SCIO TOWNSHIP, MICH. — Forum Group, an NAI Farbman Group partner, has arranged the sale of an 8,000-square-foot retail building in Scio Township, five miles west of Ann Arbor. The sales price was not disclosed. The Class A building is located at 120 S. Zee Road, and is fully occupied by Starbucks, Jimmy John’s, Verizon and Kim’s Spa. Thomas D. Lasky of Forum Group represented the buyer, LPH Ventures LLC. Marcus & Millichap represented the undisclosed seller.
CARROLLTON, TEXAS — The Vitorino Group has closed the sale of Hebron Parkway Shopping Center, a 17,836-square-foot strip retail center in Carrollton, a northern suburb of Dallas. Bryce Gissler of Vitorino Group listed the property on behalf of the seller, an undisclosed private investor. The name and representative of the buyer, also a private investor, were not disclosed. The property was 100 percent leased at the time of sale.
BOSTON — Cottonwood Management Group is opening a new Boston regional office at 101 Seaport Blvd. in the city’s Seaport district. The California-based asset management and development company has also commenced pre-construction on its Seaport Square Parcel M1M2 development, which is located next door. The M1M2 project consists of 1 million square feet of mixed-use development over 3.5 acres in Seaport Square. The residential component includes 730-plus units in two condominium towers and one luxury rental tower. In addition to the residences, the project includes 125,000 square feet of two-story retail and restaurants centered around a vibrant public courtyard. Construction is scheduled to span three years with phased completion dates in late 2019 to early 2020. In addition to serving as its regional office, part of Cottonwood’s Seaport Boulevard space will be used as the sales center for the project’s residential component. The company is preparing for an official groundbreaking for the project in May.
SPRINGFIELD, PA. — Colliers International has arranged the $7.4 million sale of a multi-building, 5.5-acre retail parcel located at 5202 Baltimore Pike in Springfield. BET Investments bought the property, which is situated on a signalized corner at Baltimore Pike and Oak Avenue. Burlington Stores Inc. was the seller. Plans call for the site to be redeveloped for retail uses. The Colliers retail team of Todd Sussman and Josh Goldfine represented Burlington Stores. Colliers’ Rich Weitzman represented BET Investments.
CHANTILLY, VA. — Regency Centers Corp. has broken ground on The Field at Commonwealth, a $44.5 million, 180,000-square-foot shopping center located at the intersection of U.S. Highway 28 and Westfields Boulevard in Chantilly, roughly 25 miles west of Washington, D.C. The project will be anchored by a 120,000-square-foot Wegmans, a Rochester, N.Y.-based chain that operates large, upscale supermarkets. Regency Centers plans to deliver the shopping center in 2018.
LEAGUE CITY, TEXAS — Marcus & Millichap has closed the sale of Westover Plaza, a 50,962-square-foot shopping center located at 6011 W. Main St. in League City, about 25 miles southeast of Houston. Justin Miller, Derek Hargrove and Davis Hansen of Marcus & Millichap represented the seller, a local developer. The name and representative of the buyer, a private investor, were not disclosed.
ADDISON, TEXAS — Retail Solutions, a Texas-based brokerage firm, has negotiated a 10,641-square-foot lease at Addison Preschool, located at 14450 Marsh Lane in Addison, a northern suburb of Dallas. Brian Sladek and Chris Flesner of Retail Solutions represented the landlord, an undisclosed party. Riis Christensen of Transwestern represented the tenant, ELS Language Centers, which offers English language classes to people all over the world.
FLORHAM PARK, N.J. — A new Pastosa Ravioli restaurant has opened in Regency Plaza at 186 Columbia Turnpike in Florham Park. With stores already open in New York City, Cranford and Manalapan, N.J., the Florham Park location became Pastosa’s 11th overall. Pastosa is a family-owned business specializing in ravioli and specialty Italian products, sauces, mozzarella cheese and prepared foods. Alison Horbach of Ripco Real Estate identified the location and brokered the transaction on behalf of Pastosa. Florian Suserman, also of Ripco, represented the owners of Regency Plaza.
SAN DIEGO — Petco, a San Diego-based pet supplies retailer, has announced plans to open 12 new storesduring March 2017. Each new store will offer dog training areas, adoption centers and grooming salons. New store locations include Denver and Marana, Ariz. Petco has more than 1,500 Petco and Unleashed by Petco locations across the United States, Mexico and Puerto Rico.
DECATUR, GA. — Sprouts Farmers Market has opened its newest 30,000-square-foot store at 2551 Blackmon Drive in Decatur, a suburb of Atlanta in DeKalb County. The Phoenix-based natural and organic grocer plans to open two other stores in metro Atlanta: a Tucker location that will open in April and a Woodstock store that will open in June. With these three new stores, Sprouts will have a total of 16 locations in the metro Atlanta area. The grocer currently operates more than 250 stores in 13 states.