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.
MARIETTA, GA. — GBT Realty Corp. has purchased a 1.7-acre retail site at the intersection of Roswell Road and East Cobb Drive in the East Cobb district of Marietta, a suburb of Atlanta. GBT Realty acquired the site, which currently houses a 10,240-square-foot Chuck E. Cheese’s, from Empress Theatres Inc. for $1.7 million. The site is located across East Cobb Drive from an LA Fitness-anchored shopping center and across Roswell Road from a Dick’s Sporting Goods-anchored shopping center. Other nearby retailers include Trader Joe’s, Whole Foods and Target. GBT Realty plans to begin demolition of the Chuck E. Cheese’s this spring.
PLANO, TEXAS — Marcus & Millichap has arranged the sale of Village at Los Rios, a 24,805-square-foot retail property located in Plano. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a developer. Vitorino also procured the buyer, a local partnership. Built in 2003, the Kroger shadow-anchored retail property includes two buildings with a pad site for future development. Village at Los Rios is located at 1445 Los Rios Blvd. in Plano, just north of 14th Street. Tenants at the property include State Farm, Check ‘n Go, Cato and Great Clips. At the time of listing, Village at Los Rios was 81 percent occupied.
HOUSTON — HighStreet Net Lease Group represented a private investor in the acquisition of a single-tenant net-leased asset located at 26050 NW Freeway in Houston. Denny’s occupies the property and has multiple years remaining on a ground lease with an established multi-unit franchisee that has operated the location since its development more than 10 years ago. The 4,000-square-foot property is located in a retail corridor of northwest Houston. The immediate area is home to retailers such as Walmart, Home Depot, Lowe’s, Hobby Lobby, Target, Kroger, JC Penney and Bed Bath & Beyond. The Denny’s net leased investment property was an off-market transaction.
