HEBRON, TEXAS — Marcus & Millichap arranged the sale of Hebron Plaza, a 14,176-square-foot retail center in Hebron. Philip Levy, vice president of investments in Marcus & Millichap’s Fort Worth office, marketed the property on behalf of the seller, a limited liability company. Hebron Plaza is located at 2425 West Parker Road. The multi-tenant retail center is 92 percent occupied. Tenants include Classy Nails Spa, Crosspointe Church and True Spirits Liquor. The building was constructed in 2008 and sits on nearly 1.6 acres.
Retail
CHARLOTTE, N.C. — Bojangles’ Restaurants Inc. has opened its 600th restaurant, located on Galleria Boulevard off Monroe Road in Charlotte. The Charlotte-based chicken chain expects to open 55 to 60 locations throughout the Southeast this year, adding new restaurants in more than 25 market areas including Atlanta; Birmingham, Alabama; Orlando; Richmond, Virginia; and Nashville, Knoxville and Tri-Cities, Tennessee. This year’s expansion is part of Bojangles’ long-term growth plan to have 1,000 locations open by 2020.
ORLANDO, FLA. — Williams Co. Southeast has begun construction on The Crosslands at Osceola Corporate Center, a $30 million, 427,000-square-foot shopping center. Construction of the retail center, which will be located at Osceola Parkway and Orange Blossom Trail in Orlando, is expected to add 1,000 temporary construction and permanent jobs. The Crosslands’ tenant roster will include Hobby Lobby, Havertys, Boot Barn, Cheddar’s Casual Café, Deals, Discovery Clothing, Marshalls/HomeGoods, Orange Theory Fitness, PetSmart, Ross Dress for Less and Starbucks Coffee. The project team includes ELEVEN18 Architecture, Tupperware Brands Corp., O’Connor Capital Partners and West Palm Beach-based businessman Peter Bergner.
ORLANDO, FLA. — Cuhaci & Peterson Architects Engineers Planners has completed design work on the retail component of The Grove at Isleworth in Orlando. The mixed-use development, developed by Tavistock Group, is located on Apopka Vineland Road near Conroy-Windermere Road and features roughly 125,000 square feet of retail and restaurant space. The Grove’s tenant roster includes Fifth Third Bank, LA Fitness, Panera Bread and Walgreens.
HINSDALE, ILL. — Mid-America Real Estate has brokered the $10 million sale of a 39,710-square-foot shopping center in Hinsdale, located 20 miles west of Chicago. Buffalo Grove, Ill.-based C P Management LLC purchased Gateway Square from Inland Real Estate Corp. The property, located south of the southeast corner of Ogden Avenue and York Road, features tenants Calico Corners, Kumon, Fox’s on York and Egg Harbor Café. Rick Drogosz and Joe Girardi of Mid-America represented Inland in the transaction.
SACRAMENTO, CALIF. – Pacific Castle has acquired four shopping centers in the Sacramento area for $40 million. The acquisitions include Waterman Grove Plaza in Elk Grove, Willow Creek Town Center in Folsom, Zinfandel in Rancho Cordova and Strawberry Creek in Sacramento. The 44,090-square-foot Waterman Grove Plaza is located at 9304-9332 Elk Grove Blvd. in the Elk Grove retail submarket. Major tenants include Panda Express, Subway, T-Mobile and Gamestop. Willow Creek is located at 1001-1011 E. Bidwell Street. It is anchored by SaveMart and CVS. Other notable tenants include IHOP, Chipotle, Golden One Credit Union, Wingstop and Anytime Fitness. The 39,737-square-foot Zinfandel is located at 2817-2863 Zinfandel Drive. It is scheduled to undergo a major renovation and repositioning. Strawberry Creek is located at 8211-8251 Bruceville Road. It is anchored by a Super Target, in addition to tenants like Panda Express, Subway, UFC Gym, Starbucks and Comcast. Pacific Castle also owns the Rancho Cordova Town Center, a power center anchored by a Super Target.
PHOENIX – Walmart has announced plans to open a 148,000-square-foot Walmart Supercenter at Metrocenter Mall in Phoenix. The project is expected to break ground next year. It is scheduled for completion in 2016. Metrocenter Mall is located at 9617 North Metro Parkway E. in the northwestern portion of the city.The 40-year-old mall is set to undergo a major redevelopment. The new Supercenter store will be situated on the site of the former Broadway building, which has been vacant since 2006. That building will be demolished in the first quarter of next year. Metrocenter Mall is owned by Carlyle Development Group. The new store will feature a full-service pharmacy and complete line of groceries, including organic selections, fresh dairy, meat departments and local favorites.
STERLING, VA. — Rock Creek Property Group has sold Regal Center, a 52,500-square-foot shopping center located at 20921-20955 Davenport Drive in Sterling. The Regal Center LLC/Bernstein Management Group purchased the asset for $18.2 million, or roughly $347 per square foot. Regal Center’s tenant roster includes Domino’s Pizza, 7-Eleven, Firehouse Subs, BB&T, UFC Gym, sweetFrog Yogurt, O’Faolains Irish Pub, Cheng’s Oriental Restaurant, Old Virginia Tobacco Co. and The Good Shepherd Alliance.
BOCA RATON, FLA. — Atlantic Commercial Group Inc. has brokered the $12.3 million sale of The Shoppes at Village Pointe, a 73,000-square-foot shopping center in Boca Raton. The property is located on Southwest 18th Street between Military Trail and Powerline Road. Gary Broidis of Atlantic Commercial Group represented the buyer, Boca SVP LLC, an entity controlled by Janoura Realty & Management.
MELBOURNE, FLA. — Faris Lee Investments has arranged the $10 million pre-sale of a recently constructed, 46,000-square-foot retail building in Melbourne. The property, located at 2314 Remi Drive, is fully leased to TJ Maxx and HomeGoods for 10 years. Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the buyer, a private investor based in South Florida, in the transaction. Mousavi and Luther also represented the seller, a Florida-based developer.