THE WOODLANDS, TEXAS — The Howard Hughes Corporation (NYSE: HHC) has signed Front Burner Restaurants to an 8,000-square-foot lease for a new location of Whiskey Cake Kitchen & Bar at Hughes Landing in The Woodlands. This first Houston location of the “farm-to-fork, garden-to-glass” eatery is scheduled to open in early 2015 and is the second restaurant to sign a lease at Hughes Landing, a 66-acre mixed-use development of HHC subsidiary The Woodlands Development Company. Jack Breard and Michael Miller of United Commercial Realty represented Front Burner in the negotiations, while Rip Reynolds of HHC represented Woodlands Development.
SAN FRANCISCO – Jamestown has purchased the famous Ghirardelli Square, a 100,394-square-foot lifestyle and entertainment-oriented retail complex in San Francisco. It sold for a reported $56 million. The 12-building complex is located at 900 North Point Street in Fisherman’s Wharf. The retail portion was 55 percent leased at the time of sale. Tenants include the Ghirardelli Square Chocolate Company’s U.S. flagship location, as well as Vom Fass, Jackson & Polk, Gigi & Rose, Wattle Creek Winery, Kara’s Cupcakes and McCormick & Schmick’s. Jamestown plans to execute a multi-million dollar renovation program over the next two years to stabilize the asset and attract new retail concepts and amenities. Ghirardelli’s original structures were built over a span of 100 years, which began in 1864. The complex underwent a retrofitting and significant updates between 1966 and 2009. The seller,a major financial institution,was represented by HFF’s Nicholas Bicardo and Mark Damiani.
ORLAND PARK, ILL. — Marcus & Millichap has arranged the $1.8 million sale of Fountain Square Village, a 12,085-square-foot retail property located in Orland Park, a southern suburb of Chicago. Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a private investor. Ryan Engle, a multifamily specialist at Marcus & Millichap, represented the buyer, an individual/personal trust. Fountain Square Village is located at 11013-11045 179th St.
CHICAGO — Exit Plan Holdings LLC has purchased a 7,000-square-foot retail building located at 5025 N. Clark St. in the Andersonville neighborhood of Chicago from a private seller. The new owners, who own Crew Bar & Grill and The SoFo Tap, plan to renovate the building to include a new façade and replace the rear of the structure. A Mexican restaurant will move into the remodeled space next year. Most recently, the property was occupied by T’s Bar and Restaurant, which closed in March. Rebecca Lundstrom, senior consultant for @properties Commercial, represented the buyer in the transaction.
SAN FRANCISCO – Jamestown has purchased the famous Ghirardelli Square, a 100,394-square-foot lifestyle and entertainment-oriented retail complex in San Francisco. It sold for a reported $56 million. The 12-building complex is located at 900 North Point Street in Fisherman’s Wharf. The retail portion was 55 percent leased at the time of sale. Tenants include the Ghirardelli Square Chocolate Company’s U.S. flagship location, as well as Vom Fass, Jackson & Polk, Gigi & Rose, Wattle Creek Winery, Kara’s Cupcakes and McCormick & Schmick’s. Jamestown plans to execute a multi-million dollar renovation program over the next two years to stabilize the asset and attract new retail concepts and amenities. Ghirardelli’s original structures were built over a span of 100 years, which began in 1864. The complex underwent a retrofitting and significant updates between 1966 and 2009. The seller,a major financial institution,was represented by HFF’s Nicholas Bicardo and Mark Damiani.
TEMPE, ARIZ. — Crossroads of Tempe, a 39,511-square-foot retail strip center in Tempe, has sold to KLC Holdings LLC for $5.5 million. The center is located at 7707 S. Kyrene Road, 315 and 325 W. Elliot Road. It was 65 percent leased at the time of sale. Notable tenants include Chase Bank, Massage Envy, Fed Ex Office and the UPS Store. The center is currently unanchored. The seller, Westwood Financial Corp., was represented by Steve Julius and Jesse Goldsmith of CBRE’s Phoenix office.
JACKSON, MISS. — Colliers International Atlanta has secured a $55 million construction loan for the Outlets of Mississippi, a 300,000-square-foot outlet shopping center under development in Jackson. The loan represents 70 percent of the overall development cost. The property is located five miles east of downtown Jackson and includes 80 designer and name-brand tenants, including Nike, Saks OFF Fifth, Coach, Michael Kors, American Eagle Outfitters, Banana Republic, Gap, Adidas, Lane Bryant, Aeropostale, Osh Kosh, Clark's Bostonian, Reebok, Nine West, Claire's, Hot Topic and Cole Haan. Forrest Speed led the Colliers Atlanta capital markets team in the transaction. Speed arranged the loan through a regional bank on behalf of the borrower, Bloomfield Investments LLC, the operating subsidiary of the developer, Spectrum Capital LLC. Colliers will also represent the developer in securing the future permanent mortgage.
MONTGOMERYVILLE, PA. — NorthMarq Capital has arranged $24.2 million in refinancing for Water Tower Square, a 262,788-square-foot retail center Montgomeryville, a northern suburb of Philadelphia. Home Depot, OfficeMax and Planet Fitness anchor the property. A CMBS lender provided the 10-year loan, which includes a 30-year amortization schedule. Philip Deeter, senior vice president and managing director of NorthMarq’s Philadelphia regional office, arranged the financing.
TEMPE, ARIZ. — Crossroads of Tempe, a 39,511-square-foot retail strip center in Tempe, has sold to KLC Holdings LLC for $5.5 million. The center is located at 7707 S. Kyrene Road, 315 and 325 W. Elliot Road. It was 65 percent leased at the time of sale. Notable tenants include Chase Bank, Massage Envy, Fed Ex Office and the UPS Store. The center is currently unanchored. The seller, Westwood Financial Corp., was represented by Steve Julius and Jesse Goldsmith of CBRE’s Phoenix office.
INDIANAPOLIS AND KALAMAZOO, MICH. — Bernard Financial Group has arranged a $1.3 million loan for Indy-C-Kal Inc. for two retail buildings in Indianapolis and one retail building in Kalamazoo.David Dismondy of Bernard Financial Group originated the loan. StanCorp Mortgage Investors LLC was the lender.