SAN FRANCISCO — Dick’s Last Resort leased 9,151 square feet at the Anchorage Square shopping center inside Fisherman’s Wharf. The center is located at 500 Beach Street in San Francisco. The restaurant is scheduled to open this summer. It will be the chain’s third West Coast location. Dick’s also operates outposts in San Diego and Las Vegas. The restaurant was represented by Steve Graul of Innovative Concept Associates. The landlord, CBRE Global Investors, was represented by Rhonda Diaz Caldewey and Jessica Birmingham of Terranomics Retail Services.
EVANS, COLO. – A 17,460-square-foot retail strip center in Evans has sold to 1031 exchange buyers for $1.8 million. The center is located at 3225 S. 23rd Street, southeast of Fort Collins. Dollar Tree is one of the center’s notable tenants. Other area tenants include Walmart and Sam’s Club. The buyers were represented by Jamie Mitchell of Pinnacle Real Estate Advisors.
PALM BEACH GARDENS, FLA. — CIT Real Estate Finance, a subsidiary of CIT Group Inc., has provided a $26 million loan to redevelop the PGA Plaza Shopping Center, a retail center located in Palm Beach Gardens. The borrowing entity is a joint venture headed by Menin Development, a commercial real estate owner and developer. CIT Real Estate Finance provided the loan through CIT Bank, the U.S. commercial bank subsidiary of CIT Group.
WASHINGTON, D.C. — Calkain Urban Investment Advisors, a division of Calkain Cos., has brokered the sale of a retail condominium unit at 1401 R St. N.W. in Washington, D.C. The 1,278-square-foot unit sold for approximately $1.4 million, or $1,100 per square foot. The property is leased on a long-term, triple net basis to a local restaurateur who is operating a café. Andrew Fallon and Rick Fernandez of Calkain represented the seller, a developer based in Washington, D.C., in the transaction. The buyer was a Washington, D.C.-based real estate firm.
SAN BRUNO, CALIF. — Destination XL will soon open an 8,215-square-foot outpost at the San Bruno Towne Center. The center is located at 1202-1340 El Camino Real, just south of San Francisco. The big-and-tall clothing and shoe store is operated by Casual Male Retail Group. It was represented by Katie Singer and Jessica Birmingham of Terranomics Retail Services.
BOISE, IDAHO — Southshore Marketplace in Boise is being redeveloped by Pine Tree and Inland Real Estate Corporation. The 103,000-square-foot structure was formerly occupied by Kmart. The new project will be anchored by Gordmans Department Store.
CHARLESTON AND FLORENCE, S.C. — Faison Enterprises Inc., a private real estate developer and owner based in Charlotte, N.C., has acquired two retail centers in South Carolina. The properties include the 350,000-square-foot Ashley Landing in Charleston and the 113,922-square-foot Crossroads Center in Florence. Ashley Landing is 92 percent leased to tenants including Publix, Burlington Coat Factory, Dollar Tree, Big Lots, Wells Fargo, Harbor National Bank and First Federal of Charleston. Scott Adams of Adams and Wilson Properties represented Faison in the transaction. Crossroads Center is 96 percent leased to Hamrick’s, Planet Fitness, LifeWay and Dollar Tree. Berkeley Capital Advisors’ Charlotte office arranged the transaction.
ST. PETERSBURG, FLA. — CBRE has brokered the sale of Marina Village, a 61,775-square-foot retail center in south St. Petersburg. The property is located at 4701-4949 34th St. South and is 79 percent leased to Dollar Tree, Radio Shack, Beef O’Brady’s, JSA Healthcare, The UPS Store and Domino’s Pizza. The buyer, a partnership between Paradise Ventures and ADJ-DIG LLC, purchased the center from EBK Properties Inc. for approximately $3.9 million. CBRE represented the seller in the transaction.
MELROSE PARK, ILL. — A partnership comprised of Chicago-based Origin Capital Partners and Newgard Development has completed the sale of a shopping center, located at the intersection of North Avenue and 25th Avenue in Melrose Park. A national REIT acquired the 113,624-square-foot property for $17.8 million. A 65,439-square-foot Food 4 Less and 30,076 square feet of inline retail tenants, including Starbucks Coffee, FedEx and T-Mobile, occupy the center.
NEWBURGH, IND. — RCG Ventures (Fund I) has completed the sale of Apple Center in Newburgh. A private investment group acquired the 88,348-square-foot retail center for an undisclosed price. Kroger, Ace Hardware and Tradebakers anchor the property. Dan Cooper of Cooper Commercial Group represented RCG in the transaction.