LAS VEGAS – Ikea has submitted plans to open its first Las Vegas location in the Spring Valley submarket. The 351,000-square-foot outpost would be situated on 26 acres along the northern side of Interstate-215 at Durango Drive, near Sunset Road. The new store would feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area, and a 450-seat restaurant serving Swedish specialties like meatballs with lingonberries and salmon plates, as well as American dishes. The Swedish home furnishings retailer hopes to open the new store in summer 2016. The next closest Ikea locations for Las Vegas include Covina, Calif., Tempe, Ariz.; or Draper, Utah.
Retail
NEWNAN, GA. — Colliers International has arranged the $10.2 million sale of Merchant’s Crossing, a 174,059-square-foot shopping center located at 50 Bullsboro Drive in Newnan, about 39 miles southwest of Atlanta. Slate Properties Inc. purchased the Kroger-anchored shopping center from Brixmor, a REIT that owns more than 500 grocery-anchored shopping centers in the United States. Joseph Montgomery III and Tony D’Ambrosio of Colliers International represented the seller in the transaction.
BIRMINGHAM, MICH. — Mid-America Real Estate Corp.’s investment sales team, in cooperation with NAI Farbman, brokered the sale of The Willits Retail, a 25,396-square-foot retail center in Birmingham, an affluent suburb of Detroit. Southfield, Mich.-based Seligman Group purchased the property for an undisclosed sales price. The center includes two premier dining restaurants — Mitchell’s Fish Market and Cameron’s Steakhouse, a TD Ameritrade and Darakjian Jewelers. Ben Wineman of Mid-America Real Estate Corp. and Bill Bubniak of NAI Farbman represented the seller, New York-based The Related Cos., in the transaction.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Iron Gate Self Storage, a 44,100-square-foot self storage facility in San Antonio. Brandon Karr, senior associate in Marcus & Millichap’s Fort Worth office, marketed the property on behalf of the seller, an unnamed partnership. The buyer, an unnamed private investor, was also secured by Karr. Iron Gate Self Storage is located at 2410 Southwest Loop 410 in San Antonio. It was built in 1965 and consists of 372 non-climate-controlled units. The property includes an on-site manager’s residence, video surveillance, personalized keypad gated entry, roll-up doors, perimeter fencing, concrete foundations and asphalt driveways.
TUCSON, ARIZ. – A 10,040-square-foot retail property in Tucson that is occupied by Pet Club | R&S Mattress has sold to an individual/personal trust for $2.3 million. The center is located at 3996 West Ina Road. Jamie Medress and Mark Ruble of Marcus & Millichap’s Phoenix office represented both the buyer and the seller, a limited liability company, in this transaction.
HIXSON, TENN. — Carolina Holdings Inc., a Greenville, South Carolina-based retail developer, has delivered and opened a new Verizon Wireless store in Hixson, about nine miles northeast of Chattanooga. Carolina Holdings and Verizon are jointly pursuing LEED certification for the new 4,585-square-foot property. The project team includes architect McMillan Pazdan Smith, civil engineer LeCraw Engineering and general contractor Dooley Mack Constructors. Certus Bank provided construction financing for the project.
SHOREWOOD, ILL. — Grocery store operator Roundy’s Inc. will open a Mariano’s upscale supermarket in Shorewood, approximately 43 miles southwest of Chicago. A grand opening for the new store, located at 950 Brook Forest Ave., is set for Tuesday, July 15. The Shorewood location is the 10th Mariano’s to open of the 11 former Dominick’s locations acquired by Roundy’s in December 2013. The newest Mariano’s location will add 450 new jobs to the community. Across its 26 locations, Mariano’s has created approximately 10,750 jobs in the last four years. The Shorewood store will provide fresh-squeezed fruit and vegetable juices, house-made Italian sausage and signature Bella cupcakes. The supermarket will also include wines from all regions, a specialty cheese shop as well as a bakery. Mariano’s Shorewood will also offer Vero authentic Italian coffee and gelato shop featuring premium coffees fresh-roasted locally and homemade gelato; a floral department; an International aisle highlighting global cuisine; a dietitian; and a full-service pharmacy.
WELLS, MAINE — Boston-based Fantini & Gorga has arranged $2.3 million in first mortgage acquisition financing for Wells Corner Shopping Center, located at 1517 Post Road in Wells. Developed in the 35,400-square-foot center is occupied by Wells IGA Food Market, Dairy Queen, a laundry mat and a family-style restaurant. Casimir Groblewski and Jason Cunnane of Fantini & Gorga arranged the fixed-rate, five-year loan, which was provided by a Massachusetts-based lending institution, on behalf of Wells Corner Shopping Center LLC, a Maine-based limited liability company.
HEBRON, TEXAS — Marcus & Millichap arranged the sale of Hebron Plaza, a 14,176-square-foot retail center in Hebron. Philip Levy, vice president of investments in Marcus & Millichap’s Fort Worth office, marketed the property on behalf of the seller, a limited liability company. Hebron Plaza is located at 2425 West Parker Road. The multi-tenant retail center is 92 percent occupied. Tenants include Classy Nails Spa, Crosspointe Church and True Spirits Liquor. The building was constructed in 2008 and sits on nearly 1.6 acres.
CHARLOTTE, N.C. — Bojangles’ Restaurants Inc. has opened its 600th restaurant, located on Galleria Boulevard off Monroe Road in Charlotte. The Charlotte-based chicken chain expects to open 55 to 60 locations throughout the Southeast this year, adding new restaurants in more than 25 market areas including Atlanta; Birmingham, Alabama; Orlando; Richmond, Virginia; and Nashville, Knoxville and Tri-Cities, Tennessee. This year’s expansion is part of Bojangles’ long-term growth plan to have 1,000 locations open by 2020.