SANDY SPRINGS AND CONYERS, GA. — HFF has arranged the $25.8 million sale of The Village at Millers Chapel and Trowbridge Crossing in metro Atlanta. The two Publix-anchored shopping centers total approximately 137,000 square feet combined. BIG Shopping Centers purchased both assets from Atlanta-based Columbia Properties Inc. Richard Reid and Jim Hamilton of HFF led the sales team in representing Columbia Properties in the transaction. HFF also arranged acquisition financing through Lincoln Financial Group for the The Village at Millers Chapel purchase. The Village at Millers Chapel at 2159 GA Highway 20 in Conyers was built in 2012 and is currently 98 percent leased to tenants including Publix and Kauffman Tire. Trowbridge Crossing at 7507 Roswell Road in Sandy Springs was renovated in 2013 and is 96.4 percent leased to Publix and the US Post Office.
Retail
SNELLVILLE, GA. — Shane Investment Property Group has brokered the $4.6 million sale of Scenic Square, a 70,060-square-foot shopping center in Snellville, a suburb of Atlanta. The center is 87 percent leased and is anchored by Michael’s, which recently signed a 10-year lease renewal. Elliott Kyle of Shane Investment Property Group represented the buyer, Adams Scenic Square LLC, in the transaction. Dan Cooper of Cooper Commercial Investment Group represented the seller, Cincinnati-based Viking Partners. Sam Perlman of Adams & Co. Real Estate will handle the leasing for Scenic Square going forward.
CARMEL, IND. — Lee & Associates has arranged a lease of a 2,430-square-foot retail space for Huntington National Bank N.A. The space is in the Providence at Old Meridian building, located at 12505 Old Meridian St. Scot Courtney and Bart Jackson of Lee & Associates represented the tenant. Gary Perel of Newmark Knight Frank Halakar represented the landlord, Providence HUD LLC.
FORT WORTH, TEXAS — Trademark Property co. has leased 45,000 square feet of retail space at its Waterside mixed-use development in Fort Worth to Whole Foods Market. The store, which is expected to open by the spring of 2016, will feature a large outdoor seating area. The 63-acre Waterside is located along the Trinity River and will include 185,000 square feet of retail and restaurant space; 20 to 30 acres of multifamily properties; 100,000 to 200,000 square feet of office space; and a signature hotel. Whole Foods is partnering with Trademark to make the development a “Conscious Place” project, which calls for a variety of amenities including a covered community pavilion, children’s play areas and outdoor patios for restaurants. Phase I of Waterside is slated to open in the fall of 2015.
CABAZON, CALIF. — Desert Hills Premium Outlets has opened its 50-store expansion, making it one of the largest centers in the country, according to its owner, Simon Property Group. The outlet center is located on Interstate 10 off of the Malki Road exit on Seminole Drive, next to the Morongo Casino Resort and Spa. The fully leased center now contains 650,000 square feet and 180 stores. The expansion added Alexander McQueen, Bally, Belstaff, CH Carolina Herrera, Fendi, Helmut Lang, John Varvatos, Maje, Max Mara, Rag and Bone, Sandro, Valentino and Wolford to the center. They join notable tenants like Armani, Coach, Elie Tahari, Gucci, Jimmy Choo, Neiman Marcus Last Call, Loro Piana, Polo Ralph Lauren, Prada, Saks Fifth Avenue Off 5th, Salvatore Ferragamo, Tod's, Versace and Saint Laurent Paris. The property also received some enhancements during the expansion. They included the addition of a 1,100-space parking garage, improved landscaping and wider walkways.
TORRANCE, CALIF. – Construction has commenced on Phase II of Storm Plaza, anew retail center in Torrance. The 21,500-square-foot phase will be located on 4.2 acres at the northwest corner of Sepulveda Boulevard and Normandie Avenue. Wells Fargo recently signed onto the center, announcing it would open a 4,250-square-foot branch. The second phase of construction is scheduled for completion this fall. Phase I included a 16,556-square-foot CVS/pharmacy that opened this past November. Phase III of Storm Plaza will add 13,000 additional square feet of space. Anticipated uses include restaurants and large retail. All phases of the $15-million project should be complete by the first quarter of 2015. The 50,000-square-foot Storm Plaza is being constructed on the site of the former Ricky & Ronnie's Drive-in. It is being developed by Storm Properties.
LONG ISLAND CITY, N.Y. — Juice Press has opened a new super-store concept in the Falchi Building in Long Island City. The 18,000-square-foot space is part retail store and part production facility. The facility will allow the company to grow its production of juices, smoothies and food and expand its offerings. The Long Island City store brings the company into its third New York City borough. In April, Juice Press opened two locations in Manhattan: one at the corner of Greenwich and Laight streets and one at 65 West 55th Street. Since its creation in 2010, Juice Press has opened or announced openings for 21 stores in the New York area.
RICHMOND, VA. — Wegman’s has revealed plans to enter the Richmond market with two new locations. The grocer plans to construct a store within West Broad Marketplace, a 350,000-square-foot lifestyle shopping center that is scheduled to open in spring 2016. NV Retail is the developer of the shopping center, which will feature Wegman’s and Cabela’s as co-anchors. Wegman’s is also opening a new store in Stonehenge Village Shopping Center, a planned 230,000-square-foot retail center that Marchetti Properties is developing. Connie Jordan Nielsen of Cushman & Wakefield | Thalhimer handled the lease transactions on behalf of NV Retail and Marchetti Properties. Nielsen and associate Mark Douglas will handle leasing responsibilities for West Broad Marketplace. Nielsen will also lease Stonehenge Village along with associate Nicki Jassy.
FAYETTEVILLE, N.C. — Marcus & Millichap has brokered the sale of a 14,490-square-foot Walgreens store at 1600 Skibo Road in Fayetteville. The property, which sold for approximately $5.6 million, operates 24 hours a day and features a drive thru pharmacy. Michael Early of Marcus & Millichap’s southern Virginia office represented the seller, an individual trust, in the transaction. Ned Zivkovic and Alvin Mansour of The Mansour Group in Marcus & Millichap’s San Diego office secured and represented the buyer, a private investor. James Allen Smith of Marcus & Millichap assisted in the transaction.
NEW YORK CITY — Starwood Capital Group has purchased a 78,000-square-foot retail building located at 150 West 34th Street in New York City. Situated along Manhattan’s 34th Street retail corridor, the property is currently 100 percent leased to Old Navy. The building features three above-ground floors and one below-grade floor, as well as 225,000 square feet of air rights that provide valuable development potential. Starwood Capital acquired the property through a controlled affiliate and terms of the transaction were not disclosed.