MERIDIAN, MISS. — Sean Glickman of Coldwell Banker Commercial NRT, founder of the Glickman Retail Group, has brokered the $27 million sale of Meridian Crossings, a 206,365-square-foot shopping center in Meridian. Built in 2007, the asset was 96 percent leased at the time of sale to T.J. Maxx, Ross Dress for Less, Bed Bath & Beyond, Best Buy and Books A Million. Glickman represented the buyer, a 106-year-old family-owned company that owns, manages and develops shopping centers in 11 states.
AKRON, OHIO — Phillips Edison Grocery Center REIT II Inc. has acquired a 75,866 square foot grocery-anchored shopping center in Akron for $8 million. The REIT purchased the property from Garrison Central Harvest Plaza LLC, a Delaware limited liability company. Harvest Plaza is located at the intersection of Akron-Canton Road and E. Waterloo Road in the Ellet neighborhood on the southeast side of Akron. A Giant Eagle grocery store anchors the shopping center. Other tenants include Papa John’s, Subway and Super Cuts. The shopping center was fully occupied at the time of sale.
NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the $4.3 million sale of a single-tenant retail building in Naperville. The property is located at 1823 Freedom Drive. Fidelity Investments occupies the property. The site is part of the Freedom Commons mixed-use development. Tenants include Morton’s The Steakhouse, Subway, Athletico Physical Therapy, Jason’s Deli and Maggiano’s Little Italy. A real estate investor based in Scottsdale, Ariz., sold the property. A Chicago-based private real estate investor purchased the property. Chad Firsel of Quantum was the sole broker in the transaction.
PLYMOUTH, MICH. — Colliers International has arranged the lease of a 4,100-square-foot retail space in Plymouth. The property is located at 44717 Five Mile Road. Kent Butler of Colliers International represented the landlord, Sheldon Place LP, in the lease transaction. The Little Gym is leasing the space and plans to open its second Michigan location in April. The franchise currently operates 300 locations throughout the country.
HOUSTON — A development team including Jim Borders and Novare Group, with co-sponsor Batson-Cook Development Co., local development partner Peter W. Dienna, general contractor Batson-Cook Construction Co. and architectural firm Smallwood, Reynolds, Stewart, Stewart, has broken ground on SkyHouse Main. The development will be located at 1725 Main St. in Houston and will feature 336 residences across 24 stories, along with 7,200 square feet of street-level retail space. SkyHouse Main apartment homes will have floor-to-ceiling glass and high-end finishes, including stainless steel appliances, granite countertops, wood floors, balconies and high-speed Internet. The amenity package included a top floor featuring a club room, fitness center, pool and grilling area and unimpeded views of Houston. The project is within walking distance of more than 40 million square feet of office space, the Toyota Center, Minute Maid Park and BBVA Compass Stadium. The project will be adjacent to the Bell Station Metrorail stop, providing access to the Texas Medical Center. SkyHouse Main is the 14th SkyHouse-branded apartment community in the United States following projects in Dallas, Houston, Austin, Atlanta, Tampa, Orlando, Charlotte and Raleigh. The project will generate more than 500 temporary construction jobs and about 50 permanent jobs when finished. Batson-Cook Development …
FRISCO, TEXAS — Gander Mountain, an outdoor retailer, will open a new location in Frisco this fall. The newest Gander Mountain store will be located in a new 60,100-square-foot space in the Eldorado Marketplace, near the northeast corner of Eldorado Parkway and Dallas North Tollway. It will be the 22nd Gander Mountain location in Texas, and the fifth in the Dallas-Fort Worth Metroplex. Gander Mountain’s newest store will feature one of the largest selections of new and used firearms in Texas, together with the best selection of gear and accessories for hunting, fishing, camping, boating and archery. The store will offer a selection of men’s and women’s active performance outdoor and casual apparel featuring brands like Under Armour, The North Face, GSX, Columbia, Carhartt, Guide Series and Kühl, and a variety of men’s and women’s active footwear featuring brands like Asics, Merrell, Rocky, Reebok, Reef, Keen, Irish Setter, Teva, New Balance, Patagonia, Timberland, LaCrosse, Itasca, Saucony and Salomon.
BROWNSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Advanced Auto Parts, a 9,801-square-foot, net-leased property located in Brownsville. Jason Vitorino and Adam Gottschalk of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Hank Wolfer, an investment specialist in the firm’s Seattle office, procured the buyer, a trust group based in Kansas. Advanced Auto Parts is located at 3740 International Blvd. in Brownsville, less than 1.5 miles from US Highway 77. Constructed in 2004 on 2.2 acres, the property is surrounded by tenants including Walmart, The Home Depot, GameStop, State Farm, CVS, Dairy Queen, Sally Beauty Supply, Subway and RadioShack. At the time of listing, Advanced Auto Parts had approximately five years remaining on its 15-year, corporately guaranteed net lease.
SUWANEE, GA. — CBRE has brokered the $7.5 million sale of Suwanee Depot, a 68,409-square-foot shopping center in Suwanee, a northern suburb of Atlanta in Gwinnett County. The shopping center is 91 percent leased to a 20,000-square-foot Office Depot, 22,000-square-foot Georgia Fitness, Jackson Hewitt, Lenny’s Subs, Sylvan Learning and a mix of local service and restaurant tenants. Craig Taylor of CBRE’s Atlanta office represented the sellers, Atlanta-based Columbia Properties and New York-based Red Starr. Taylor brokered the sale in conjunction with Auction.com. The buyer was Mahesh Marjani.
MIAMI — Miami-based Mattoni Group has purchased more than 11,000 square feet of retail space at 1010 Brickell, a 50-floor, 387-unit condominium project in Miami’s Brickell district. Mattoni purchased all the ground-floor commercial units and is planning to lease those spaces to major retailers. 1010 Brickell’s developers, 13th Floor Investments and Key International Development, plan to complete the property in fall 2017. The development is positioned near the Tenth Street Metromover station on the Brickell Loop.
SAN LUIS OBISPO, CALIF. – University Square Plaza in San Luis Obispo has received seven new tenants. The new tenants include Rite Aid, Lassen’s Natural Food & Vitamin, Popeye’s Louisiana Kitchen, Domino’s Pizza, The Pita Pit, Supercuts and a 5,000-square-foot microbrewery/restaurant that has yet to be named. University Square Plaza is located on the corner of Santa Rosa Road and Foothill Boulevard. It is currently undergoing a remodel that should be complete this spring or summer. Clarice Clarke and Steve Leider of Lee & Associates – Central Coast handle the center’s leasing efforts.