CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a former funeral home in the Lakeview neighborhood of Chicago. Stonestreet Partners LLC purchased the 12,500-square-foot building and 0.33 acres of land. The subject property is located at the northeast corner of Lincoln, Southport, and Wellington avenues. Stonestreet plans to redevelop the former funeral home into a space that will include retail and residential property. Paul Bryant and Andrew Becker of Mid-America represented the seller, a private family and land trust. Kevin Boyd of SRS Real Estate represented the buyer.
NEW YORK CITY — CPEX has arranged the sale of a retail property located at 2038-2050 Flatbush Ave. in Brooklyn. The 15,000-square-foot property sold for $4.5 million, or $300 per square foot. The four-unit property was 76 percent occupied at the time of sale. Current tenants are Telco Stores and Sports Physical Therapy of NY. Andre Sigourney and Harrison Balisky of CPEX’s retail sales team represented the seller and buyer in the transaction. The names of the seller and buyer were not released.
MISSION VIEJO, CALIF. – La Paz Gateway, a 6,000-square-foot retail center in the Orange County submarket of Mission Viejo, has sold to an unnamed buyer for $5.5 million. The Class A center is located at the intersection of Muirlands Boulevard and La Paz Road, off Interstate 5. It is fully occupied by three tenants, including Roberto’s Taco Shop, Ortho Mattress and Beach Hut Deli. La Paz Gateway was built in 2007. Both the buyer and seller were represented by Scott Hook of Hook Retail Advisors/Coldwell Banker Commercial (CBC) Alliance Orange County.
TUSTIN, CALIF. – Kettlebar restaurant has opened at Union Market Tustin. The Southern seafood offering will be located within the 22,000-square-foot artisanal center, which contains a mix of independent gourmet food, fashion and lifestyle micro-tenants. Union Market Tustin is situated within The District at Tustin Legacy, a regional shopping center. The District was developed by Vestar/Kimco and is operated by Vestar.
THE WOODLANDS, TEXAS — Cyclone Anaya’s Mexican Kitchen and Nick’s Fish Dive & Oyster Bar will open at 20 Waterway Ave. in The Woodlands. Cyclone Anaya’s Mexican Kitchen has leased 4,222 square feet for a Mexican food restaurant with an expected opening date set for the beginning of April. Nick’s Fish Dive & Oyster Bar has leased 3,568 square feet for its new restaurant. Nick’s is anticipated to open in April. The corporate offices of Cyclone Anaya represented the restaurant in the transaction, while AM Restaurant Inc. and Claudia Leonardo represented Nick’s Fish Dive & Oyster Bar. Rip Reynolds of The Howard Hughes Corp., represented The Woodlands Development Co. in both leases.
BROOKFIELD, WIS. — Land assembly at The Corners of Brookfield mixed-use development in Brookfield is now complete. Brookfield Corners LLC, a joint venture between IM Properties, Bradford Real Estate and The Marcus Corporation, is developing the $200 million project. The development, which is bordered by West Bluemound Road, North Barker Road and I-94 in Brookfield, will serve as a destination for luxury shopping, dining and entertainment. Plans call for 400,000 square feet of retail and restaurant space anchored by Wisconsin’s first ever Von Maur Department Store, as well as 235 luxury apartments that will be managed by Milwaukee-based Mandel Group. With the entire 19-acre site now under ownership of Brookfield Corners LLC, the project will move toward a groundbreaking, which is set for mid-April. Demolition of the former Menards buildings and the former Marcus Theater is complete, with demolition of the adjoining strip mall also near completion.
HOPKINTON, MASS. — R.W. Holmes has negotiated the sale of a multi-tenanted flex building, located at 227-233 South St. in Hopkinton. 227-229 South Street LLC purchased the 43,000-square-foot property for $5.35 million from Mar S. Maple Realty Trust. Precision Digital Corp. will renovate and occupy 21,000 square feet of the property. Craig Johnston of R.W. Holmes procured and represented the buyer, while John Eysenbach, also of R.W. Holmes, represented the seller in the transaction.
DECATUR, ILL. — Block & Co. has brokered the $4.6 million sale of a 45,114-square-foot retail strip center in Decatur. The property is located at 4202-4298 N. Prospect at the southeast corner of I-72 and 51 Highway. A Walmart Supercenter and Sam’s Club anchor the center. Other tenants at the center include Jo-Ann Fabric and Craft, RadioShack and Sally Beauty Supply. David Block and Max DiCarlo of Block & Co. represented the sellers, Bloomfield 2005 LLC and Metcalf Arlington SPE LLC.
CHICAGO — Tokyo-based restaurant chain Gyu-Kaku will open its second Chicago location after signing a 10-year lease for 2,800 square feet at 1364 W. Randolph St. in the West Loop. Lee Ffrench of @properties Commercial represented Gyu-Kaku in the transaction. Elan Rasansky of RKF represented the landlord, Harrison Jones. The Japanese barbecue restaurant has more than 700 locations worldwide, including more than two-dozen in North America. In 2011, the company opened its first Chicago location at 210 E. Ohio St., just off the Magnificent Mile. Gyu Kaku’s new location is at the northeast corner of Randolph and Ada Streets, in an area of the West Loop known as Restaurant Row.
AUSTIN, TEXAS — Baceline Investments LLC, a private equity real estate investment and management company, has acquired Dakota Plaza, a retail center in Austin. Baceline purchased Dakota Plaza, a 21,700-square-foot retail center constructed in 2006, from Colorado-based Western Dakota LLC. Located at 8516 Anderson Mill Road, Dakota Plaza serves as the only neighborhood shopping center in the immediate area.