COSTA MESA, CALIF. — Philip Voorhees of CBRE has arranged the $13.8 million sale of Newport 17th Plaza, a 28,450-square-foot retail center anchored by Chase Bank, Growers Direct and The Butchery in Costa Mesa. The property is located at 101, 103 and 105 E. 17th St. Voorhees represented the seller, WOHL/CM LLC, while Chase Associates LLC represented the buyer, Newport 17 LLC.
OCEANSIDE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $7.4 million sale of a single-tenant Walgreens property located roughly 38 miles outside San Diego in Oceanside. The 14,380-square-foot, freestanding building is occupied under an absolute net lease. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller, a Beverly Hills-based private investor. Jason Flashman/Flashman Investment Group of Peak Commercial represented the buyer, a private investor from Northridge.
HOUSTON — Tennessee-based developer GBT Realty Corp. will develop The Shoppes of Kemah, a $16 million, 79,000-square-foot retail center that will be located along Deke Slayton Highway near State Route 146 in Houston. GBT acquired the 11.7 acres on which the center will be situated from Kemah Marketplace LP in mid-May for roughly $2.1 million. Shadow-anchored by Walmart, the center is 92 percent preleased to tenants such as Petco, Marshall’s, ULTA Beauty and Rack Room Shoes.
HOUSTON — Marcus & Millichap has brokered the sale of Copper Grove Shopping Center, a 36,645-square-foot retail center located at 8955 Highway 6 North in Houston. The sale price was not disclosed, but the property had a list price of $8.2 million. Tenants at the fully leased center include Spec’s Liquor, Pinch A Penny and Boost Mobile. Jerry Goldstein of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. Other terms of sale were not released.
CEDAR KNOLLS, N.J. — AutoZone, QuickChek and MedExpress Urgent Care have become the first tenants to open at Hanover Crossroads, an under-construction shopping center in Cedar Knolls. Additional tenants soon to open include T.J.Maxx, HomeGoods, Five Below and ULTA Beauty. Key Properties is the developer for the 107,000-square-foot project, which is now nearly 80 percent leased. Located at 110 East Hanover Ave., Hanover Crossroads is located on the former site of Berlex Laboratories. The property was rezoned from office/laboratory to retail use in 2010.
LAKEVILLE, MINN. — The Opus Group has completed construction of the newest Schneiderman’s Furniture store in Lakeville, a suburb of Minneapolis. Construction on the 110,000-square-foot retail store began in September 2016. A grand opening celebration took place in May. The furniture store features a second-story patio, which showcases outdoor furniture for sale. Located on Kenyon Avenue off Minnesota State Highway 50, the building is visible from I-35. Opus Design Build was the design-builder and Opus AE Group was the architect and structural engineer of record, as well as the interior designer for the project.
SAN DIEGO — A joint venture between Citivest Commercial Investments LLC and Hutensky Capital Partners has acquired a freestanding AMC Theatres complex in San Diego for $36 million. The property is located within Palm Promenade Shopping Center, which is home to tenants including Walmart, The Home Depot and Vons. The acquisition also included available development rights. Plans for additional development have yet to be announced.
CONSHOHOCKEN, PA. — Keystone Property Group has received zoning approvals for the development of SORA West a transit-oriented mixed-use development in the Philadelphia suburb of Conshohocken. Upon completion, SORA West will include a central plaza surrounded by a 250,000-square-foot office building, retail and dining space, a 171-key hotel, the existing Conshohocken Firehouse and a 950-space parking structure. The project will be located adjacent to the Conshohocken SEPTA train station, near Route 76 and Route 476. Keystone is now in the process of finalizing the plans and pursuing land development approvals. In addition to office, retail, hotel and community uses, the developer is assessing the viability of adding a residential component to the property. Keystone is headquartered in SORA East, which is located one block away from SORA West.
BOSTON — WS Development has hired architecture firm OMA to design a mixed-use project located at 88 Seaport Blvd. in Boston. The project, located in Boston’s Seaport District, is OMA’s first commission in the city of Boston. OMA’s Shohei Shigematsu will lead the design efforts at 88 Seaport, which upon completion will include nearly 425,000 square feet of office space, 60,000 square feet of retail on the first two floors and 5,000 square feet of civic/cultural use. Construction is slated to begin in 2018 and finish in 2020.
CORINTH, TEXAS — Davidson Bogel Real Estate has negotiated the sale of two pad sites located at the intersection of Interstate 35 and Swisher Road in the north Texas city of Corinth that will be developed into Burger King and Popeye’s locations. David Davidson Jr. and Edward Bogel of Davidson Bogel represented the seller, Provident Realty Advisors, in the transaction.