EUREKA, MO. — Gershman Commercial Real Estate has brokered the sale of a 15,859-square-foot retail space located at 98 The Legends Parkway in Eureka. CUNA Mutual Investment Corp. sold the property to The Legends Plaza LLC for an undisclosed sum. Roger Zigler and Stephen Symsack of Gershman Commercial represented both parties in the transaction.
PURCELLVILLE, VA. — ECHO Realty has purchased Purcellville Gateway, a 90,000-square-foot grocery-anchored shopping center located at the intersection of Berlin Turnpike and Main Street in Purcellville, a town in Virginia’s Loudoun County. Jordan Lex and John Owndoff of HFF brokered the transaction. The developers, a partnership between Roadside Development and Harris Teeter, built the shopping center on the original Cole Farm site and preserved three of the original structures. One of the original barns is occupied by The Wine Kitchen and IJ Canns American Grille, and the silo that once held grain for the farm now houses equipment to support the public water feature and fountain. Originally opened in 2012, a second phase of the development opened in 2015, featuring The UPS Store and a new Starbucks drive-thru location, as well as an expanded Pet Valu. Chick-fil-A will also open later this year on the northeastern corner of the property, and ECHO is exploring plans to build additional, light density retail and residential use on a three-acre parcel at the northwest corner of the property. Purcellville Gateway is ECHO Realty’s first center acquired in Virginia and the new ownership has chosen to retain the management and leasing services of Roadside …
ROSENBERG, TEXAS — Paragon Outlet Partners, a retail real estate development firm headquartered in Baltimore, has finalized plans to develop Paragon Outlets Houston. Upon completion of Phase I, the ground-up project, which sits 30 miles southwest of Houston, will include more than 283,000 square feet of gross leasable area. Located in the city of Rosenberg along I-69 and Reading Road in Fort Bend County, which has been ranked by Forbes as the fifth fastest growing county in the United States, Paragon Outlets Houston is slated to open in November 2016. The outlet mall is expected to bring 400 construction jobs along with up to 1,000 permanent jobs to the marketplace.
HOUSTON — Coldwell Banker Commercial United Realtors has arranged the sale of 18,500 square feet of land located at 7415 Roswell St. in Houston. David Hummel of Coldwell Banker Commercial United Realtors represented the seller, and A & V Services Inc. was the buyer. The land will be used for a car dealership.
SAN ANTONIO — Standridge Cos. and Legacy Capital Co. have formed a partnership and acquired multiple tracts totaling 45 acres within the Monterrey Village mixed-use commercial project at the southwest corner of Loop 410 and S.H. 151 in western San Antonio. The tracts are fully entitled and ready for development and sales to end-users and developers. The Monterrey Village acquisition is the second investment partnership between Legacy Capital and Standridge. The two companies recently completed a 33-acre project on the north side of SH 121 between Paige Road and Blair Oaks Drive, just northwest of Nebraska Furniture Mart in The Colony.
SAN DIEGO – An 11,893-square-foot retail building in the San Diego submarket of Hillcrest has sold to Ohio Street Villas Group LLC for $2.3 million. The building is located at 3580 5th Ave. Ohio Street plans to completely renovate the property for retail, office and restaurant use. The LLC was represented by Marc Posthumus of Colliers International. The seller, Cha-Cha Properties LLC, was represented by DTZ’s Danny Fitzgerald and Pascale Loele.
TIGARD, ORE. – A 2,000-square-foot property in Tigard that is net leased to Starbucks has sold to a limited liability company for $1.8 million. The space is located at 9785 SW Shady Lane, near Washington Square Mall. It is situated just off Highway 217. Construction on the building was completed in late April. Starbucks opened in early May. Justin Poor represented both the buyer and seller, another LLC, in this transaction.
AMES, IOWA — The Opus Group has added two tenants to The Foundry in Ames. Starbucks Coffee and Barefoot Campus Outfitter both signed leases for ground-floor space at the 53-unit student housing complex. Slated to open in fall 2015, Starbucks will occupy 2,000 square feet and Barefoot Campus Outfitter will occupy 3,500 square feet. The developer broke ground on The Foundry last fall. Slated to open this August, the project’s residential space is 100 percent pre-leased with 1,900 square feet of retail space still available. Chris Thomason and Steve Scott of NAI Optimum represented Opus in both transactions. Boh Kurylo of The Lerner Company represented Starbucks and Ryan Davenport of Scott Brown Commercial represented Barefoot Campus Outfitter in the deal.
MILWAUKEE, WIS. — Siegel-Gallagher has brokered a 17,000-square-foot lease of retail space at 2220 N. Commerce St. in Milwaukee. Adventure Rock Inc. leased the space for a build-to-suit gymnasium from RiverCrest Equity II LLC, an affiliated entity of Mandel Group Inc. The mixed-use project will also include 46 apartment units on the final parcel in the Humboldt Yards development, which includes Pick-N-Save, Columbia St. Mary’s and RiverCrest Condominiums. John Kuhn of Siegel Gallagher represented the tenant in the transaction.
ST. SIMONS ISLAND, GA. — Westwood Financial Corp. (WFC) has acquired Retreat Village, a 108,600-square-foot grocery-anchored shopping center located at 220 Retreat Village in St. Simons Island. WFC purchased the Winn Dixie-anchored center from Pace Properties LLC and Somera Capital Management LLC for an undisclosed price. The property is currently 97 percent occupied by tenants including H&H Lifestyles, Bonefish Grill, Edwin Watts Golf, AT&T, Great Clips, Subway, Burger King and Verizon Wireless. Richard Reed of HFF represented the sellers in the transaction.