ST. PETERS, MO. — Developer GBT Realty Corp. is nearing completion of The Shoppes at Mid Rivers, a 270,000-square-foot shopping center in St. Peters, a suburb of St. Louis. The project is the largest retail development in the St. Louis metro area in nearly a decade, according to GBT. Burlington, Marshalls, HomeGoods and Aspen Dental are set to open at the property in September. Academy Sports + Outdoors and Famous Footwear will open in October. Ross, OshKosh B’gosh, Five Below and Nail Lounge will open in the first quarter of 2018. Approximately 30,000 square feet of space remain available for lease. Knoebel Construction Inc. served as general contractor.
EGG HARBOR TOWNSHIP, N.J. — Wolfson Group has announced that Walmart Supercenter has opened as the anchor tenant at Oak Tree Plaza in Egg Harbor Township. The retailer occupies approximately 188,463 square feet at the shopping center. Adjacent to Walmart, approximately 35,200 square feet of retail space is under construction for Petco, Planet Fitness and KicksUSA. Smaller store space for Starbucks Coffee, Sally Beauty Supply, T-Mobile, Coco Nails and Chick-fil-A is in the construction phase. These tenants are slated to open in the first quarter of 2018.
FOLSOM, CALIF. — Marcus & Millichap has arranged the sale of Walmart Central Shopping Center, a retail property located at 1002-1016 Riley St. in Folsom. A private investor sold the property for $39.6 million. Built in 1992, the property features 139,277 square feet of retail space. Tyler Stevens of Marcus & Millichap represented the seller. The name of the buyer was not released. Kent Williams, also of Marcus & Millichap, is the broker of record in California.
WALNUT PARK, HUNTINGTON PARK AND HAWTHRONE, CALIF. — CBRE has arranged the sales of three 99 Cents Only stores in Walnut Park, Huntington Park and Hawthorne. The combined transaction value of the sales is $12.4 million. M&M Investments purchased the 7,943-square-foot location at 2566 E. Florence Ave. in Walnut Park, while Aria Venture Capital acquired the 15,000-square-foot property at 6124 Pacific Blvd. in Huntington Park and the 15,000-square-foot location at 13023 Hawthorne Blvd. in Hawthorne. All three locations are occupied by 99 Cents Only on a 10-year, triple-net lease basis. Alex Kozakov, Patrick Wade and Matthew Greenberg of CBRE represented the sellers, HKL Gold Inc. and AU Zone Investments #2 LP, on all three deals.
ONTARIO, CALIF. — Infiniti of Montclair has acquired a four-acre land parcel on Inland Empire Boulevard at the Meredith International Centre in Ontario for $4.9 million. The buyer plans to relocate its existing car dealership to a new facility. Construction is slated to be completed in 2018. Chuck Noble, John Hatzis, Dave Hunsaker and Brett Meredith of Lee & Associates represented the buyer and seller, Craig Development Corp., in the deal.
CHULA VISTA, CALIF. — Sweet Kream Froyo is opening a location at Heritage Town Center, located at 1392 E. Palomar St. in Chula Vista. The frozen yogurt shop leased 1,215 square feet of space at the mixed-used project, which Paragon Real Estate Fund owns. The location is slated to open in September. Joe Yetter of Cushman & Wakefield represented the tenant and landlord in the deal. Heritage Town Center features 38,000 square feet of ground-floor retail space and 91 residential units.
THOUSAND OAKS, CALIF. — NewMark Merrill Cos. has signed a new restaurant at Janss Marketplace, a shopping center located at the Moorpark Road and Hillcrest Drive in Thousand Oaks. Azi Grill, owned by Mazen Nadour, will feature Mediterranean cuisine, as well as American fare.
South Texas is in the midst of a growth spurt in the commercial real estate industry. Within the area’s retail sector, demand for freestanding emergency rooms and cold storage facilities is growing rapidly. Though atypical, requests for such spaces are becoming increasingly common in the Rio Grande Valley (RGV). An estimated 1.3 million people call the RGV home. Both Hidalgo and Cameron counties are equipped with multiple hospitals to meet the healthcare needs of residents. There are three freestanding emergency rooms in Hidalgo County and two in Cameron County, with several more currently in the pipeline. Three of the larger healthcare providers within the RGV — Doctor’s Hospital at Renaissance in Edinburg (the largest hospital in the area), South Texas Health System, which has five hospitals in cities McAllen and Edinburg and HCA Hospital in McAllen — all have plenty of emergency rooms to cover the cities they serve. Between Harlingen and Brownsville, both the longstanding Valley Baptist Health System and the newer Harlingen Medical Center have plenty of emergency rooms to handle residents’ healthcare needs. Despite having this many established players in the market, new operators of healthcare real estate like Neighbors Health System, which owns and operates Neighbors …
PHOENIX — Popbar, a maker of frozen treats founded in New York City in 2010, has opened its first location in Phoenix at Westgate Entertainment District. The company currently has 24 locations. Popbar has 12 stores in the U.S., in states such as New York, California, North Carolina and Florida, and 12 stores internationally in countries like Canada, Panama, Singapore and Russia. There are currently seven stores under construction in new territories, with more planned. Popbar’s Phoenix location is the third to open this year. Popbar serves handcrafted gelato, sorbetto and yogurt on a stick. All pops are made in-house daily with all natural ingredients.
NEW YORK CITY — Kamber Management Co. has entered into a contract to acquire the Riverside Garage portfolio of parking facilities on Manhattan’s Upper West Side for an $50 million. The 916-parking stall portfolio consists of three parking garages located at the base of five residential towers located at 80, 100-120 and 220-240 Riverside Blvd. The properties are fully leased to Icon Parking Systems, a garage operator in New York City. David Schechtman of Meridian Capital Group represented the undisclosed seller, while Steven Levy of Kamber Management represented the buyer in the deal.