YOUNGSTOWN, OHIO — The Opus Group has broken ground on a Gander Mountain retail store in Youngstown, approximately 70 miles southeast of Cleveland. Completion of the property is slated for February 2016. The 61,000-square-foot store is being built at the site of Gander Mountain’s former retail store that has been demolished. Opus Design Build LLC is the general contractor for both projects.
CHINO HILLS, CALIF. — Dunhill Partners Inc. has acquired The Shoppes at Chino Hills, a 377,966-square-foot lifestyle center located in the Los Angeles suburb of Chino Hills, for $147 million. Ryan Gallagher and CJ Osbrink, with assistance from John Crump and Bryan Ley, of HFF represented the seller, MX3 Ventures, in the transaction. The open-air center was 96 percent occupied at the time of sale by tenants including anchors Forever 21, H&M, Trader Joe’s, Banana Republic, Victoria’s Secret and Barnes & Noble.
SAN DIEGO — A private investor has purchased Scripps Ranch Marketplace Phase II, a 28,700-square-foot shopping center located in San Diego, for $20.45 million. Philip Voorhees, Todd Goodman, Preston Fetrow, Kirk Brummer, Megan Wood, Brad Rable, Matt Burson, Jimmy Slusher and John Read of CBRE and Mike Moser of Retail Insite represented the seller, a San Diego-based private asset management and investment company, in the transaction. A Santa Barbara-based private investor purchased the fully occupied property. The center is shadow anchored by Vons and CVS/pharmacy, and home to tenants including Chase, Verizon and Which Wich.
RIVERSIDE, CALIF. — Hanley Investment Group has arranged the $15.2 million sale of a newly built, 45,000-square-foot, single-tenant LA Fitness located in Riverside. Pat Kent and Bill Asher of Hanley Investment Group worked on behalf of the seller, GRAE La Sierra LLC, and George Ragheb of Entrance Homes Inc. represented the buyer, a Lakewood, Calif.-based private investor, in the transaction.
CLAREMONT, CALIF. — Dollar Tree will open a new 9,000-square-foot store at 342 S. Indian Hill Blvd. in Claremont later this year. The store will be located within the recently renovated Peppertree Square neighborhood center. Janine Peltier of Progressive Real Estate Partners represented the lessor in this transaction.
DALLAS, FLOWER MOUND AND WICHITA FALLS, TEXAS — SHOP Cos. Investment Sales has arranged the sale of three retail properties totaling 22,733 square feet in metro Dallas. Tommy Tucker and Tim Axilrod of SHOP Cos. represented the three different sellers in each transaction. The transactions included Jack in the Box, a 2,481-square-foot net leased restaurant located at the corner of Royal Lane and I-35 East in Dallas. The property is located 15 miles northwest of downtown Dallas and eight minutes east of the Dallas/Fort Worth International Airport. Jack in the Box has been a tenant at the property for more than 18 years. SHOP Cos. represented the seller, a Texas-based limited liability company. A private investor from California was the buyer. SHOP Cos. also brokered the sale of a 2,661-square-foot Dairy Queen located on a 1.5-acre pad site in Flower Mound. Dairy Queen signed a 20-year lease prior to closing. SHOP Cos. represented the seller, a private Texas-based limited partnership. A private investor from Louisiana was the buyer. The last transaction was Gabriella’s Square, a 17,591-square-foot shopping center in Wichita Falls. The property fronts I-44/U.S. Route 277. At the time of closing, the property was 44.3 percent leased to tenants including …
DALLAS — After 12 years with Marcus & Millichap, a team of commercial real estate agents has started its own firm, the Vitorino Group. The team aims to build on its track record of retail investment sales throughout Texas and the Southwest, but will expand its business model to include all facets of a commercial real estate firm. Jason Vitorino leads the company, which opened Sept. 28. Vitorino Group also includes Jared Aubrey, Michael Austry, Adam Gottschalk, Anthony Pucciarello, Bryce Gissler and James Mangum. The Vitorino Group also employs a transaction coordinator, financial analyst, marketing coordinators and research analysts.
THE WOODLANDS, TEXAS — The Howard Hughes Corp. and its wholly-owned subsidiary The Woodlands Development Co. have officially opened Restaurant Row at Hughes Landing, a mixed-use development including restaurants, retailers, multifamily residences, entertainment venues, office buildings and an Embassy Suites by Hilton hotel. California Pizza Kitchen, Del Frisco’s Grille, Escalante’s Fine Tex-Mex & Tequila and Local Pour are now open in Restaurant Row, with Truluck’s and Fogo de Chão under development. Retailers now open include Cadence Bank, CUPS Frozen Yogurt, KB Kasuals, Kriser’s Natural Pet, Pier 1 Imports, Starbucks, Venetian Nail Spa and Whole Foods Market. Other retails, including 18|8 Fine Men’s Salons, Macaron by Patisse and Willa Boutique, will open at Hughes Landing soon.
CHAMBLEE, GA. — S.J. Collins Enterprises will break ground in October on Peachtree Crossing, a 107,160-square-foot grocery-anchored power center in Chamblee, an eastern suburb of Atlanta. The 11-acre site is situated at the intersection of Peachtree Boulevard and Peachtree Road. Whole Foods Market will anchor the project with a 45,000-square-foot store. Other announced tenants include Zoe’s Kitchen, Chipotle Mexican Grill, YEAH! BURGER, Taqueria del Sol and Tokyo Belly. The project will also feature mini-parks, bike racks, play areas for children, a pedestrian trail, connection to the Keswick Trail, public art area and electric vehicle charging stations. S.J. Collins expects to deliver Peachtree Crossing in the first quarter of 2017. Retail Leasing Advisors and Dart Retail Advisors are leasing the project. United Community Bank and The PrivateBank provided construction financing for the project.
BRISTOL, TENN. — KeyBank Real Estate Capital has arranged a $27 million CMBS first mortgage for Pinnacle at Bristol, a 217,846-square-foot lifestyle retail center located in Bristol. The property’s tenant roster includes Belk, Dick’s Sporting Goods, Marshalls and Bed Bath & Beyond. The center is shadow-anchored by Bass Pro Shop. Scott Bois and Ken Broussard of KeyBank arranged the non-recourse financing.