HOUSTON — Coldwell Banker Commercial United Realtors has arranged the sale of two retail centers in Houston in separate transactions. The first is a 4,800-square-foot building located at 3014 Scott Street near the University of Houston. Daniel Bekele of Coldwell Banker represented the seller, a law firm. Oscar Hoang of Annam Realty represented the buyer, an investor. The second is a 16,450-square-foot strip center located at 3922 Old Spanish Trail. Mark McGinley of Coldwell Banker represented the seller. Van Pham of Champions Real Estate Group represented the buyer, an investor.
HUMMELSTOWN, PA. — A joint venture partnership between Heidenberg Properties Group, Norse Realty and Strategic Real Estate Partners has acquired Hershey Square Shopping Center in Hummelstown. Hershey Trust Company sold the property for $28.5 million. Developed in 1994, the 218,290-square-foot, supermarket-anchored center includes 30,600 square feet of in-line retail space and six outlots, including Applebee’s, Panera Bread and Verizon. Heidenberg Properties and its partners own and manage approximately 3.5 million square feet of retail, including several locations throughout Pennsylvania.
LOS ANGELES — Fogo de Chao has signed a 15-year lease for 7,414 square feet in Downtown Los Angeles. The Brazilian steakhouse will be located at 800 S. Figueroa Street in the city’s Financial District. It will be situated across the street from the FIGat7th open-air shopping mall. The lease is valued at $6.2 million. The space was previously occupied by Roy’s Hawaiian Fusion. It is currently undergoing tenant improvements. Fogo de Chao is hoping to open in the fourth quarter of this year, in time for the holiday season. The restaurant was represented by Sierra Commercial Real Estate. The landlord, 800 Fig Verona Corp., was represented by Derrick Moore of Avison Young.
LOS GATOS, CALIF. – A 12,800-square-foot retail property in Los Gatos has sold to a limited liability company for $6.1 million. The property is located at 102 South Santa Cruz Ave. It was built in 1974. Notable tenants at the property include 101 Broadway and The Spa. The LLC was represented by Anh Stovall, J.J. Taughinbaugh and Yuri Sergunin of Marcus & Millichap’s Palo Alto office.
SAN DIEGO – A 9,945-square-foot retail property in San Diego has sold to Howard Park of 1999 Park Family Trust for $2.7 million. The property is located at 7763-67 Balboa Ave. The space was originally built for Color Tile, which occupied the property for more than 20 years. The new owner, which also owns T-Shirt Mart and several related retail stores, will upgrade the property. The trust plans to occupy about 60 percent of the space.
CONROE, TEXAS — Bellomy & Co. has arranged the sale of Preferred Mini Storage in Conroe, 40 miles north of Houston. The Class A property has 407 climate and non-climate controlled units in 42,240 rentable square feet. It was built in 1995 and 1997 on 3.6 acres and was 95 percent occupied at the time of sale. Bill Bellomy, Michael Johnson and John Owens negotiated the transaction on behalf of the unnamed seller and the buyer, a Houston-based partnership.
MARIETTA, GA. — Colliers International’s Southeast retail investment sales team has brokered the sale of two shopping centers in the Atlanta suburb of Marietta totaling $14.4 million. The two assets include the 88,369-square-foot Home Center Village and the 206,828-square-foot Marietta Plaza. Home Center Village is 90 percent leased to tenants such as Dollar Tree and Anna’s Linens and includes Walmart Supercenter as a shadow anchor. The Geneva Group purchased Home Center Village from Mimms Enterprises for roughly $6.9 million. Marietta Plaza is anchored by Burlington Coat Factory. The Simpson Organization purchased the asset for roughly $7.5 million. Joe Montgomery and Tony D’Ambrosio of Colliers International represented the sellers in both transactions.
SICKLERVILLE, N.J. — Katz Properties of New York has purchased Gloucester Town Center, a shopping center in Sicklerville, for $10.3 million. Located at 509-543 Berlin Cross Key Road and built in 2003, the 107,220-square-foot center is anchored by a 57,560-square-foot Acme supermarket. Additional tenants include Dollar Tree, Columbia Bank, STS Tire, Hallmark, Slim Chicks Fitness, Marco’s Pizza, Brite Cleaners, Nail Tech and Post Net. Brad Nathanson of CBRE Philadelphia represented both the buyer and seller in the transaction. Tim Breda of Goedecke & Co. arranged mortgage financing for the shopping center.
LAS VEGAS – A 4,320-square-foot building in Las Vegas that is leased to Krispy Kreme donuts has sold to Richmond-Southpoint 10 LLC for $3 million. The building is located at 9791 S. Eastern Ave. The LLC was represented by Jeff Berg and Mica Berg of Sun Commercial Real Estate. The seller, BSWC Properties LLC, was represented by Cathy Jones, Paul Miachika, Jessica Cegavske, Roy Fritz and Cash Jordan of the same firm.
DALLAS AND AUSTIN — Four new locations of the Austin-based fast casual restaurant VERTSKEBAP, including three in the Dallas area and one in Austin, are set to open by the end of the year. The new locations will be at 5100 Beltline Road in Addison, 859 State Highway 21 in Lewisville, the corner of Highway 75 and Walnut Hill Road in Dallas and in the South Shore District in Austin. The new stores will bring VERTSKEBAP’s storefront count to 20. Earlier this year, the company opened three new locations in Austin and six in Houston. VERTSKEBAP plans to continue expansions in Dallas, Houston and San Antonio in 2015. The restaurants are built around Doner Kebap, a popular street food in Germany.