NEW YORK CITY — The Feil Organization has completed a $2 million renovation at Kohl’s Plaza at 3575 Hempstead Turnpike in Levittown, a community located in Long Island. The renovation for the 28-year-old Nassau County shopping center includes a new brick façade, columns, signage and exterior lighting. The six-month construction project began in April and ended in November. Tenants at the shopping center include Kohl’s, Party City, PetSmart, Five Below, Famous Footwear, Dress Barn, GNC and GameStop. The Feil Organization acquired the Kohl’s Plaza/Nassau Mall retail site in 1984. Both centers are 97 percent leased.
LA CAÑADA FLINTRIDGE, CALIF. — Retail Opportunity Investments Corporation has purchased Plaza De La Cañada, a 100,408-square-foot neighborhood shopping center in the San Fernando Valley submarket of La Cañada Flintridge, for $35.9 million. The plaza is located at 651-663 Foothill Blvd. The center is anchored by Gelson’s Market, which recently replaced Vons as the property’s primary anchor. Other notable tenants include T.J. Maxx and Rite Aid. The seller, the Vons Companies Inc., was represented by Dixie Walker, Charley Simpson and Tom Blake of Cassidy Turley’s Irvine office.
LITTLE ELM, TEXAS — Marcus & Millichap has brokered the sale of a 14,820-square-foot net-leased retail property in the Dallas suburb of Little Elm. The building, currently occupied by Walgreens, is located at 2774 E. Eldorado Parkway, in close proximity to FM 423. The buyer, a limited liability company, purchased the property as part of a 1031 tax-deferred exchange and at a 5.8 percent cap rate, according to Marcus & Millichap. Geoff Ficke of Marcus & Millichap marketed the property on behalf of the seller, also a limited liability company, and procured the buyer as well.
JENKS, OKLA. — Wheeler Real Estate Investment Trust Inc. has purchased Jenks Plaza, a 7,800-square-foot retail property in the Tulsa suburb of Jenks for approximately $1.7 million, or $223 per leasable square foot. The strip shopping center was fully leased at the time of sale to five tenants, including Tint World, Papa Murphy’s Pizza, Envy Nails, La Mode Quality Cleaners and Maple Gardens. Reasor’s Foods shadow-anchors the asset, which has direct access to Creek Turnpike, a major thoroughfare with traffic counts of more than 32,600 vehicles per day. The Virginia Beach, Va.-based Wheeler purchased the property from one of its affiliated entities.
MIAMI — Berkowitz Development Group Inc. has secured refinancing of a $45 million loan on Kendallgate Shopping Center, a 194,624-square-foot shopping center in Miami. The asset is located at 11910 S.W. 88th St. and includes tenants such as DSW, Bed Bath & Beyond, Petco, Ulta Beauty, Chili’s, Macaroni Grill and Sports Authority. Berkowitz Development place the 10-year loan with a fixed interest rate through PNC Bank.
ORLANDO, FLA. — Colliers International has arranged the $10.2 million sale of Parkwood Plaza, a 148,232-square-foot, grocery-anchored shopping center in Orlando. The retail center is locate at 3191 W. Colonial Drive. The sale includes an additional 12.9 acres of undeveloped land zoned for commercial use. Winn Dixie anchors Parkwood Plaza, and Bank of America, McDonald’s, Valvoline and a KFC/Taco Bell are all outparcel retailers. Cynthia Shelton and Kane Morris-Webster represented the seller in the transaction. The buyer was Highyon Assets Corp.
MAPLE GROVE, MINN. — The Opus Group has secured two leases for office and retail space at its Arbor Lakes development and sold 2.7 acres in Maple Grove, a northwest suburb of Minneapolis. Pro Ag Management Inc. will occupy 9,179 square feet on the second floor of the Arbor Lakes Development. With the addition of Pro Ag Management Inc., the office space is now fully leased. Additionally, Sola Salon Studios signed a lease to occupy 4,524 square feet of ground-level retail space in the same building. Opus sold 1.3 acres located at 11301 Fountains Drive North in the Fountains at Arbor Lakes development to KF Dental Co. LLC. Freddy’s Frozen Custard & Steakburgers purchased 1.4 acres located at 11600 Fountains Drive North. Colliers International represented the tenants and Opus in the leasing transactions. Ben Krsnak of Hempel Cos. represented KF Dental LLC in the land sale transaction. Zach Stensland of Colliers International represented Freddy’s Frozen Custard & Steakburgers. Chris Simmons and Kris Schisel, also from Colliers International, represented Opus in the land sale transactions.
FENTON, MO. — Gander Mountain, an outdoor speciality retailer, plans to open its first store in Missouri in the spring of 2014. The Fenton store will be located in an existing 96,000-square-foot space at the Gravois Bluffs Shopping Center. Once the remodeling is complete, the site will include 65,000 square feet of retail space. Headquartered in St. Paul, Minn., Gander Mountain Co. has 131 locations in 24 states. In addition to the Fenton location, new stores are planned for Indiana, North Carolina, Texas, Alabama, Georgia and Florida in 2014.
SEABROOK, N.H. — DDR Corp. has signed several anchor tenants for Seabrook Commons, a 380,000-square-foot center the firm is developing in Seabrook. The power center will open in the summer of 2014 at 95 percent occupancy. Anchor tenants include Walmart, Dick's Sporting Goods, PetSmart, Michaels, ULTA Beauty, Five Below and Panera Bread. Seabrook Commons will represent DDR's second consecutive year of adding a prime power center to its portfolio through ground-up development. In May 2013, the company opened the 900,000-square-foot Belgate Shopping Center in Charlotte, N.C.
FORT WORTH, TEXAS — CBRE has brokered the sale of Eastchase Market, a 265,097-square-foot power retail center in Fort Worth. The property was 96.2 percent occupied at the time of the sale by national retailers such as Ross, Marshalls, Spec’s Office Depot, Dollar Tree, Burke’s Outlet and AMC Theatres. Located at 1600 Eastchase Parkway, the asset is in close proximity to Interstate 30. Chris Cozby, Chris Gerard and Kevin Holland of CBRE marketed the property on behalf of the seller. Phoenix-based Cole Real Estate Investments purchased the center.