NORTH RICHLAND HILLS AND TOMBALL, TEXAS — NewQuest Properties has arranged two leases for retail space in North Richland Hills and Tomball. In the first deal, Cellphone Trendz leased 1,050 square feet of retail space at North Tarrant Marketplace in North Richland Hills. Josh Friedlander provided in-house representation for the landlord, NewQuest Properties, while Jack Burgher of Streetwise Retail Advisors represented the tenant. In the second transaction, PostNet TX 223 leased 2,095 square feet of retail space at Tomball Parkway Plaza in Tomball. Brad Elmore and Austen Baldridge of NewQuest Properties represented the landlord, Tomball Plaza LLC, while Caroline Howell of NewQuest and Josh Evans of Newmark Grubb Knight Frank represented the tenant.
SPRINGFIELD, MO. — Mid-America Real Estate Corp. has brokered the sale of Morris Corners in Springfield in southwestern Missouri. The sales price was not disclosed. The 56,033-square-foot retail center is located at the corner of Battlefield Road and Fremont Avenue. Tenants include Toys “R” Us and Massage Envy. Carly Gallagher and Ben Wineman of Mid-America represented the seller, Ohio-based DDR. A private buyer purchased the property.
BOISE, IDAHO — Two years after the Albertsons-Safeway merger that created the second-largest supermarket company in the U.S., Albertsons Cos. has built or acquired 174 locations. Since the merger, 23 new stores have been built and 151 stores were acquired. The Boise-based company has also upped its sustainability efforts. During the first quarter, the company committed to sourcing and selling only cage-free eggs for its store operations by 2025, based on available supply. The company recently announced a new Responsible Seafood Policy, which expanded the previous program beyond fresh and frozen seafood to include shelf-stable tuna (canned and vacuum-sealed), as well as sushi sold from its delis. The company plans that by 2022, 100 percent of the top 20 wild and farmed seafood products sold at stores will meet the Responsible Seafood Policy. Albertsons Companies operates stores, manufacturing plants and distribution centers across 35 states and the District of Columbia under 19 brands including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs.
OCEANSIDE, CALIF. — Cushman & Wakefield has arranged the $14.2 million sale of Best Plaza, a 65,211-square-foot shopping center in Oceanside, located 38 miles outside San Diego. The center was 35 percent occupied at the time of sale by tenants including CVS/pharmacy, Chase Bank and Papa John’s Pizza. Pacifica Cos. acquired the property from 1702 Oceanside Associates LTD through an online auction. Dixie Walker and Charley Simpson of Cushman & Wakefield and Ron Pepper of Retail Insite represented the seller in the transaction.
SALT LAKE CITY — CBL & Associates Properties Inc. has announced that Dillard’s will open a new store in the former Macy’s location at Layton Hills Mall in Salt Lake City. Construction on the 160,000-square-foot store is set to begin in April, with an anticipated opening for fall 2017.
LOS ANGELES — New Era has opened the doors to its permanent retail space — The New Era D-Lab — inside STAPLES Center in Los Angeles. Inside the new 3,160-square-foot store is a ‘New Era by You’ customization area. Customers can design their own New Era cap by choosing from hundreds of team logos, colors and fabrics. The single-level store also features: • The Blocking Machine: Used to stretch a cap to fit a person’s head more comfortably, to reshape a cap to its original form and to clean a cap. • The Heat Seal Machine: Used to adhere a patch to the side of a cap. The New Era D-Lab is part of a multi-year agreement, brokered by AEG Global Partnerships in 2016, which named New Era as a founding partner and the exclusive headwear supplier of L.A. LIVE, the LA Kings, Microsoft Theater and The Novo by Microsoft. The store is located in the front of STAPLES Center on the corner of Chick Hearn Court and Figueroa, looking onto Microsoft Square.
MOUNTAIN BROOK, ALA. — L&B Realty Advisors has purchased Cahaba Village, a 115,180-square-foot shopping center located along US 280 in the Birmingham suburb of Mountain Brook. The company purchased the property free and clear of existing debt for an undisclosed price on behalf of an institutional separate account client. Cahaba Village’s tenant roster includes Whole Foods Market, Mountain High Outfitters and Bryant Bank. Jim Hamilton, Richard Reid, Barry Brown, Ryan Shore, Mike Allison and Brad Buchanan of HFF represented the undisclosed seller in the transaction. Birmingham-based Bayer Properties developed Cahaba Village in 2007 and sold it to Clarion Partners in 2010, according to the Birmingham Business Journal.
BOSTON — Synergy Investment has completed the disposition of an office and retail building located at 26 West St. in Boston’s Ladder District. Boston-based Eden Properties acquired the property for $21.8 million. Services Employee International Union occupies a portion of the building on a long-term lease. Scott Dragos of Colliers International Boston represented the seller in the deal.
FRANKLIN PARK, N.J. — Cronheim Mortgage has secured $10.3 million in refinancing for a grocery-anchored retail center located in Franklin Park. The non-recourse loan features a three-year term and a 30-year amortization schedule. A mix of local and national retailers, including Dollar General and PNC Bank, occupy the 67,531-square-foot property. The name of the borrower was not released.
SYRACUSE, N.Y. — Integra Real Estate Capital has arranged a $5.5 million non-recourse loan for the refinance of Camillus Plaza, a retail center located in Syracuse. Rite Aid Pharmacy, Visionworks and Solvay Bank anchor the 45,000-square-foot shopping center. Meyer Perlman of Integra secured the 10-year fixed-rate loan through a CMBS lender for the borrower, a New York-based ownership group.