OSAGE BEACH, MO. — A 20,000-square-foot Bed, Bath & Beyond has opened at Lakeview Pointe Shopping Center in Osage Beach. With this opening, approximately 137,000 square feet of the 150,000-square-foot, Dierbergs-anchored shopping center will be occupied. The center is occupied by The UPS Store, JJ Twigs Plaza, Great Clips, Eyes on Missouri, All-Pro Realtors, Dick’s Sporting Goods, The St. Louis office of Capitol Realty Group is the leasing agent for the center.
LA VERNE, CALIF. – The La Verne Courtyard, an 84,796-square-foot shopping center, has sold to a private Beverly Hills investor for an undisclosed sum. The center is located at 2204-2278 Foothill Blvd. in La Verne. Notable tenants include Orchard Supply Hardware, Office Depot, Citi Financial, Pizza Hut, Rubio's Baja Grill, Quiznos and Magic Wok. Both the buyer and seller, a private San Clemente investor, were represented by Edward B. Hanley, William B. Asher and Kevin T. Fryman of Hanley Investment Group.
COSTA MESA, CALIF. – A 4,830-square-foot retail center in Costa Mesa has sold to a private San Clemente investor for $3 million. The center is located at 2800 Harbor Blvd., next to Orange Coast College. It is fully leased to Yoshinoya, AT&T and GoldMax. The buyer was represented by Dennis Vaccaro of Faris Lee Investments. The seller, a private Wyoming investor, was represented by Edward B. Hanley and Eric P. Wohl of Hanley Investment Group.
LIVONIA, MADISON HEIGHTS, FERNDALE AND BIRMINGHAM, MICH. — Pizza Hut has signed four leases for restaurant space in Southeast Michigan. Totaling 5,566 square feet, the leases are located at Wonderland Village in Livonia; a new development at 14 Mile and John roads in Madison Heights; Ferndale Avenue Shoppes in Ferndale; and a center on Woodward Avenue in Birmingham. Adam Goodman of Mid-America Real Estate-Michigan represented Pizza Hut in the transactions.
HOUSTON — Marcus & Millichap has brokered the sale of a 5,362-square-foot net-leased property in Houston occupied by Bikinis Sports Bar & Grill. The restaurant, located at 17117 Tomball Parkway, is in proximity to Willowbrook Mall. Jason Vitorino of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Jared Aubrey, also of Marcus & Millichap, secured and represented the buyer in the transaction, an institutional investor.
BOCA RATON, FLA. — Allen Edmonds, a U.S.-based manufacturer of premium men’s footwear and accessories, has signed a 10-year lease for retail space at The Shops at Boca Center, a 116,000-square-foot mixed-use lifestyle center in Boca Raton. The Shops at Boca Center, located at 5050 Town Center Circle, is fully leased to tenants including AT&T Wireless, Panera Bread, Starbucks Coffee, Morton’s, Brio Tuscan Grille, Total Wine & More and Verizon Wireless. Allen Edmonds has 47 stores in the United States. Lisa Ferrazza of CBRE represented the landlord in the lease transaction. Drew Schaul of Robert K. Futterman & Associates represented Allen Edmonds.
KANSAS CITY, MO. — Pine Tree Commercial Realty, in conjunction with Wanxiang America Corp. and Osprey Real Estate Capital, has acquired the Shoppes at Shoal Creek in Kansas City, Mo., for $17.6 million. The retail center is located along North Flintlock Road. Built in 2005, the 97,085-square-foot shopping center was 97 percent occupied at the time of sale. Best Buy and OfficeMax anchor the property, and a 15,600-square-foot La-Z-Boy is currently under construction and expected to open this summer. Associated Bank provided $12.75 million in acquisition and construction financing, which was arranged by Bill Barry of Draper & Kramer. Pine Tree Commercial Realty is based in Northbrook, Ill.
MT. VERNON AND EVERGREEN PARK, ILL. — Northbrook, Ill.-based Pine Tree Commercial Realty is in the process of redeveloping one retail center and constructing another in Illinois. In partnership with The Sansone Group and Wanxiang America Corp., the company is redeveloping the Times Square Mall at 42nd and Broadway streets in Mt. Vernon with a targeted completion date of late spring. The 281,000-square-foot mall is anchored by JC Penney, Hobby Lobby, Ross Dress for Less and Big Lots. Associated Bank provided $12.8 million in construction financing, which was arranged by Bill Barry of Draper & Kramer. In Evergreen Park, Pine Tree and Inland Real Estate Corp. have joined with lead developer Chicago-based IBT Group to develop Evergreen Promenade, a 92,512-square-foot shopping center. Located west of Western Avenue along 95th Street, the property will be anchored by Mariano’s Fresh Market and Petsmart. Construction is slated for completion late summer of this year. PNC Bank is providing construction financing for the project.
UNIONDALE, N.Y. — The Boulder Group has brokered the sale of a triple-net leased Walgreens property in Uniondale. Located at 603 Uniondale Ave., the 12,827-square-foot retail building sold for $12.4 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a New York-based development firm, in the transaction. The buyer was an undisclosed New York-based private partnership.
NEW YORK CITY — Wildenstein & Co. Inc. has completed the sale of its Horace Trumbauer-designed gallery space, which is located at 19 East 64th St. in New York City. The State of Qatar acquired the 20,000-square-foot property for an undisclosed price. The off-market transaction, which is slated to close in April, will allow The State of Qatar to open a permanent New York City consulate at the property. Oren Alexander and Tal Alexander of Douglas Elliman represented the buyer in the transaction.