CHAPEL HILL, N.C. — Unison Realty Partners has purchased Chatham Crossing, a 96,155-square-foot neighborhood shopping center in Chapel Hill. The property was 90 percent leased at the time of sale to tenants such as Lowes Foods and CVS/pharmacy. Unison Realty’s plans for the property include stabilizing existing tenants, updating the façade of the building and leasing up the shopping center’s remaining vacancies. Berkeley Capital Advisors brokered the acquisition. Chatham Crossing is Unison Realty’s first acquisition in North Carolina.
COLUMBUS — SRS Real Estate Partners has brokered the sale of a retail property net leased to Champps Americana Restaurant in Columbus for an undisclosed price. The 10,582-square-foot restaurant is situated on two acres at 3993 Morse Crossing. Pickerington Square LP purchased the property, which is an outparcel to a power center. Kyle Stonis, Pierce Mayson, John Topping Jr. and Brad Gibbs of SRS Real Estate Partners represented the sellers, a group of tenant-in-common co-owners, in the transaction. The buyer was self represented.
SAN DIEGO — American National Investments has acquired a restaurant building located at 369 10th Ave. in downtown San Diego’s East Village neighborhood. The 4,000-square-foot asset sold for $2.3 million. The buyer plans to operate a restaurant at the two-story property. Retail Insite represented the undisclosed seller in the transaction.
SANTA ANA, CALIF. — Newmark Grubb Knight Franck has arranged a new lease with Colorado Springs, Colo.-based Phenix Salon Suites. Phenix Salon Suites will occupy 7,000-square-foot at the newly constructed, single-tenant retail building. The new salon will open in September 2016. The 15-year lease is valued at $3.7 million. Randee Stratton of NGKF represented Phenix Salon Suites. The landlord is an entity of Red Mountain Retail Group.
TORRANCE, CALIF. — Simon Property Group has signed Dick’s Sporting Goods as an anchor for Del Amo Fashion Center in Torrance. The two-level, 83,000-square-foot store will be the largest Dick’s prototype store for its new design. The store will be located on the south portion of the center on the second and third levels of the former Macy’s, which was consolidated from three stores to two units last summer. The new Dick’s Sporting Goods is slated to open in spring 2017.
HOUSTON — Houston-based Baker Katz has broken ground on the redevelopment of two buildings totaling 33,000 square feet on a 4.5-acre tract. Baker Katz purchased the property in summer 2015 with plans to add new signage, update the parking lot and renovate the two buildings located near the cross streets of FM 1960 and West Lake Houston Parkway. Verizon Wireless will join the tenant mix in a 4,000-square-foot building. The 15 tenants currently occupying space will remain open during construction.
KATY, TEXAS — Thor Equities has leased a total of 6,800 square feet of space at The Shoppes at Cinco Ranch in Houston to three separate retailers. Iron Tribe Fitness, a gym franchise with more than 60 locations in 15 states, has signed a long-term lease for 4,200 square feet of ground-level space. Great Clips also signed a long-term lease for more than 1,000 square feet, while Nails of America is leasing over 1,600 square feet of space. All three businesses are scheduled to open this summer. Thor recently announced Lowe’s Cos. will build a 100,000-square-foot home improvement store at The Shoppes at Cinco Ranch, with Thor developing retail stores and restaurant spaces throughout the remainder of the 35-acre property. Located in Katy, The Shoppes at Cinco Ranch is accessible via the Westpark Tollway and bisected by Spring Green Boulevard, with parking and sidewalks throughout the property.
CAPE MAY COURT HOUSE, N.J. — Polimeni International LLC has completed the disposition of The Plaza at Cape May Court House, a retail center located at 11 Court House South Dennis Road in Cape May Court House. An affiliate of RW Capital Partners acquired the 163,629-square-foot property for $32.1 million. At the time of sale, the property was 97.6 percent leased to a variety of national and regional tenants, including ACME Markets, Marshalls, Staples, CVS/pharmacy, Pier 1 Imports, Alfredo’s Pizza, Chopsticks Restaurants, Melini Hair Care, GNC and Payless ShoeSource. Chris Munley, Jose Cruz and Kevin O’Hearn of HFF represented the seller in the transaction.
VERNON, N.J. — Marcus & Millichap has arranged the acquisition of a net-leased retail property in Vernon. The 13,225-square-foot property sold for $9.7 million. The property is occupied by CVS/pharmacy. Michael Lombardi of Marcus & Millichap represented the buyer, a private investor, in the transaction.
NORTH KINGSTOWN, R.I. — Kennedy Funding Financial has completed a $1.8 million loan secured by a development site in North Kingstown. The borrower was property owner CIOE A34 LLC. Located on Ten Rod Road, the 5.3-acre parcel is currently zoned for approximately 200,000 square feet of mixed-use development. Kevin Wolfer of Kennedy Funding Financing arranged the financing for the borrower.