CARROLLTON, TEXAS — CBRE has brokered the sale of Josey Rosemeade Shopping Center, a 14,500-square-foot retail property in the Dallas suburb of Carrollton. The unanchored strip center, located at the northeast corner of North Josey Lane and East Rosemeade Parkway, was 100 percent leased at the time of the sale and garnered 20 offers during the marketing period. Jennifer Pierson and Beth Pierson of CBRE represented the unnamed seller in the transaction. Josey Rosemeade LLC, an affiliated entity of Raywood Hasten LLC, purchased the asset.
Retail
PHOENIX — Goodwill Industries of Central Arizona has signed a 10-year lease for 31,200 square feet at South Mountain Crossing in Phoenix. The space is located at the northwest corner of Southern Avenue and 35th Avenue. Goodwill was represented by Andy Kroot of Velocity Retail Group. The landlord was represented by Neil Board of Western Retail Advisors.
INDIANAPOLIS — Fast casual chain Corner Bakery Cafe has signed a multi-unit development agreement with a new franchisee to open several restaurants in Indianapolis later this year, and more in the next six years. Last month, the company announced plans to open nine new restaurants in California's Central Valley. Corner Bakery is actively seeking to expand into new markets including Alabama, Minnesota, Missouri, North Carolina, Ohio and Tennessee.
CHICAGO — Retrofit Chicago’s Commercial Buildings Initiative has accepted Michigan Plaza, located at 205 | 225 N. Michigan in Chicago into its program. The City of Chicago initiated the program in 2012 to promote and assist properties that were identified as candidates to lower energy consumption during a five-year period by 20 percent. As part of the Retrofit Chicago program, the City of Chicago is offering incentives to participating properties, including additional access to resources, permit prioritization and the recognition of achievements through promotional marketing. The city expects to reduce energy use by 20 percent in 24 million square feet within the next five years. This is the second property managed by MB Real Estate to be accepted into the Retrofit Chicago program. In 2012, the firm announced the participation of 333 N. Michigan as well. The Retrofit Chicago program is outlined by the federal government’s strategy to reduce energy costs in buildings.
SUSSEX CO., DEL. — Two new retail businesses, Creative Floors and Wings-to-Go, have opened in Sussex County, located in southern Delaware. Creative Floors, a national flooring provider franchise, leased 1,886 square feet at the Vineyards at Nassau County on Old Vine Blvd. in Lewes. The new store is the second to open in Delaware with the other located in Newark. Wings-to-Go, a national buffalo chicken wings franchise, leased 1,560 square feet in Bayshore Plaza, a new shopping center anchored by Giant Foods in Millsboro. The store is the 10th to open in Delaware. Ann Bailey of NAI Emory Hill’s Lewes office represented the landlords in both transactions.
DENTON, TEXAS — Transwestern has brokered the sale of Denton Town Center, a 77,592-square-foot shopping center in the suburb of Denton, about 40 miles north of Dallas. The property, which includes a pair of two-story buildings, is located across from the Golden Triangle Mall, in proximity to the interchange of I-35 and Loop 288. Long-term tenants include Cici’s Pizza, Vision Works, Sleep Experts, Carter Blood Care, Jason’s Deli and the U.S. Armed Forces. Larry Jordan, Frank Bullock and Steve Williamson of Transwestern represented the seller, a family trust. Dean Flowers and Pete Flowers of Dollar-Flowers Realty Partners represented the buyer, Greenway Investment Co.
MISSOURI CITY, TEXAS — Marcus & Millichap has brokered the sale of Colony Plaza Shopping Center, a 55,022-square-foot retail property in the Houston suburb of Missouri City, for $8.4 million. Located at 4811 Highway 6 South, the facility is in proximity to Dulles Avenue and I-69. Reconfigured in 2004 for three tenants, the building originally housed an Albertson’s grocery store but is now anchored by Star Cinema Movie Grille. Jerry Goldstein of Marcus & Millichap marketed the asset on behalf of the seller, a private investor.
FAIRFIELD, CONN. — Regency Centers Corp. has closed on a $150 million, three-property acquisition in Fairfield. As previously reported in December, the company has acquired an 80 percent majority stake in a portfolio of centers — Black Rock Shopping Center, Brick Walk, and Fairfield Center — as a part of a joint venture with local real estate developer Kleban Properties. Together, the three centers feature 315,000 square feet of mixed-use space, with the retail portion representing 73.5 percent of portfolio revenues. The largest center, Brick Walk, boasts 121,000 square feet of retail, office and residential space. The 92,000-square-foot Fairfield Center is located one block from the Metro North rail station on the New Haven line into New York City. The third property, Black Rock Shopping Center, includes 98,000 square foot of retail space and is anchored by Old Navy, GAP, Massage Envy, and Carter’s stores. All properties are currently fully leased.
NEWTON, MASS. — Bierbrier Development Inc. has broken ground on Needham Street Village Shops, a 19,200-square-foot retail development located at 55 Needham St. in Newton. Needham Street Village Shops will be LEED Silver-certified and ready for occupancy by this summer. The retail center will also feature 79 parking spaces. Bowdoin Construction is serving as the general contractor, Prellwitz Chillinski Associates is the project architect and Atlantic Retail Properties is the leasing agent for the property.
ST. LOUIS — U-Haul Corp. has purchased the old Globe Drug buildings, two historic buildings located at 418 S. Tucker Blvd. in St. Louis, for $3.1 million. Constructed by shoe manufacturer Endicott Johnson Co. in 1915 and 1923, the three-story and five-story buildings total 272,000 square feet. The Globe Drug buildings are listed on the National Historic Registry. The opening of this St. Louis facility will be the 27th U-Haul center in Missouri. U-Haul plans to continue operations of the parking garage, which holds 100 cars. The five-story building will be used as a storage facility, and the three-story building will house the retail showroom for selling boxes and packaging, as well as a vehicle rental service. The company plans to move into the building in late April, after renovations are complete. Patrick McKay, Meade Summers and Frank Yocum of Hilliker Corp. represented the seller, R & G Investment Co., which is the parent company of Globe Drug. McKay also represented the buyer, Amerco Real Estate Co., which is the parent company for U-Haul Corp.