HOUSTON — Baker Katz, a Houston-based commercial real estate brokerage firm, has negotiated 59,608 square feet of Mattress One leases in the Houston area during the first half of 2014. Clay Alberts of Baker Katz negotiated the leasing of 16 Mattress One locations with a number of brokers. The leases are at both freestanding structures and shopping centers. Five stores are in Houston proper, while the others are in suburbs including Nederland, League City, Spring, Port Arthur, Beaumont, Tomball, Katy and Cypress.
Retail
HUMBLE, TEXAS — HFF has brokered the sale of Atascocita Shopping Plaza, a 158,613-square-foot retail center in Humble anchored by a grocery store. HFF marketed the property on behalf of the seller, Red Tail Acquisitions. A private investor bought the building. Atascocita Shopping Plaza sits on 16.7 acres at 6900-7072 FM 1960 in Humble, less than seven miles from I-69. The property is 94.7 percent leased to tenants including Aldi, Dollar Tree, Specs and Goodwill. HFF’s sales team included senior managing director Rusty Tamlyn, managing director Ryan West and associate director Matt Berry.
LAS VEGAS – Ikea has submitted plans to open its first Las Vegas location in the Spring Valley submarket. The 351,000-square-foot outpost would be situated on 26 acres along the northern side of Interstate-215 at Durango Drive, near Sunset Road. The new store would feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area, and a 450-seat restaurant serving Swedish specialties like meatballs with lingonberries and salmon plates, as well as American dishes. The Swedish home furnishings retailer hopes to open the new store in summer 2016. The next closest Ikea locations for Las Vegas include Covina, Calif., Tempe, Ariz.; or Draper, Utah.
NEWNAN, GA. — Colliers International has arranged the $10.2 million sale of Merchant’s Crossing, a 174,059-square-foot shopping center located at 50 Bullsboro Drive in Newnan, about 39 miles southwest of Atlanta. Slate Properties Inc. purchased the Kroger-anchored shopping center from Brixmor, a REIT that owns more than 500 grocery-anchored shopping centers in the United States. Joseph Montgomery III and Tony D’Ambrosio of Colliers International represented the seller in the transaction.
BIRMINGHAM, MICH. — Mid-America Real Estate Corp.’s investment sales team, in cooperation with NAI Farbman, brokered the sale of The Willits Retail, a 25,396-square-foot retail center in Birmingham, an affluent suburb of Detroit. Southfield, Mich.-based Seligman Group purchased the property for an undisclosed sales price. The center includes two premier dining restaurants — Mitchell’s Fish Market and Cameron’s Steakhouse, a TD Ameritrade and Darakjian Jewelers. Ben Wineman of Mid-America Real Estate Corp. and Bill Bubniak of NAI Farbman represented the seller, New York-based The Related Cos., in the transaction.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Iron Gate Self Storage, a 44,100-square-foot self storage facility in San Antonio. Brandon Karr, senior associate in Marcus & Millichap’s Fort Worth office, marketed the property on behalf of the seller, an unnamed partnership. The buyer, an unnamed private investor, was also secured by Karr. Iron Gate Self Storage is located at 2410 Southwest Loop 410 in San Antonio. It was built in 1965 and consists of 372 non-climate-controlled units. The property includes an on-site manager’s residence, video surveillance, personalized keypad gated entry, roll-up doors, perimeter fencing, concrete foundations and asphalt driveways.
TUCSON, ARIZ. – A 10,040-square-foot retail property in Tucson that is occupied by Pet Club | R&S Mattress has sold to an individual/personal trust for $2.3 million. The center is located at 3996 West Ina Road. Jamie Medress and Mark Ruble of Marcus & Millichap’s Phoenix office represented both the buyer and the seller, a limited liability company, in this transaction.
HIXSON, TENN. — Carolina Holdings Inc., a Greenville, South Carolina-based retail developer, has delivered and opened a new Verizon Wireless store in Hixson, about nine miles northeast of Chattanooga. Carolina Holdings and Verizon are jointly pursuing LEED certification for the new 4,585-square-foot property. The project team includes architect McMillan Pazdan Smith, civil engineer LeCraw Engineering and general contractor Dooley Mack Constructors. Certus Bank provided construction financing for the project.
SHOREWOOD, ILL. — Grocery store operator Roundy’s Inc. will open a Mariano’s upscale supermarket in Shorewood, approximately 43 miles southwest of Chicago. A grand opening for the new store, located at 950 Brook Forest Ave., is set for Tuesday, July 15. The Shorewood location is the 10th Mariano’s to open of the 11 former Dominick’s locations acquired by Roundy’s in December 2013. The newest Mariano’s location will add 450 new jobs to the community. Across its 26 locations, Mariano’s has created approximately 10,750 jobs in the last four years. The Shorewood store will provide fresh-squeezed fruit and vegetable juices, house-made Italian sausage and signature Bella cupcakes. The supermarket will also include wines from all regions, a specialty cheese shop as well as a bakery. Mariano’s Shorewood will also offer Vero authentic Italian coffee and gelato shop featuring premium coffees fresh-roasted locally and homemade gelato; a floral department; an International aisle highlighting global cuisine; a dietitian; and a full-service pharmacy.
WELLS, MAINE — Boston-based Fantini & Gorga has arranged $2.3 million in first mortgage acquisition financing for Wells Corner Shopping Center, located at 1517 Post Road in Wells. Developed in the 35,400-square-foot center is occupied by Wells IGA Food Market, Dairy Queen, a laundry mat and a family-style restaurant. Casimir Groblewski and Jason Cunnane of Fantini & Gorga arranged the fixed-rate, five-year loan, which was provided by a Massachusetts-based lending institution, on behalf of Wells Corner Shopping Center LLC, a Maine-based limited liability company.