TEXAS AND OKLAHOMA — Tilted Kilt Franchise Operating LLC and Kilt Management LLC, both based in Tempe, Ariz., will develop 15 new Tilted Kilt pubs in Texas and Oklahoma during the next five years, including five locations in the Dallas/Fort Worth Metroplex. New locations in nearby Frisco and Las Colinas are already operating. The development marks the brand’s entry into the Sooner State, though a specific location has yet to be announced. Kilt Management is acting as developer of the new properties and will also oversee operations and management.
Retail
SAN JOSE, CALIF. – The Italian restaurant Tomatina has signed a 3,265-square-foot lease at West Valley Shopping Center in San Jose. The restaurant concept was created in 1998 by celebrity chef Michael Chiarello, who was appeared on the Food Network. It was acquired by Syufy Enterprises in 2011. This will be Tomatina’s second South Bay location once it’s completed early next spring. Syufy plans to open up to 12 Bay Area locations in the next 18 months. The restaurant was represented by Nick Schmidter and Josh Amoroso of Lockehouse Retail Group. West Valley Shopping Center is anchored by Sprouts Farmers Market and BevMo.
ST. LOUIS — IKEA, an international home furnishings retailer, has submitted plans to the City of St. Louis for a store that would increase the Swedish retailer’s presence in the Midwest. Slated to open in 2015, the 380,000-square-foot proposed IKEA store would be built along the northern side of I-64 near the Vandeventer Avenue exit. The store would also feature approximately 1,250 parking spaces. Currently, the closest IKEA stores are located in Bolingbrook and Schaumburg, Ill. A Kansas City-area store is currently under construction and on track to open in fall 2014.
HARKER HEIGHTS, TEXAS — HFF has arranged the sale of and acquisition financing for Market Heights, a 412,645-square-foot retail power center in Harker Heights, a suburb of Killeen. The property, which was completed in 2007, is anchored by Ross Dress for Less, Dick’s Sporting Goods, Bed Bath & Beyond, Barnes & Noble, Cinemark, Old Navy, ULTA and Petco. Market Heights is shadow-anchored by Target. Located at 201 E. Central Expressway, the asset offers proximity to State Highway 190, as well as the nearby cities of Fort Hood and Temple. HFF both represented the seller, Direct Development, and secured the buyer, Cole Credit Property Trust IV. Kevin MacKenzie and Adam Herrin of HFF led the team that arranged the acquisition financing through Bank of America Merrill Lynch.
SAN JOSE, CALIF. – The Italian restaurant Tomatina has signed a 3,265-square-foot lease at West Valley Shopping Center in San Jose. The restaurant concept was created in 1998 by celebrity chef Michael Chiarello, who was appeared on the Food Network. It was acquired by Syufy Enterprises in 2011. This will be Tomatina’s second South Bay location once it’s completed early next spring. Syufy plans to open up to 12 Bay Area locations in the next 18 months. The restaurant was represented by Nick Schmidter and Josh Amoroso of Lockehouse Retail Group. West Valley Shopping Center is anchored by Sprouts Farmers Market and BevMo.
LAS VEGAS – Sansone Companies/Boulevard Ventures, LLC, has purchased Boulevard Mall, a 1.2-million-square-foot super regional mall in Las Vegas, for a reported $54.5 million. The mall is located at 3528 S. Maryland Parkway. It is anchored by Macy’s, Sears and JP Penney. Boulevard Mall opened in 1968. It is the oldest mall in Las Vegas. Local developer Roland Sansone purchased the mall from Rouse Properties after lenders took over its ownership via a deed in lieu of foreclosure. The transaction was executed by CBRE.
SOUTHLAKE, TEXAS — Real estate firm The Woodmont Company, in partnership with an undisclosed publicly traded REIT, has started development of Park Village, a 190,000-square-foot retail center in Southlake, a suburb approximately 25 miles northeast of Fort Worth. The property, which offers spaces ranging from 800 to 12,000 square feet, is more than 50 percent pre-leased. Sporting goods store REI and a specialty grocer will anchor the center, which will be located at the southwest corner of Carroll Avenue and Southlake Boulevard. Stephen Coslik, Peter Jacobsen and Rick Machak of The Woodmont Company are overseeing development, and Herschman Architects designed the project. Completion is slated for the fall of 2014.
LAS VEGAS – Sansone Companies/Boulevard Ventures, LLC, has purchased Boulevard Mall, a 1.2-million-square-foot super regional mall in Las Vegas, for a reported $54.5 million. The mall is located at 3528 S. Maryland Parkway. It is anchored by Macy’s, Sears and JP Penney. Boulevard Mall opened in 1968. It is the oldest mall in Las Vegas. Local developer Roland Sansone purchased the mall from Rouse Properties after lenders took over its ownership via a deed in lieu of foreclosure. The transaction was executed by CBRE.
RAINBOW CITY, ALA. — Paradise Ventures, a developer based in Safety Harbor, Fla., plans to build a new Publix-anchored shopping center in Rainbow City, about 60 miles outside of Birmingham, Ala. The Shoppes at Rainbow Landing will be located at the intersection of Rainbow Drive and Alabama Highway 77. The shopping center will feature a 45,600-square-foot Publix and 20,000 square feet of retail space and two outparcels. Paradise Ventures plan to open the center in the fourth quarter of 2014. Andrew Loveman of Birmingham-based Southpace Properties Inc. is handling the property’s leasing responsibilities.
WESTON, FLA. — HFF has arranged the sale of Weston Shops, a 30,420-square-foot neighborhood center in Weston, located in Broward County. The property, located at 4473-4477 Weston Road, is fully leased to tenants including Walgreens and Mayors Jewelers. Danny Finkle, Luis Castillo and Coler Yoakam of HFF represented the seller, an affiliate of Spirit Realty Capital Inc., in the transaction. The buyer, Savitar Properties Inc., purchased the asset free and clear of existing debt.