dunkin’ Donuts and Heartland Dental occupy the 4,200-square-foot property. Ben Sgambati and Alan Cafiero of Marcus & Millichap represented the seller, while David Cafiero, Sgambati and Cafiero represented the buyer in the deal.
SAN ANTONIO — Cruising Kitchens, a fabricator of food trucks and mobile offices, will open a 61,000-square-foot production facility in San Antonio on May 18. The facility will be located at 2100 Mannix Drive near the San Antonio International Airport on the city’s north side, and will include an interactive lobby, viewing windows and a showroom.
HOUSTON AND SUGAR LAND, TEXAS — Breakfast chain The Toasted Yolk Café will open two additional restaurants in the Houston area, including a 5,000-square-foot restaurant in the Galleria area of Houston and a 5,954-square-foot restaurant in the southwestern suburb of Sugar Land. The Toasted Yolk will have seven locations in Houston following the opening of these venues, both of which are slated for August. Paul Vernon of Henry S. Miller Brokerage Co. represented The Toasted Yolk in the lease negotiations for the new spaces.
SAN ANTONIO — Retail Properties of America Inc. (RPAI) has secured two new retail leases totaling 7,300 square feet at Huebner Oaks, a 285,000-square-foot, open-air shopping destination in San Antonio. Jeweler James Avery will open a 6,100-square-foot store and francesca’s, a women’s clothing and accessories retailer, will open a 1,200-square-foot store. The stores are scheduled to open in the summer of 2018 and early 2019, respectively.