MILFORD, N.J. — Marcus & Millichap has brokered the sale of Holland Center, a neighborhood shopping center located at 621-641 Milford Warren Glen Road in Milford. A private buyer acquired the asset for $2 million. Situated on 5 acres, the 10,777-square-foot property was fully occupied by six tenants at the time of sale. Derrick Dougherty, Mark Krantz and Shannon Bona of Marcus & Millichap represented the seller, while Mark Taylor, also of Marcus & Millichap, represented the buyer in the deal.
CHARLOTTE, N.C. — The Shopping Center Group has unveiled the tenant lineup for the retail portion of One305 Central, a $53 million adaptive reuse development located approximately one mile northeast of Charlotte’s Uptown district. The developer, TriBridge Residential, has selected The Shopping Center Group to be the exclusive leasing representative for the retail portion of the project. The new tenants include: Yafo Kitchen, a fast-casual Mediterranean restaurant that will occupy 3,500 square feet; TRUE Crafted Hospitality Group, a fast-casual concept that will occupy 4,200 square feet and feature traditional diner fare; and Pilot Brewing Co., a local nano-brewery specializing in small-batch, experimental beer. Pilot Brewing’s nearly 1,900-square-foot space will include a tasting room. The retailers are expected to open next spring. In addition to retail, One305 Central includes 281 residential units. The first phase of the residential portion is 95 percent preleased and 85 percent occupied, and the second phase is slated for completion in October. The commercial building was originally built in the 1960s and 70s. Hood Architecture designed the updated commercial space, and Roper Construction served as the general contractor. TriBridge originally acquired the five-acre site in 2014 for $7.8 million.
LOS ANGELES — Westfield Corp., a mixed-use developer based in Sydney, Australia, is opening its $1 billion redevelopment of Westfield Century City mall in the Century City district of Los Angeles on Tuesday, Oct. 3. Westfield expects the open-air development to have the majority of its more than 200 shops and restaurants open for the event, including a new three-level Nordstrom. The 1.3 million-square-foot development will also feature a remodeled, three-level Bloomingdale’s, a new two-level Macy’s and an Equinox fitness club and spa. The center’s new and existing dining options include Bibigo, California Pizza Kitchen, Chick-fil-A, Chipotle, Everytable, Lifehouse Tonics + Elixirs, Panda Express, Randy’s Donuts, See’s Candies, Shake Shack, Wexler’s Deli and the West Coast’s first Eataly, an Italian market concept that will open later in the month. Eataly will feature multiple restaurants, food and beverage counters, retail items and cooking classes. In addition to the department store anchors and existing AMC movie theater, new and existing retailers include Apple Store, Banana Republic, Disney Store, J. Crew, Kate Spade New York, Madewell, Microsoft, SUITSUPPLY, Tory Burch and Warby Parker. Westfield’s in-house design studio worked with Los Angeles-based designer Kelly Wearstler to redesign the project’s outdoor plazas, landscaped terraces and …
HOUSTON — Results Physiotherapy, a Tennessee-based physical therapy operator with more than 130 clinics across nine states, will soon open four new locations in the Houston area. The new clinics will be located at 2900 Weslayan St. in River Oaks; at Market Town Center in Sugar Land; at Town Square Shopping Center on the city’s west side; and at 4660 Beechnut St. in Meyerland. Jamie Weaver of EDGE Realty Partners represented Results Physiotherapy, which will now operate eight locations in the Houston area, in all lease negotiations. .
KILLEEN, TEXAS — Conn’s Home Plus, a furniture and home appliances retailer based in The Woodlands, will open a 45,000-square-foot location in Killeen, roughly midway between Austin and Waco. The store will be situated within Wendland Plaza, a 192,322-square-foot retail center located at the corner of State Highway 190 and Fort Hood Street. Grant Gary and Dan Rebensdorf of The Woodmont Co. represented the landlord in the lease negotiations.
NEW YORK CITY — The Greater Jamaica Development Corp. has selected a joint venture between BRP Cos. and Wharton Properties to purchase and develop a site located at 90-02 168th St. in the Queens’ neighborhood of Jamaica. The open-air parking lot will become an approximately 500,000-square-foot development with more than 300 mixed-income residential units and more than 70,000 square feet of retail space. Construction is slated to begin in the second half of 2018.
CHARLESTON, S.C. — Fort Lauderdale, Fla.-based Stiles has signed Publix to anchor Point Hope Commons, a 90,000-square-foot shopping center located within Cainhoy Plantation, a mixed-use community under development in Charleston. Point Hope Commons will be designed with a low country architectural theme and feature spaces for gathering and dining, with direct frontage along Clements Ferry Road. Stiles’ development team based in the company’s Charlotte office is managing the Point Hope Commons portion of the project, and Eric Meyer and Fritz Meyer of Meyer Kapp & Associates are providing property leasing representation. DI Development Co. is managing Cainhoy Plantation, which is being developed by combination of Guggenheim corporate and family interests. Upon completion, Cainhoy Plantation will include up to 9,000 single-family residences, a 264-unit apartment community and over 500 acres of retail, restaurant and office space.
NEW HAVEN, CONN. — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of The Novella, a mixed-use property located in New Haven. 1245 Chapel Street LLC acquired the property from RMS Chapel Street for $39.6 million. The Novella features 136 apartment units above the 1,135-square-foot Chapel Street Pharmacy, 3,380 square feet of available retail space and 85 parking spaces. Victor Nolletti, Steve Witten and Eric Pentore of IPA represented the seller and procured the buyer in the deal.
FORT MILL, S.C. — Preferred Apartment Communities (PAC) has purchased West Town Market, a 67,883-square-foot shopping center in Fort Mill, a South Carolina suburb of Charlotte, for $14.3 million. PAC acquired the asset through its wholly owned subsidiary New Market Properties LLC. Thomas Kolarczyk, Richard Reid, Ted Hill and Mike Allison of HFF represented the seller, Retail Properties of America Inc. Ed Coco and Matt Casey of HFF secured an eight-year, $9 million loan with a 3.65 percent interest rate through Nationwide Life Insurance Co. on behalf of New Market Properties. A 48,220-square-foot Harris Teeter grocery store anchors West Town Market, which is located in the Highway 160 corridor. The retail center is also home to Pizza Hut, Great Clips and The UPS Store. The acquisition of West Town Market increases New Market’s retail portfolio to 37 grocery-anchored shopping centers across seven states.
GULF BREEZE, FLA. — Publix Super Markets Inc. has acquired Sea Shell Collections, an 87,125-square-foot shopping center in the Pensacola community of Gulf Breeze, for $18.6 million. Publix anchors the center, which was 90.5 percent leased at the time of sale to tenants including Publix Liquor, Super Cuts, RE/MAX on the Coast, Coastal Paddle Co. and Pizzaz Personalized Gifts. Brad Peterson, Whitaker Leonhardt and Michael Brewster of HFF represented the undisclosed seller in the transaction.