ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Courtside Plaza, a retail property located at 5920 W. Interstate 20 in Arlington. Tuesday Morning anchors the 32,012-square-foot center. At the time of sale, the property was fully leased to a mix of national, regional and local tenants. Vincent Knipp and Bill Jordan of Marcus & Millichap represented the seller, a limited liability company. The name of the buyer and the acquisition price were not released.
HOUSTON — EDGE Capital Markets has arranged the sale of a restaurant property located at 13740 East Freeway in Houston. Montgomery Land Co. acquired the property for an undisclosed price. Whataburger occupies the site on a long-term, triple-net corporate ground lease. Burdette Huffman and Kevin Holland of EDGE represented the undisclosed seller.
CHICAGO — Children’s Learning Place has leased 8,000 square feet in the base of Luxe on Chicago, a 59-unit apartment building developed by Fifield Cos. The property is located at 1850 W. Chicago Ave. Chris Irwin and Katie Whelan of Jameson Commercial LLC represented the developer in the transaction. Noah O’Neill represented the tenant, Children’s Learning Place. The early learning academy operates four other locations in Chicago.
SAN MARCOS, CALIF. — Lee & Associates has arranged the $73.4 million sale of Campus Marketplace, a 144,148-square-foot shopping center located roughly 35 miles outside San Diego in San Marcos. Tenants at the center include Ralph’s Grocery, CVS/pharmacy, Starbucks Coffee, Subway, Bank of America, UPS Store and Unleashed by Petco. Jan Fincham and Patrick Dempsey of Lee & Associates brokered the deal on behalf of the buyer, IVT San Marcos Campus LLC, and the sellers, Campus CMH LLC, 36 CMH and Campus BRB LLC. IVT San Marcos Campus LLC is an entity controlled by InvenTrust.
GLENDALE, CALIF. — DineEquity Inc., a full-service restaurant group that includes the IHOP and Applebee’s brands, has signed four new multi-unit development agreements in the Middle East, Asia Pacific and Latin America. The agreements are part of the company’s plan to double its number of international locations over the next five years. Since the beginning of 2014, 80 new international restaurants have opened. In addition, during that same time frame, DineEquity nearly tripled the international development pipeline to more than 200 restaurants. DineEquity plans to spread the IHOP to Thailand and India and extend the Applebee’s brand in the Middle East to six locations in Bahrain and Oman by 2023. The company has also planned five new Applebee’s locations in Panama by 2021. Based in Glendale, Calif., DineEquity owns, operates and/or franchises more than 3,700 restaurants in all 50 U.S. states and 17 countries.
WATERTOWN, MASS. — The Watertown Planning Board unanimously approved the development of Arsenal Yards, a mixed-use project at the former Arsenal Mall in Watertown. Developers Boylston Properties and The Wilder Cos. plan to add a mixed-use project featuring 350,000 square feet of retail and entertainment space and 500 residences to the existing 100,000 square feet of office space. Construction is slated to begin in six to eight months. The project will feature chef-driven restaurants, a specialty grocery, a wine superstore, a cinema, market-rate and affordable apartments, and a combination of boutiques and national retailers.
WARREN, N.J. — The Klein Group and Sterling Properties Group have received $17.5 million in refinancing for Warren Village Shopping Center, a grocery-anchored retail center in Warren. Loan proceeds will be used to refinance existing debt. The 10-year, fixed-rate loan was provided by a life company. Kings Supermarket, Country Squire Restaurant, Peapack-Gladstone Bank, Massage Envy, Remax, European Wax Center, Starbucks Coffee, Edgewood Pharmacy, Impact Martial Arts and The UPS Store occupy the 99.3 percent leased center. Jon Mikula and Jim Cadranell of HFF arranged the financing for the borrower.
HOUSTON — EDGE Capital Markets has arranged the sale of Briar Forest Plaza, a retail property located at 13346 Briar Forest Drive in Houston. At the time of sale, the 11,981-square-foot property was fully leased. Josh Jacobs and Burdette Huffman of EDGE Capital Markets represented the undisclosed seller, while Mark Kalil of Mark Kalil & Associates represented the undisclosed buyer in the deal. The acquisition price was not released.
ZANESVILLE, OHIO — Time Equities Inc. (TEI) has acquired Colony Square Mall in Zanesville, 50 miles east of Columbus, for $31.5 million. The 425,430-square-foot shopping mall is located at 3575 Maple Ave. Tenants include TJ Maxx, Shoe Carnival, Planet Fitness, JC Penney and more. TEI’s Ami Ziff, Jonathan Kim and Adam Levitt represented the company in the acquisition. Margaret Caldwell and Eric Spencer of Jones Lang LaSalle represented the seller, Rouse Properties. Urban Retail Properties LLC will oversee the management, marketing and leasing operations on behalf of TEI.
CARMEL, IND. — Veritas Realty has negotiated leases for Planet Fitness and Homenclature at Merchant’s Square in Carmel, a suburb of Indianapolis. The shopping center is located at 2192 E. 116th St. Planet Fitness leased 16,860 square feet and Homenclature leased 8,181 square feet. Seth Biggerstaff and Amy Winchell of Veritas Realty represented the landlord, Ramco-Gershenson Properties LLC. Bart Jackson of Lee & Associates represented Planet Fitness, while Jeff Hubley of Midland Atlantic represented Homenclature. Planet Fitness is a franchise of fitness centers based in Newington, N.H. Homenclature offers both new and used furnishings for homes in offices. The company is headquartered in Valparaiso, Ind.
