ROMULUS, MICH. — New England Development will develop a 325,000-square-foot outlet center in Romulus, approximately 25 miles southwest of Detroit. Outlets of Michigan will be located near I-94 and the Detroit Metro Airport. The new open-air outlet center, which is scheduled to open in 2016, will feature 75 retailers. New England Development’s portfolio of retail projects now includes a mix of outlet centers in markets nationally. New outlet centers include the recently opened Palm Beach Outlets in West Palm Beach, Fla.; Asheville Outlets in Asheville, N.C.; Outlets at Little Rock in Little Rock, Ark., opening in 2015; and Des Moines Outlets in Altoona, Iowa, opening in 2016.
Retail
NEW YORK CITY — American Realty Capital New York City REIT’s operating partnership has entered into an agreement to acquire a 12,327-square-foot commercial condominium unit at The Hit Factory in Manhattan’s Midtown West neighborhood. Sagamore 54th Avenue St. Investments LLC and Sagamore Arizona LLC are selling the property for $7.3 million, exclusive of closing costs. The property is currently 100 percent leased to Gibson Guitar Corp.
COLLEYVILLE, TEXAS — Whole Foods Market will open a new 40,000-square-foot store at the Colleyville Downs Center in Colleyville on Tuesday, July 8. The property is located at 4801 Colleyville Blvd. at the southeast quadrant of Glade Road and Highway 26. “We are so proud to open a store in Colleyville,” says Dennis Berryman, team leader of the new Whole Foods store. “We love being able to partner with neighbors who share our passion for good food and strong community.”
SALT LAKE CITY — Gold’s Gym Express and ULTA Beauty and Cosmetics have signed on as tenants at Brickyard Plaza in Salt Lake City. Brickyard Plaza is a 306,000-square-foot community shopping center at the corner of 1300 East and 3300 South. Gold’s Gym Express will occupy a 23,000-square-foot space that will open this September. ULTA will absorb a 10,000-square-foot space that was formerly occupied by Shoe Carnival. They will join other notable tenants at Brickyard Plaza, including TJ Maxx, Home Goods, Kohl’s, Ross, Office Max, Dress Barn, Rue 21, Sally Beauty and Tuesday Morning. The landlord, Yacoel Properties LLC, was represented by Chris Hatch and Joe Mills of Mountain West Retail-Investment and Newmark Grubb ACRES.
SANFORD, FLA. — CBRE has arranged the sale of Boulevard Plaza, a 107,117-square-foot shopping center located at 300 W. Lake Mary Blvd. in Sanford. Branch Properties purchased the asset from The Sandefur Cos. for $12.2 million. The property is leased to CVS/pharmacy, Burger King, Papa John’s, Qdoba, H&R Block and Trustco Bank. Albertson’s, Boulevard Plaza’s anchor tenant that ceased operations in 2010, continues to pay its rent obligations. Cliff Taylor and Daniel Baker of CBRE represented The Sandefur Cos. in the transaction.
WESLEY CHAPEL, FLA. — Franklin Street Real Estate Services has brokered the $2.4 million sale of a Tuffy Auto Center and Dairy Queen at 27329 Wesley Chapel Blvd. in Wesley Chapel. The sale represents the second half of a 1031 tax-deferred exchange for the buyer, a Kentucky-based corporation. Rafeal Wright and Jonathan Graber of Franklin Street represented the seller, J&J Wesley Chapel LLC, an Illinois-based company. Franklin Street also procured the buyer.
INDIANAPOLIS — Lee & Associates has arranged the lease of a 9,260-square-foot retail space for Michigan-based brewery HopCat in Indianapolis. Hopcat Broad Ripple will occupy space in the Broad Ripple Garage located at 6280 College Ave. The Indianapolis brewery will be Hopcat’s first location outside of Michigan. The new brewery is set to open in August with 130 taps. Ben Andrews of Sperry Van Ness represented the tenant in the transaction. Bart Jackson and Scot Courtney of Lee & Associates represented the landlord, 6280 LLC, an entity of Keystone Realty Group.
MERRIMACK, N.H. — Calkain Companies has arranged the sale of a two-building, net-leased multi-tenant property in Merrimack. A private buyer acquired the property for $5.3 million. The property is an outparcel to Merrimack Premium Outlets and located near Fidelity Investments’ corporate campus. Tenants of the newly constructed four-tenant center include Starbucks Coffee, Digital Federal Credit Union and Qdoba Mexican Grille. Stanley Wyrwicz of Calkain’s Boston office represented the undisclosed seller in the transaction.
PLANO, TEXAS — SHOP Cos. Investment Sales has arranged the sale of Haggar Square, a 53,750-square-foot shopping center in Plano, roughly 30 minutes north of downtown Dallas. The REO property, located at the intersection of Texas State Highway 121 and Ohio Road, was completely vacant at the time of the sale. The buyer, a private investor from California, purchased the asset for an undisclosed price.
MIAMI — Marcus & Millichap has arranged the $11.6 million sale of Plaza Del Rey, a 50,186-square-foot shopping center located at 10000 W. Flagler St. in Miami, approximately one mile from Florida International University. The property is 95 percent leased to tenants such as Navarro Discount Pharmacy, Rent-A-Center, T-Mobile and Vicky Bakery. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller and the buyer, both limited liability companies based in Miami.