SAN FRANCISCO — Christian Dior has announced it will open a 10,000-square-foot flagship store in San Francisco. The international fashion house will be located on three floors at 185 Post Street in the Union Square shopping district. It is scheduled to open in 2016. Grosvenor Americas purchased the building in 2005. Originally built in 1908, Grosvenor set about to preserve the building’s brick exterior by encapsulating it in layers of translucent and frosted glass. The firm also upgraded all of its building systems, including seismic protection. Grosvenor owns nearby properties at 251 and 180 Post Street, which are leased to notable tenants like Coach, The North Face, Ghurka and Facconable, among others.
Retail
MIAMI — Koniver Stern Group has arranged the $10.1 million sale of Eureka Plaza, a 66,142-square-foot shopping center located at 18300 S.W. 137 St. in Miami. The shopping center is comprised of a 52,450-square-foot Winn-Dixie, a 3,367-square-foot McDonald’s, a 3,500-square-foot Pollo Tropical and three free-standing retailers. Larry Soroka of Koniver Stern Group represented the buyer, Eureka Plaza Group LLC.
WOODBURY, MINN. — The Boulder Group has arranged the $2.3 million sale of a single tenant Chuck E. Cheese’s ground lease in Woodbury. The newly constructed 15,762-square-foot retail building is located at 445 Commerce Drive on a 2.3-acre parcel. The new building is adjacent to a SuperTarget and is the most recent addition to the Commerce Hill Shopping Center, which also includes a McDonald’s, Bruegger’s Bagels, European Wax, Great Clips and CorTrust Bank. Chuck E. Cheese’s is the sole occupant of the building and has 15 years remaining on the ground lease, which features 10 percent rental escalations every five years. The entertainment franchise operates a system of 567 stores located in 47 states and nine foreign territories. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction. The buyer was a private investor from the West Coast.
COLUMBUS, OHIO — The Gilbert Group Inc. has been selected by a California-based owner to provide property management and project leasing services for the Georgesville Center, a shopping center in Columbus. Located at 1355-1397 Georgesville Road, the property consists of two retail buildings totaling approximately 26,390 square feet of space. The center is visible from I-270 and is shadow anchored by a Walmart Supercenter. Tenants at the center include Starbucks Coffee, Jimmy Johns Subs, Davita Dialysis and Verizon Wireless. There are currently four spaces available at the center, which range from 1,365 square feet to 5,506 square feet.
MEDFORD, MASS. — Lexington, Mass.-based Bierbrier Development has completed the $22.8 million refinancing of Wellington Circle Plaza in Medford. Located at the junctions of Routes 16 and 28, the property is a 55,000-square-foot shopping center with national tenants, including CVS/pharmacy, Men’s Wearhouse, LenCrafters and Chipotle. The borrower purchased the property in 1985. Matthew Kirsch at Bank of America provided the 10-year financing. Brian Cororan and Lee Norman of Ackman-Ziff represented Bierbrier in the transaction.
FLOWER MOUND, TEXAS — Moviehouse & Eatery is coming to Lakeside DFW, Realty Capital Management LLC’s master-planned, mixed-use community in the Dallas/Fort Worth suburb of Flower Mound. Construction is underway on a new 45,000-square-foot facility that will feature eight auditoriums, a chef-prepared menu, professional wait staff and bar/lounge area. Moviehouse & Eatery, which is based in Austin, owns and is developing the property under Realty Capital Management’s master plan guidelines. The general contractor on the project is Blalock Building Co. At full build-out, the 150-acre Lakeside DFW will include 2,200 multifamily units and 705,000 square feet of commercial space.
GRAHAM, TEXAS — Marcus & Millichap has brokered the sale of First Texas Plaza, a 9,500-square-foot retail property in Graham, a city located about 40 miles southeast of Lubbock. Constructed in 2008, the strip shopping center is located on one acre at 2110 Highway 16 South. The facility is fully leased to Hibbett Sports, AT&T, The Cash Store and Graham Nail & Spa. All of the tenants lease their respective spaces on a triple-net basis. Philip Levy and Chris Gainey of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Levy and Gainey also secured the buyer, a private investor.
MESA, ARIZ. — Village Square at Dana Park, an urban lifestyle center in Mesa, has added three new tenants to its roster. Pita Jungle recently opened a new 3,600-square-foot space; Soma Intimates has occupied 2,200 square feet; and Thinique has debuted a new 2,300-square-foot studio at the center. The three leases total more than 8,000 square feet. Village Square is owned by Whitestone REIT.
HOMER GLEN, ILL. — Marcus & Millichap has arranged the $3.1 million sale of Chili's, a 5,557-square-foot net-leased property located in Homer Glen. The restaurant, located at 14205 S. Bell Road, is a 20-year, absolute net-lease property that includes four, five-year option periods with 1.5 percent annual rental increases throughout the lease. ERJ Dining guarantees the lease.Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private investor. Sharko and Weisenbeck also represented the buyer, also a private investor.
AIKEN, S.C. — JLL has arranged the $28.9 million sale of Hitchcock Plaza, a 252,097-square-foot shopping center in Aiken. Inland Real Estate Group purchased the asset from Hendon Properties. The shopping center’s tenant roster includes Ross Dress for Less, T.J. Maxx, Bed Bath & Beyond, Old Navy and Academy Sports + Outdoors. Margaret Caldwell and Kris Cooper of JLL represented Hendon Properties in the transaction.