HOUSTON — Dairy Ashford Village, a 43,751-square-foot retail center at 1570 S. Dairy Ashford Road in Houston, has been sold to a Houston-based private equity group. The center is 89 percent leased. Christopher Winters and John Parsley of Colliers International represented the seller, N.J.G. & M. Texas. Keller Williams represented the buyer, DAV Entrepreneurs. The property is located next to a Kroger-anchored shopping center on Briar Forest Drive.
Retail
HESPERIA, CALIF. – A 66,389-square-foot retail building in Hesperia that is occupied by Kmart has sold to a private California real estate investment company for $5.2 million. The building is located at 16968 Main Street within the Midtown Square Shopping Center. The center is also anchored by Stater Bros. and Orchard Supply Hardware. The buyer was represented by David Chasin at Pegasus Investments. The seller, The Burokas Family Trust, was represented by Brad Umansky and Frank Vora of Progressive Real Estate Partners.
MADERA, CALIF. – A 4,558-square-foot retail property in Madera that is net leased to IHOP has sold to an unnamed buyer for $2.4 million. The property is located at 2201 West Cleveland Ave. IHOP has occupied this space since it was originally constructed in 1995. Steve Sauter of Marcus & Millichap’s Palo Alto office represented the seller, a private investor.
LOS ALTOS, CALIF. -Jos. A. Bank has signed a 10-year lease for 4,087 square feet at the Colonnade mixed-use development in Los Altos. The space is located at 4750 El Camino Real in Silicon Valley. The new store will sit adjacent to Whole Foods and directly across from San Antonio Shopping Center. Colonnade is being developed by Sares Regis Group of Northern California and Pritzker Realty Group. Jos. A. Bank was represented by Laura Tinetti of SRS Real Estate Partners. Sares Regis was represented by Randol Mackley and Steve Gazzera of the same firm.
TERRELL, TEXAS — Whataburger has leased a 41,000-square-foot pad site at the Terrell Market Center. The site is located at the northeast corner of FM 148 and Crossroads Parkway in Terrell, 40 minutes east of Dallas. Opening is scheduled for summer 2015. W. Thurston Witt, Jr. of UCR Dallas represented Whataburger, and Andrew Lehner, also with UCR, represented the developer, Oakridge Investments.
DALLAS — The first Bonobos in Dallas has opened at 1901 N. Henderson Ave. The 1,240-square-foot store is the first in the Dallas area and second in the state of Texas. Michael Miller of United Commercial Realty represented Bonobos in the lease transaction. Matthew Heisley of Open Realty Advisors represented the landlord, Henderson Main LP. Bonobos is a New York City-based retailer of men’s clothing.
KILGORE, TEXAS — Stan Johnson Co. has arranged the sale of a 14,820-square-foot retail property in Kilgore leased to Walgreens to an institutional REIT based in New York for an undisclosed price. Todd Moore, Jim Gibson and Donny Joseph of Stan Johnson’s Houston office represented the seller, an unnamed investor based in Chicago, and the buyer in the transaction. The property is 100 percent leased to Walgreen Co. and is located at the intersection of Henderson Boulevard and Highway 259. Nearby tenants include Walmart Supercenter, Brookshire’s, Fred’s Store, Bealls and Hibbett Sports.
KATY, TEXAS — Mark One Capital has arranged $2.9 million in financing for a 20,000-square-foot retail property in the Houston suburb of Katy. Farhan Kabani, a senior director in the firm’s Dallas office, arranged the loan. The name of the borrower was not disclosed. The loan is structured with a 10-year term and amortizes over 25 years with a fixed interest rate of 4.25 percent.
HOUSTON — Hunington Properties has sold the Plaza at Bellaire, a 74,315-square-foot shopping center in Houston. The seven-acre property, located at the northeast corner of Bellaire Boulevard and Renwick Drive, is fully leased and anchored by 99¢ Only and Advance Auto Parts. Todd A. Carlson of Hunington Properties represented the seller, a local private partnership, in the transaction. The buyer was a local investor.
ST. LOUIS — Hilliker Corp. has arranged the sale of a more than 20,000-square-foot retail property in St. Louis. The property, located at 11555 Gravois Road, formerly served as Johnny’s Market, a family owned and operated grocery store that closed its doors in 2012 after 68 years in business. K2 Commercial Group, a St. Louis-based real estate and retail developer, purchased the property for an undisclosed price. The new owner plans to redevelop the 2.5-acre property. Will Aschinger of Hilliker Corp. represented the seller, Jon-Del Investments LLC. K2 Commercial Group represented itself in the transaction.