CHICAGO — MB Real Estate (MBRE) has won the assignment to manage and lease the Illinois Tollway Oases, six properties servicing commuters and travelers along the Illinois Tollway system. The tollway oases offer patrons a variety of convenient food options, a wide range of services and are directly accessible from the tollway with on-off ramps. Properties include the Belvidere Oasis along I-90; the Lake Forest Oasis on I-94; the DeKalb Oasis on I-88; the Chicago Southland Lincoln Oasis along I-80/I-294; the Hinsdale Oasis on I-294; and the O’Hare Oasis, also on I-294. Current tenants of the oases include the Illinois Tollway, McDonald’s, Starbucks, Best Buy Express, Subway, Illinois Lottery and Sbarro, among others. Kathleen Bertrand of MBRE will serve as the leasing representative for the six properties, which offer a variety of spaces available for lease.
BRADLEY, ILL. — Mid-America Real Estate Corp. has brokered the sale of Village Square Shopping Center in Bradley, 57 miles south of Chicago. A private California-based buyer purchased the 85,002-square-foot center for an undisclosed price. Village Square Shopping Center is located at the northwest corner of Illinois Route 50 and East North St. The retail center is leased to a diverse mix of both national and local retailers, including Jo-Ann Fabrics, Dollar Tree, Premier Rental, Advance America and Carquest. Carly Gallagher and Ben Wineman of Mid-America Real Estate brokered the transaction on behalf of the seller.
ROCKVILLE, MD. — Finmarc Management Inc. has purchased Travilah Square Shopping Center, a 61,496-square-foot property located at the intersection of Darnestown and Travilah roads in Rockville. Finmarc purchased the property from Walgreens for $22.4 million. Travilah Square comprises five buildings and includes a freestanding Burger King and 16,000 square feet of commercial office space, which is currently vacant. Built in 1988, the shopping center is in close proximity to the University of Maryland Shady Grove campus. Including this purchase, Finmarc and its partners have acquired or disposed of more than $400 million worth of properties.
TORRANCE, CALIF. — Grocery chain Fresh & Easy is relocating its executive and administrative hub from El Segundo to nearby Torrance. The hub will be located at 20101 Hamilton Place. NGKF’s David Kluth and Joel Smith negotiated the lease.
WEATHERFORD, TEXAS — Fort Worth-based design-build general contractor Speed Fab-Crete has broken ground on a 60,000-square-foot auto dealership for Roger Williams, the only new car dealer in Weatherford. Slated for completion in April 2016, the new Roger Williams Chrysler, Dodge, Jeep and Ram dealership will be located at 1102 Washington Drive along I-20 and will replace the existing Roger Williams Auto Mall. The dealership’s exterior will be built using precast concrete walls, cast stone, metal accents and floor-to-ceiling panoramic glass. Interior amenities will include a customer lounge, open office spaces, display areas, 25 service bays, car wash facility and parts sector. The new dealership is the largest project included in the company-wide upgrade of Roger Williams’ auto facilities in Weatherford, all of which are being built by Speed Fab-Crete and designed by Callahan & Freeman Architects. Business operations will remain open during the construction process. In addition to Speed Fab-Crete and Callahan & Freeman Architects, the Roger Williams expansion project team includes Fort Worth-based Callahan Structural Engineering Inc. as the structural engineer and Lillian, Texas-based Hulsey Engineering as the mechanical, plumbing and electrical (MEP) engineer.
NEW YORK CITY — SL Green Realty Corp. has inked a 10-year lease with Adidas to occupy retail space at its 115 Spring St. property in Manhattan. The two-level, 5,218-square-foot space will be the new home of Adidas’s Originals boutique. SL Green acquired the retail property in 2014. Jeremy Ezra of RKF represented the tenant, while Ariel Schuster and Ross Berkowitz, also of RKF, represented the landlord in the transaction.
ATLANTA — Charlotte-based FCA Partners has purchased Parkway Pointe, a 196,664-square-foot retail center located in Atlanta’s Cumberland Galleria submarket, for $43.9 million. Anchored by a 15-screen AMC Theatres, the center is located at the northeast corner of Cobb Parkway and Cumberland Boulevard, a couple blocks from I-75 and roughly one mile from the future SunTrust Park, the Atlanta Braves’ new ballpark opening in April 2017. The center was approximately 85 percent leased at the time of sale to tenants such as Main Event Entertainment, Taco Mac, Copeland’s of New Orleans, Pier 1 Imports and Roam. Eastdil Secured represented the seller, Stockbridge Capital Group, in the transaction.
HIALEAH, FLA. — CREC has brokered the $23.1 million sale of El Mercado Shopping Center, a 96,000-square-foot property located at 2400 W. 60th St. in Hialeah in Miami-Dade County. The shopping center was 99 percent leased at the time of sale to tenants such as Publix, Rent-a-Center, Payless Shoes, GNC, Little Caesars Pizza, Pollo Tropical, La Colonia Medical Center, Mary’s Dollar Store and SunTrust Bank. Warren Weiser, Harry Blyden and Andrew Remick of CREC represented the seller, El Mercado Associates Ltd., in the transaction. The buyer is Stockbridge El Mercado LLC, an affiliate of Stockbridge Capital Group.
MILL VALLEY, CALIF. — JLL has agreed to acquire Shelter Bay Retail Group, a retail property management firm based in Mill Valley, for an undisclosed sum. Shelter Bay manages 74 urban and suburban, open-air shopping centers throughout the San Francisco Bay Area, San Jose/South Bay, central and southern California and Arizona. The acquisition is expected to close later this month, subject to customary closing conditions. The properties’ management teams will remain intact to ensure a seamless transition when the deal closes. Shelter Bay’s team of 30 experts will join JLL at closing. Stephen Robertson, chairman of Shelter Bay, will join JLL as director of retail business development, West Coast, while Sondra Van Metre, president and CEO, will join as director of retail property management, West Coast. The two will lead the combined organization’s West Coast retail property management operations.
COLUMBUS, OHIO — The Boulder Group has brokered the sale of a single-tenant net leased Walgreens property located at 4755 W. Broad St. in Columbus for $7.7 million. The 14,820-square-foot property was constructed in 2009 and is located on two acres. The triple-net lease expires in February 2034. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership, in the transaction. The buyer was a real estate investment and property management company based in Ohio.