SAN ANTONIO — James Avery, a Texas-based jeweler, has opened a new store at South Park Mall in San Antonio. The location features James Avery’s new store design. It’s the company’s ninth location in the San Antonio metroplex and its 70th store overall. The new store is located at 2310 SW Military Drive, just off I-35.
Retail
LEXINGTON PARK, MD. — Federal Capital Partners (FCP) and Westmoreland Partners have sold Lexington Village, a 160,000-square-foot shopping center, for $24.1 million. The 96 percent leased center is located at the intersection of Maryland Route 235 and Buck Hewitt Road in Lexington Park. After acquiring the property in 2010, FCP and Westmoreland completed the development of the property.
FLOWOOD, MISS. — Inland Real Estate Income Trust Inc. has acquired Dogwood Festival Shopping Center, a 187,610-square-foot retail center located in Flowood, roughly 10 miles northeast of Jackson. Lou Quilici of IREIT Business Manager & Advisor Inc. brokered the transaction. The property is 97.8 percent leased to 36 tenants, including T.J. Maxx, HomeGoods, Old Navy, Gap, Men’s Wearhouse and Hibbett Sports.
SYRACUSE, N.Y. — Carrols Restaurant Group has entered into a definitive agreement to purchase 21 Burger King restaurants from Kessler Group. The restaurants are around Rochester, N.Y., and in the Southern Tier region of Western New York. The transaction is expected to close by the end of July. This transaction is the latest in Carrols’ move to expand and increase its ownership of Burger King restaurants. The company recently acquired eight restaurants in two separate transactions — four locations in the Pittsburgh market and four locations in Fort Wayne, Ind.
BRANDON, FLA. — Publix Grocery Stores Inc. has purchased Kingsway Crossing, a 63,423-square-foot, Publix-anchored shopping center in Brandon, about 11 miles west of Tampa. Publix purchased the asset from Valrico Lake Brandon LP, a private Canadian investment entity, for $8.2 million. The shopping center, located at 1254 Kingsway Road, is 90 percent leased to tenants including Great Clips, Metro PCS and Kumon Learning Center. Mark Shellabarger and Dennis Carlson of CBRE represented the seller. CBRE handles the property management and leasing of Kingsway Crossing.
TOMS RIVER, N.J. — HFF has arranged a $20 million loan for the refinancing of Tri-City Plaza, a 108,109-square-foot retail center in Toms River. Situated on 15.97 acres at 2360 Lakewood Road, the property is fully occupied by 17 tenants, including Super Stop & Shop, Dollar Tree, Starbucks Coffee, GN and The UPS Store. HFF secured the fixed-rate loan through a life company for the borrower, Paramount Realty Services. Jon Mikula, Jim Cadranell and Samuel Seiden of HFF negotiated the refinancing, which will replace existing debt on the property.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a Dollar Tree (dba Deal$) location at 78-02 Metropolitan Ave. in the Middle Village neighborhood of Queens. The 10,240-square-foot, net-leased retail property sold for $4.6 million. Scott Plasky of Marcus & Millichap represented the seller, a New York-based retail developer, in the transaction.
LOS ANGELES — The Shops at Library Court, a 9,903-square-foot, ground-floor retail space that sits below 90 luxury loft condominiums in Los Angeles, has sold to a local private investor for $6.9 million. The space is located at 630 W. 6th Street. The center is fully occupied by tenants like Ocho Mexican Grill, Loose Leaf, Subway, Mitaki, Library Bar and Sixth Street Tavern. Eric P. Wohl of Hanley Investment Group and Carlos J. Lopez of HI Urban Retail Advisors represented both the buyer and seller, a San Francisco-based private investor, in this transaction.
FREMONT, CALIF. — Dress Barn has signed a lease for a 6,597-square-foot space in The Block at Pacific Commons Shopping Center in Fremont. The space is located at 43824 Pacific Commons Blvd., near Interstate 880. Dress Barn will join anchors Target, Costco and Century Theaters at the outdoor shopping center. The store is expected to open this fall. Dress Barn was represented by Tom Power and Ross White of SRS Real Estate Partners. The landlord, Catellus Development, was represented by Annie Jabuka of Terranomics.
POOLER, GA. — Carolina Holdings Inc. has opened Landing 405, a retail strip center located at 405 Pooler Parkway in Pooler, about 10 miles outside of Savannah. The property’s tenant roster includes Starbucks Coffee, Tijuana Flats and McAlister’s Deli. The project team includes architect McMillan Pazdan Smith, civil engineer LeCraw Engineering and general contractor Harper Corp. GrandSouth Bank provided construction financing.