ALBERTVILLE, ALA. — GBT Realty Corp. will soon begin developing The Shoppes of Albertville, an $18 million, 135,000-square-foot retail center located on a 13.2-acre tract of land in Albertville. The property is currently 92 percent pre-leased to tenants such as PetSmart, T.J. Maxx, Hobby Lobby, Ross Dress for Less and Hibbett Sports. GBT Realty expects to deliver the property in spring 2016. GBT entered into a development agreement with the city of Albertville whereby the city agreed to sell bonds to provide $5 million of funding to offset pre-development and development costs. Upon completion, a portion of the sales tax generated at the shopping center will pay off the bonds.
CHICAGO — STREAM Capital Partners, a sale-leaseback advisory group based in Chicago, has brokered the $23.3 million sale-leaseback of 18 KFC restaurants in Alabama. The locations are all under long-term triple-net leases to a KFC franchisee. Adam English, Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners advised the undisclosed seller in the transaction. The buyer was a public REIT.
LAS VEGAS – Craig Valley Plaza, a 73,455-square-foot retail center in Las Vegas, has sold to Marker Craig LLC for $8.2 million. The plaza is located at 4180-4280 W. Craig Road. Jeff Chain of Millennium Commercial Properties represented the buyer. The seller, Omninet Craig LLC, was represented by CBRE’s Charles Moore, Marlene Fujita Winkel and Ashley Kolaczynski.
MILFORD, MASS. — NorthMarq Capital has arranged $10.3 million in refinancing for Quarry Place II, a retail property located at 99-103 Cedar St. in Milford. The 55,000-square-foot property is anchored by The Sports Authority. The transaction was structured with a 10-year term and 25-year amortization schedule. Joseph Hegenbart and Ryan Demadis of NorthMarq Capital’s Boston office arranged the financing for the borrower, Quarry Place II LLC, through NorthMarq’s relationship with a regional bank.
FORT WORTH, TEXAS — Speed Fab-Crete has completed a 26,250-square-foot BMW dealership in Fort Worth. The property is located at 2828 White Settlement Road. The dealership consists of a rooftop parking structure, sky bridge and a 43-foot-tall clock tower. The parking structure was built using fabricated structural steel and concrete and is located on the roof of the existing Autobahn BMW new car showroom and service facility. It is linked to the adjacent Autobahn BMW Pre-Owned facility’s rooftop parking space by the sky bridge. Since 1996, Speed Fab-Crete has completed more than 300,000 square feet of new construction and renovation projects for Autobahn Motor Group. Fort Worth-based architectural firm Callahan & Freeman designed the clock tower. The project team also included Hurst, Texas-based Metro Structural Consultants Inc., Grand Prairie, Texas-based Pavecon, Granbury, Texas-based Rockin S Construction Co. Inc., Fort Worth-based Williams Electric and Everman, and Texas-based Williams Air Conditioning & Heating Inc.
SCOTTSDALE, ARIZ. – Weingarten Nostat has acquired Scottsdale Horizon Shopping Center, a 154,766-square-foot neighborhood shopping center, for an undisclosed sum. The center is located at 14850 N. Frank Lloyd Wright Blvd. in Scottsdale. It was 95 percent leased at the time of sale. Notable tenants include Safeway, CVS Chase Bank, H&R Block, Supercuts, Jack in the Box, Massage Envy and Leslie’s Pools. The seller, CHC–Real Estate, was represented by DTZ’s Dan Wald, Michael Hackett and Ryan Schubert.
SAN DIEGO – Shelter Island Village, a 16,013-square-foot retail center in San Diego’s Point Loma submarket, has sold to Investcal Realty Corporation for $7.3 million. The center is located at 2904 Shelter Island Drive. Notable tenants include Supannee House of Thai, the Wine Pub, Stars and Stripes, Edward Jones, Haute Spa, Marvelous Muffins, Postal Annex and Subway. The center was built in 1990 by Union Bank of California (UBOC), which also operates an adjacent UBOC branch. Shelter Island is known for its distinctive Cape Cod-style architecture. Investcal represented itself, while the seller, Shelter Island Village LLC, was represented by Brian Quinn, Steve Avoyer and Matt Peckham of Flocke & Avoyer Commercial Real Estate, as well as by Jack Naliboff and Craig Carlson of Stepstone Realty.
DENVER – A 3,798-square-foot building near Denver that is leased to Kneaders Bakery and Café has sold to an unnamed buyer for $2.5 million. The space is located at 19190 East Main Street in Parker, just southeast of Denver. It also contains a 1,400-square-foot patio. The bakery holds a 15-year lease at the newly constructed property. The transaction was executed by Tom Ethington and Rob Edwards of Pinnacle Real Estate Advisors.
ATLANTA — Atlanta-based developer Jamestown has revealed 13 new retail tenants for its Ponce City Market development, a 2 million-square-foot, adaptive reuse project in Atlanta’s Old Fourth Ward neighborhood. Ponce City Market is a retrofitting of the 1920s-era Sears, Roebuck & Co. building on Ponce de Leon Avenue, which is located along the Atlanta Beltline. The property features a marketplace with a central food hall (opening in spring 2015), loft apartments and boutique office space. The retail tenant roster includes The Frye Company (4,135 square feet); Oakleaf & Acorn (700 square feet); The Jean Machine (1,200 square feet); Williams-Sonoma Home (9,251 square feet); Madewell (3,017 square feet); West Elm (13,750 square feet); Anthropologie (11,618 square feet); Mountain High Outfitters (6,900 square feet); Rejuvenation (6,000 square feet); Goorin Bros. Hat Shop (1,000 square feet); J. Crew (5,382 square feet); Michael Stars (1,539 square feet); and Lou Lou Accessories (1,200 square feet). The retailers will begin to open their stores in the spring in conjunction with the opening of the central food hall, according to the Atlanta Business Chronicle.
SCOTTSDALE, ARIZ. – Fate Brewing Co. has purchased a 15,000-square-foot building in Scottsdale to open a new brewpub location. The space is located at 1312 N. Scottsdale Road. The new space will include a large beer garden-style patio and 19-foot interior ceiling heights. The new location will also brew Fate’s flagship beers, while its original nearby location will continue brewing its small batch, limited-release beers. Plato’s Closet will also take up residency in the building. The buyer, Tom Frenkel, represented himself in the transaction. The seller, SBI Leasing Inc., was represented by Brian Kocour and Courtney Auther Van Loo of Cushman & Wakefield.