BELLFLOWER, CALIF. — Charles Dunn Co. has arranged the $3.2 million sale of a 5,000-square-foot, single-tenant, triple-net-leased property occupied by Union Bank in the Los Angeles suburb of Bellflower. Kyle Gulock and Jason Cope of Charles Dunn represented both the seller, a private investor from Orange County, and the buyer, a Chinese investor, in the transaction.
VICTORVILLE, CALIF. — Marcus & Millichap has arranged the sale of Bear Valley Road Center, a retail property located at 15610 Bear Valley Road in Victorville. The 9,998-square-foot property sold for $1.6 million. Constructed in 2007, the property comprises two buildings on separate parcels totaling 1.2 acres and 58 parking spaces. Kevin Le and Chuck Shillington of Marcus & Millichap’s Ontario, Calif., office represented the seller, a private investor, in the transaction.
SAN DIEGO — Dickey’s Barbecue Pit recently signed a 12-store development agreement with owner/operator Michael Tucker. Already the owner of the La Quinta Dickey’s location, Tucker’s agreement originally contained four stores, which are slated to open in Indio, Moreno Valley and Redlands, Calif. The new agreement adds eight stores to the existing deal. Tucker has extended the agreement with the barbecue brand to encompass the northern part of San Diego County, starting in Mira Mesa and extending north. He will also open a new location as far south as National City. Dickey’s Barbecue Pit now has more than 100 stores in California. The new stores will all be opened using Dickey’s new store model, complete with sustainable elements such as reclaimed wood throughout the dining room.
SUGAR LAND, TEXAS — Marcus & Millichap has arranged the sale of a 1,850-square-foot, net-leased Starbucks property located in Sugar Land. Justin Miller, Derek Hargrove and Davis Hansen of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a Houston-based developer. The property sold to an out-of-state investor utilizing a 1031 tax-deferred exchange. Starbucks is located at 6502 Highway 90.
LOS ANGELES — California Realty Group has arranged the lease of 6,756 square feet of retail space at 5100 Wilshire Blvd. in the Hancock Park neighborhood of Los Angeles. Automobile Club of Southern California signed a 10-year deal for the space located within The Mansfield mixed-use project. The new location is slated to open in third quarter 2017. Keith Kleinman and Mark Esses of California Realty Group represented the tenant, while Tim Bower and Gabrielle Lardiere of CBRE represented the undisclosed landlord in the transaction.
CARENCRO, LA. — Stirling Properties has brokered the sale of a 16.1-acre lot of land located at 3810 N.E. Evangeline Thruway in Carencro near the intersection of I-10 and I-49. The buyer, Wal-Mart Real Estate Business Trust, has begun to build a new 182,000-square-foot Walmart Supercenter at the site. The new store, which is set to open in early 2017, is expected to create 300 jobs. Seth Citron and Ryan Pecot of Stirling Properties brokered the land deal.
MIAMI — Swire Properties Inc. and its retail co-developers Whitman Family Development and Simon Property Group have inked a lease for a 38,000-square-foot Italian indoor food hall concept at Brickell City Centre in Miami’s Brickell district. The three-level dining space and market will anchor the 500,000-square-foot open-air shopping center at the 5.4 million-square-foot development. The food hall will offer several eateries, market fare such as produce and artisanal cheeses, gifts, live cooking demonstrations, cooking classes with Italian chefs and educational programming on wine pairings and other topics. Other dining and entertainment retailers already signed on at Brickell City Centre include Cinemex, Pubbelly Sushi, Pasion del Cielo, Quinto La Huella and Sugar, a rooftop bar that will be situated at the Brickell City Centre’s upscale hotel — EAST, Miami.
JACKSONVILLE, FLA. — Equicap, a real estate investment advisory firm based in New York, has arranged an $18 million acquisition loan for a 155,899-square-foot shopping center in Jacksonville. The center’s tenant roster includes Publix, H&R Block and Planet Fitness. Daniel Hilpert of Equicap arranged the seven-year, non-recourse loan with a fixed 3.54 percent interest rate through an unnamed regional lender.
DUBLIN, OHIO — Crawford Hoying has arranged a 3,531-square-foot lease for 3 Palms Pizzeria and Bakery in Dublin, approximately 18 miles northwest of Columbus. 3 Palms is the latest tenant announced at Bridge Park, a $350 million, 30-acre mixed-use project. Other tenants include The Avenue, The RAM Restaurant and Brewery and Mesh Fitness. The Bridge Park restaurant will be 3 Palms’ third location and will be able to seat 100 guests.
DALLAS — RED Development has begun construction on The Union Dallas, an 800,000-square-foot office, residential and retail project scheduled for completion in 2018. First announced in May 2014, the two-tower mixed-use project will offer 417,000 square feet of Class A office space, 309 residential units and 87,000 square feet of retail. StreetLights Residential is leading design and development for the 23-floor residential tower, which will be known as The Christopher. The development will also include a 10,ooo-square-foot restaurant known as The Henry, which will serve breakfast, lunch and dinner. Tenants in the office portion of the development will include Vinson & Elkins, which will lease 82,000 square feet across three floors beginning in 2018. Weaver, the largest independent accounting firm in the Southwest, will move its Dallas office to a 58,000-square-foot space within two floors in the office tower. Located at Field Street and Cedar Springs Road, the mixed-use project is within walking distance of many sports, entertainment, museum and outdoor park venues. Designed by Dallas-based architect HKS Inc., and with DPR as the general contractor, the project will include a 60,000-square-foot Tom Thumb grocery store on the ground floor. Landscape designer Office of James Burnett will design a 21,000-square-foot …
