CARROLLTON, TEXAS — CBRE’s Private Capital Group in Dallas arranged the sale of Hebron Heights Shopping Center in Carrollton. The 59,356-square-foot neighborhood shopping center is located in northwest Dallas at the corner of Hebron Parkway and Old Denton Road. Hebron Heights Shopping Center is 87 percent occupied with a tenant roster including Tuesday Morning, Dunkin’ Donuts/Baskin Robins, Just Fitness 4U and Quiznos Subs. The buyer, an affiliate of the Tabani Group, purchased the center for an undisclosed amount. Jennifer Pierson and Beth Pierson of CBRE’s Dallas office represented the seller.
FRISCO, TEXAS — Chick-fil-A Inc. has purchased a 1.3-acre retail site at the Hickory Center at Preston, a Walmart-anchored shopping center located at the southwest corner of Preston Road and Gary Burns Drive in Frisco. Ken Reimer, Amy Pjetrovic-Hunnicut and Katie Vance of Venture Commercial represented the seller, Allegiance Frisco LP, in the transaction. David Hardesty of Hardesty Realty Group represented Chick-fil-A.
HOLLYWOOD, FLA. — Florida developer Stiles has commenced construction for West Lake Commons, a $35 million retail project located at 1700 Sheridan Street in Hollywood. The project will be built on the site of the former Hollywood Lincoln Mercury dealership at the corner of Sheridan Street and South Federal Highway. Stiles will construct an 80,000-square-foot center to be anchored by Publix. Additional tenants already announced include Pollo Tropical and Starbucks. The project will also include up to 20,000 square feet of outparcel space. Completion is expected in the second quarter of 2014.
ROSEVILLE, MICH. — Lormax Stern Development Co. has purchase Macomb Mall, located at 32233 Gratiot Ave. in Roseville. Constructed in 1964, the 921,000-square-foot Macomb Mall is located near I-94. The new owners plan to renovate the single-story building, which include both interior and exterior upgrades. The sale price of the property was undisclosed. Macomb Mall features more than 85 specialty stores, including Aeropostale, American Eagle Outfitters, Bath & Body Works, Charlotte Russe, Helzberg Diamonds, and resturants such as National Coney Island and Olga’s Kitchen.
TEXAS — Gander Mountain, an outdoor equipment retailer based in St. Paul, Minn., has plans to open four new stores in Texas this fall. The four stores will be located in Lewisville, Mesquite, Round Rock and San Antonio. The Lewisville store will be located at 723 Hebron Parkway in the Lakepointe Towne Crossing Shopping Center and will span 45,000 square feet. The Mesquite store will be home to the first Gander Mountain Firearms Super Center in Texas. The 31,000-square-foot store will be located at 3775 Childress Ave. The Round Rock store will span 49,000 square feet and be located in the Round Rock Shopping Center at 3021 S. Interstate 35. The San Antonio store will also span 49,000 square feet and be located in the Westover Marketplace Shopping Center at 8203 State Highway 151. The retailer expects to create approximately 350 jobs with the new stores.
COLLEGE STATION, TEXAS — CBRE'S National Retail Investment Group has arranged the sale of Bryan Towne Center, a 52,268-square-foot retail center in College Station. New Jersey-based Lamar Cos. purchased the property, which is 66 percent leased to retailers such as Dollar Tree, Rack Room Shoes, Maurice's and rue21. The center is also shadow-anchored by Target. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller, a subsidiary of BMO Harris Bank N.A., in the transaction.
VISALIA, CALIF. – Trion Properties, a Los Angeles-based real estate investment company, has sold a 57,254-square-foot shopping center located at 3230-3298 S. Mooney Blvd. in Visalia to a family trust for $4 million, or roughly $70 per square foot.Trion Properties acquired a nonperforming note on the asset in 2012 in an all-cash transaction from a regional bank, which had to remove it from their books by year-end. Nick Whitstone at CBRE handled the note transaction. The property reverted to Trion in a foreclosure sale on February 4, and Trion immediately listed the property for sale with Mark Denholm from CORE Commercial, who represented Trion in the disposition. The property, which was built in 1977, was approximately 60 percent leased at the time of the sale with a tenant roster that includes King Buffet and Tuesday Morning.
TORRANCE, CALIF. – A 28,500-square-foot land parcel in Torrance has sold to Beverly Hills Ferrari Maserati for $2.3 million. The parcel is located at 23305 Hawthorne Blvd. It is slated for a 20,000-square-foot Ferrari Maserati dealership. Beverly Hills Ferrari Maserati was represented by Sheri Messerlianof NAI Capital’s South Bay office. The seller was Vivial Markham Trust.
MOBILE, ALA. — Lakestar Properties has acquired a Mobile power center from a joint venture led by Kimco Realty Corp. Mobile Festival Centre is a 380,19-square-foot retail property located near Interstate 65 at 3725 Airport Blvd. Its tenant roster includes Academy Sports + Outdoors, Bed Bath & Beyond, h.h. gregg, Jo-Ann Fabric & Craft Store, Ross Dress for Less, and Virginia College. The Home Depot shadow anchors it. Richard Reid and Jim Hamilton of Holliday Fenoglio Fowler represented the seller. The purchase price was not released.
FAYETTEVILLE, N.C. — Berkeley Capital Advisors has brokered the sale of a 5,250-square-foot retail property in Fayetteville that is net-leased to USAA. The property traded for $2.4 million. Berkeley’s Steve Horvath and Jay Levell represented the seller, a South Carolina-based developer. The buyer was a private REIT.