SANTA MONICA, CALIF. — Santa Monica-based brokerage firm Main + Main has named Mike Clark as its executive director. Prior to joining Main + Main, Clark spent 20 years with Cushman & Wakefield. Clark will be based in the company’s San Diego office, and will specialize in shopping centers, retail strip centers and freestanding retail buildings in the San Diego area.
NORTH BERGEN, N.J. — HFF has arranged the sale of Tonnelle Plaza, a retail center with a warehouse component in North Bergen. 8101 Tonnelle Avenue LLC sold the 350,000-square-foot property to an affiliate of Northeast Capital Group and BHN Associates for an undisclosed price. Developed in 1990 and renovated in 2008, the property is situated on 12.6 acres at 8101 Tonnelle Ave. The center is occupied by ALDI, Burlington Coat Factory, Planet Fitness, Chuck E. Cheese, JP Morgan Chase Bank, Sally Beauty Supply, Subway, McDonald’s, All Pet Distribution and Good Chinese Kitchen. In addition to the 155,000-square-foot retail space, the two-level center has 196,000 square feet of warehouse space fully leased to three tenants. Jose Cruz, Kevin O’Hearn, Michael Oliver, Steve Simonelli and Andrew Scandalios of HFF represented the seller in the transaction.
NEW YORK CITY — GFI Realty Services has negotiated the sale of a retail property located at 259 W. 34th St. in Midtown Manhattan. Cornell Realty acquired the property from the Moran family for $20.5 million. Currently occupied by a Wendy’s restaurant, the property is a strategic acquisition for Cornell, which plans to develop a combined 160,000 square feet of hospitality and retail space at 259 W. 34th St. and several neighboring properties. Aron Taub of GFI represented the buyer and seller in the transaction.
NEW YORK CITY — Besen & Associates has brokered the sale of an elevator-served mixed-use building located at 2195 Adam Clayton Powell Blvd. in Manhattan’s Central Harlem neighborhood. The asset sold for $2 million, or $347 per square foot. Built in 1910, the vacant five-story, 5,758-square-foot property features six apartments and one retail unit. Hilly Soleiman of Besen & Associates represented the buyer and seller in the transaction. The names of the buyer and seller were not released.
HOUSTON — Marcus & Millichap has arranged the sale of Centre at Wallisville, an 18,784-square-foot retail property located in Houston. Matthew Mignerey and Derek Hargrove of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Centre at Wallisville is located at 15119 Wallisville Road in Houston.
ORLAND PARK, ILL. — Mid-America Real Estate Corp. has brokered the $20 million sale of a Home Depot-anchored retail center in Orland Park, approximately 28 miles southwest of Chicago. Cole Real Estate Income Strategy Inc. purchased the 149,526-square-foot center, which is located at the intersection of Harlem Avenue and 159th Street. Other tenants in the center include Sleepy’s, Five Guys and Supercuts. VEREIT Inc. represented Cole Real Estate in the transaction. Ben Wineman and Joe Girardi of Mid-America represented the undisclosed seller, an Ohio-based publicly traded real estate investment trust.
FORT MYERS, FLA. — Tanger Factory Outlets Center Inc. has sold the company’s 198,877-square-foot outlet mall in Fort Myers to Dahlmann Properties for $26 million. Built in 1993, the property’s tenant roster includes Brooks Brothers Factory Store, Crocs Outlet, Tommy Hilfiger, Adidas, Nike Factory Store, Under Armour, Island Java Café, Coach, Bath & Body Works and Zales The Diamond Store Outlet. Dahlmann Properties plans to rename the outlet mall Sanibel Outlets, due to its proximity to Sanibel Island.
NORTH CHARLESTON, S.C. — The Shopping Center Group (TSCG) has brokered the $16.5 million sale of The Shoppes at Centre Pointe, a 140,000-square-foot shopping center located in North Charleston. An affiliate of Monarch Investments purchased the retail property from an unnamed private real estate investment firm. Anchored by Staples and Ashley Furniture, the shopping center’s other tenants include Dollar Tree, McAlister’s Deli, Qdoba Mexican Eats, Cici’s Pizza, Sally Beauty Supply, GameStop, Cricket Wireless and Dunkin’ Donuts. IHOP and Chick-fil-A also operate at the shopping center but were not included in the sale. Walmart and Sam’s Club shadow-anchor the center. Anthony Blanco, Lenard Williams and Mallory Ham of TSCG’s investment sales team, along with Jeff Yurfest and Michael Silverman of TSCG’s Charleston office, represented the seller in the transaction.
MIAMI — Taubman Centers Inc. has decided not to move forward with an enclosed regional mall that was slated to be part of the Miami Worldcenter mixed-use development in Miami. Instead, Taubman, in conjunction with The Forbes Co. and Miami Worldcenter Associates, is now pursuing a high street retail plan that will better utilize the characteristics of the site and the market. Taubman expects to recognize a charge of $11 to $12 million for the write off of previously capitalized costs related to pre-development of the enclosed mall plan. Taubman and Forbes have agreed with Miami Worldcenter Associates on preliminary terms to lease the retail portion of the street level project with an option to purchase the retail component for a pre-determined price once it opens.
CEDAR PARK, TEXAS – Riverside Resources has begun construction on the first phase of a 100-acre mixed use campus on Parmer Lane in Cedar Park. The first phase of the campus, called Presidio, will feature 74,000 square feet of office space, a 100-room hotel, 320 urban lofts and 21,000 square feet of retail/restaurant space. The initial phase spans 26 acres off the southeast corner of Parmer Lane and Ranch Trails Court. The remaining 74 acres is on the other side of Ranch Trails Court. Presidio will be able to accommodate an office campus with upwards of 500,000 square feet, along with additional lofts, retail and restaurant space. The design’s intent is to bring a more urban, walkable mixed-use campus to Parmer Lane and Cedar Park, with a trail system, local restaurants, a park and a food trailer court. The Phase I office building has been 50 percent pre-leased to American Constructors and will be ready for occupancy in the fall of 2016. In early 2016, Riverside Resources will also move ahead with the other components of the first phase, including a 21,000-square-foot restaurant and retail component it’s developing in partnership with Chris Whitworth and Mauricio Gonzalez Kane of Cordova Real …