ANN ARBOR, MICH. — Knight’s Steakhouse has signed a 5,200-square-foot retail lease at the former Borders flagship store in Ann Arbor. Knights will occupy the corner space in the multi-use redevelopment project located on the central campus of the University of Michigan. The property, which is located at 600 E. Liberty St., will be Knight’s third restaurant in Michigan. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the landlord, Hughes Properties, and the tenant in the transaction.
ONEONTA, N.Y. — Marcus & Millichap has arranged the $6.9 million sale of a 12,000-square-foot Walgreens located at 99 Chestnut St. in Oneonta, about 50 miles south of Utica. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, the project developer. The Walgreens triple-net lease has 21 years remaining on the primary term and two rare five-year options followed by 40 one- year options. The site is located across from Hartwick College and is near the State University of New York College at Oneonta. The colleges have a combined enrollment of more than 7,300 students. Surrounding retailers include BJ’s Wholesale Club, Walmart Supercenter, The Home Depot, Advance Auto Parts and Lowe’s. The Marcus & Millichap Ft. Lauderdale office represented the buyer.
LITTLETON, COLO. – A 4,820-square-foot retail and industrial building in Littleton has sold to an unnamed buyer for $1.2 million. The three-tenant, triple-net-leased property is located at 231-251 West County Line Road. The building is anchored by an Allstate drive-thru claims center. The seller, Advanced Property Services, was represented by Sam Leger and Tim Finholm of Unique Properties, LLC – TCN Worldwide.
DALLAS — The CBRE retail brokerage and project management team in Dallas has arranged the expansion of Seattle's Best Coffee to 10 locations throughout the Dallas/Fort Worth Metroplex. Daniel Taylor, Chris Sacks and Andrew Wiley provided market evaluation, mapping and demographic analysis, site selection and lease negotiations for the coffee retailer. Sean Goff and April Desabrais of CBRE's project management team established a cost efficient approach to construction. The 10 sites are located in Dallas, Fort Worth, Burleson, Lancaster, McKinney and Rockwall.
ARLINGTON, TEXAS — Pie Five Pizza Co. has opened its 10th corporate-owned location in the Dallas/Fort Worth area and its 11th store overall. The new Pie Five restaurant will located at 2151 N. Collins St., Suite 105 in Arlington. The restaurant is nearly 2,000 square feet and can accommodate approximately 70 patrons. Pie Five has awarded agreements for another 37 restaurants to-date in Utah, Charlotte, North Carolina, Florida and Kansas City.
TULSA, OKLA. — Marcus & Millichap has arranged the sale of a 7,164-square-foot Macaroni Grill restaurant in Tulsa. The restaurant is located at 6603 S. Memorial Drive. Jason Vitorino and Jared Aubrey of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction. Vitorino and Aubrey procured the buyer, also a limited liability company. Tim Speck of Marcus & Millichap's Dallas office assisted in closing the transaction.
TUALATIN, ORE. — Timberland Town Center, a 90,000-square-foot center, is set to break ground soon in Tualatin. The $30-million development will be located at N.W. 118thAve. It is scheduled to open in fall 2014. Oregon-based grocer Market of Choice will anchor the center. The new development is part of the Timberland Master Plan, which will eventually include additional housing, a middle school and a community garden. The center is being developed by Gramor Development and designed by LRS Architects. Leasing will be handled by New & Neville Real Estate Services.
HONOLULU — Bloomingdale's has announced its plans to enter the Hawaiian market. It will open a 167,000-square-foot, three-level store at the Ala Moana Center in Honolulu in fall 2015. The new store will be located in a portion of Ala Moana that is set to undergo a significant redevelopment, which will commence in 2014. Macy’s, Bloomingdale's parent company, already has an outpost at the center. Ala Moana is owned by General Growth Properties.
TIFTON, GA. — Jones Lang LaSalle (JLL) has brokered the sale of Tifton Corners, a 186,629-square-foot shopping center located at 21 Virginia Ave. South in Tifton. Tenants of the center include Big Lots, Save A Lot, Tractor Supply Co., Dollar Tree, Citi Trends and Hibbett Sports. Occupancy was 84 percent at the time of closing. JLL’s Margaret Caldwell and Kris Cooper represented the seller, Atlanta-based RCG Ventures. The buyer was a Georgia-based limited liability company. The acquisition price was not released.
DARIEN AND CHICAGO HEIGHTS, ILL. — Syndicated Equities Investment Sales Group has arranged the sale of two Walgreens-leased buildings in Darien and Chicago Heights for a combined total of $9.1 million. Each building spans 15,120 square feet and is leased to Walgreens on a long-term basis. The building in Darien sold for $4.9 million and the Chicago Heights property sold for $4.2 million. Isaac Metzger and Jason Schwartz of Syndicated Equities represented the sellers, separate ownership groups, in each transaction.