GRAPEVINE, TEXAS — The award-wining Perry’s Steakhouse & Grille will open a new location in Grapevine. Once completed in 2017, the 10,000-square-foot restaurant will be located at 2400 W. State Highway 114 and will be the first in Tarrant County. Perry’s owns and operates two other steakhouses in the Dallas metro area — Uptown and Frisco.
NEWARK, N.J. — Lotus Equity has entered into an agreement to acquire Bears & Eagles Riverfront Stadium, located at 450 Broad St. in Newark. The City of Newark, Essex County and the Essex County Improvement Authority are selling with property for $23.5 million. The sale of the stadium and land to a private developer allows the city and county to increase taxable space and relieve the taxpayers of the stadium’s current $4 million annual debt-service obligation. Lotus is gathering urban planners, designers and engineers to assess the site, which offers 7.5 acres of developable land, to conceptualize and recommend a long-term solution for the site.
BOSTON — Leggat McCall Properties, along with its joint venture partner Multi-Employer Property Trust (MEPT), and development advisor Bozzuto Development Co. have filed an expanded Project Notification Form with the Boston Redevelopment Authority for 3.1 acres of land in Boston’s South End. The site was acquired from the Boston Medical Center in late 2014. Spanning the block between Harrison Avenue and Albany Street and East Dedham and East Canton streets, the Harrison Albany project will bring a mix of residential, retail, office and cultural space to the South End. The proposed two-building project will feature 710 apartments, 14,000 square feet of retail space, 40,000 square feet of office space and public open space, including a green promenade between the two residential buildings. Additionally, the existing parking lots will be removed and replaced with underground parking.
BOSTON AND PHILADELPHIA — Modell’s Sporting Goods has opened locations in Boston and Philadelphia. Located at 480 Boylston St. in Boston’s Back Bay area and at 1608 Walnut St. in Philadelphia near Rittenhouse Square, the two 11,000-square-foot stores will be tailored to customers passionate about running, fitness and professional sports teams and will offer elite brands such as Brooks, Asics, The North Face, Nike, Under Armour and adidas.
HAZEL CREST, ILL. — Baceline Investments LLC has acquired The Commons at Hazel Crest shopping center for $4 million. The Commons at Hazel Crest is located at 18220-18244 Kedzie Ave. in Hazel Crest, approximately 30 miles southwest of Chicago. Dollar Tree and CSL Plasma anchor the 51,222-square-foot shopping center. The property was built in 1972. The seller in the transaction was undisclosed.
TAMPA, FLA. — Rosemurgy Properties has purchased The Shops on South Howard, a 21,393-square-foot retail center located at 533 S. Howard Ave. in south Tampa, for $10.5 million. The property’s tenant roster includes Chipotle, Jimmy John’s, GNC, The Optic Shop and Edward Jones. Nat Scarmazzi of HFF’s Miami office represented Rosemurgy Properties in the transaction.
CONCORD, N.C. — Colliers International has brokered the $10.5 million sale of a 135,197-square-foot, freestanding Lowe’s Home Improvement store located at 940 Concord Parkway in Concord, a northern suburb of Charlotte. Built in 1999, the property currently has three-and-a-half years remaining on its 20-year lease. Jon Busse of Colliers International’s San Diego region and Greg Copps of the firm’s Charlotte office represented the seller, Carolina Emerald LLC, in the transaction. Brad Grow of Colliers International’s Charlotte office represented the buyer, Tailwind Charlotte Retail LLC, a private investment group based in Dallas.
SAN DIEGO — Voit Real Estate Services has arranged the sale of an investment property located at 2576 Clairemont Drive in San Diego. Bella Lago LLC acquired the 25,461-square-foot property from Sunshine Finance Corp. for $6 million. A 7-Eleven and Washman USA currently occupy the asset. Kipp Gstettenbauer and Ryan King of Voit Real Estate Services represented the buyer in the transaction.
LAKE FOREST, CALIF. — Newmark Grubb Knight Frank has brokered the sale of two-tenant, triple-net leased retail property located at 29100 Portola Parkway in Lake Forest. Amkly Enterprises purchased the asset from Salok CA LLC for $2.9 million. Built in 2002, the Clineva Urgent Care and Patchs Coffee fully occupy the property. David Kluver of NGKF represented the buyer in the transaction.
ALHAMBRA, CALIF. — Shea Properties has signed two new restaurants to Alhambra Place in Alhambra. Slated to open in late summer, the two restaurants will be located on the corner of Main and Garfield. Big Catch Seafood House specializes in Cajun-style cooking, and Tokyo Table is a contemporary Japenese restaurant. Sprouts Farmers Market anchors the 140,000-square-foot Alhambra Place.