VIRGINIA BEACH, VA. — Pembroke Mall in Virginia Beach recently secured six new retail tenants, which plan to open for business this year. Off Broadway Shoes has completed a lease for 20,670 square feet, and the company plans to consolidate two stores in the city into the new space. The company offers a selection of approximately 50,000 pairs of women's and men's designer shoes. Old Navy will occupy 15,740 square feet of newly built space in the “Signature Shops” redevelopment of the mall's former food court area. The clothing retailer is relocating its store from Norfolk's JANAF Shopping Center to Pembroke Mall. Additional deals include an 8,000-square-foot lease by Bahama Breeze, a 5,000-square-foot lease by The Coastal Edge, a 3,204-square-foot lease by The Children's Place and a 4,820-square-foot lease by Charlotte Russe. John Millar, Jay Burnell and Levi Thompson of Divaris Real Estate Inc. represented the landlord in each of the transactions.
PHILADELPHIA — Jones Lang LaSalle has closed the $32 million sale of Red Lion Plaza for Onyx Equities and Invesco Real Estate. A private buyer purchased the 229,204-square-foot retail shopping center, which is 95 percent occupied. Best Buy, Staples, American Signature and Planet Fitness anchor the property. The shopping center is located at the intersection of Roosevelt Boulevard and Red Lion Road in Northeast Philadelphia. Joseph Garibaldi, Jim Galbally, Dave Wojciechowski and Doug Rodio of Jones Lang LaSalle arranged the deal.
WOODLAND, CALIF. – Walmart has announced plans to open a new Walmart Neighborhood Market in Woodland. The smaller-format store will occupy a 62,000-square-foot building at 1250 E. Gibson Road about 15 miles northwest of Sacramento. The building was previously occupied by Mervyn’s at the County Fair Fashion Mall. The mall is owned by County Fair Fashion Mall, LLC and managed by Primero Management. Scott Sterlekar serves as the mall’s director of real estate and leasing.
SAN ANTONIO — Ignite Restaurant Group has reopened its San Antonio River Walk Joe's Crab Shack location following a three-month renovation. The restaurant, located at 212 College St., has nearly doubled its footprint to 7,600 square feet following the renovation. The restaurant has the capacity to seat 252 guests at one time. Ignite owns and operates 130 Joe's Crab Shacks and 15 Brick House Tavern + Taps.
WILSONVILLE, ORE. — Rite Aid has renewed its lease for 516,693 square feet at the Wilsonville Distribution Center. The center is located at 29555 SW Boones Ferry Road just south of Portland. The drugstore utilizes this facility as its Pacific Northwest regional distribution center.Rite Aid was represented by Tyler SheilsandTodd Hughesof Jones Lang LaSalle. The center is owned by GE Capital.
SUMTER, S.C. — Construction is under way on The Shops on Broad, a new 5,000-square-foot building on Broad Street in Sumter that will house an Aspen Dental and Starbucks. McMillan Padzan Smith is the project architect and DooleyMack Constructors will handle the construction. GrandSouth Bank provided the construction financing for the project. Carolina Holdings will own and manage The Shops on Broad, which will be located directly in front of Lowe's Home Improvement. The project is slated for completion in the third quarter of 2013.
DIAMOND, ILL. — The Boulder Group has arranged the sale of a net-leased Advance Auto Parts property, located at 1135 E. Division St. in Diamond, for $1.6 million. The 6,125-square-foot Advance Auto Parts was built in 2012 and is located 60 miles southwest of downtown Chicago. The building is situated along Highway 113 and is an outparcel to Berta Crossing, a recently constructed retail center featuring Dollar General and Ace Hardware. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, an Ohio-based investor, and the seller, a Midwest-based partnership.
SAUGUS, MASS. — Marcus & Millichap has arranged the sale of a CVS/Pharmacy property in Saugus for $9.6 million. The building, which is located at 1075 Broadway, spans 12,900 square feet. Laurie Drinkwater and Seth Richard of Marcus & Millichap represented the buyer in the transaction. Dean Zang and Mark Taylor of Marcus & Millichap represented the seller.
HOUSTON — Houston-based Gordon Partners has purchased the 190,000-square-foot Northwest Village Shopping Center, located at the corner of Highway 290 and Jones Road in Houston. The property is 87 percent leased to 35 tenants, including Spec's Wines, Liquor and Finer Foods, Harbor Freight Tools, Exclusive Furniture, T-Mobile and Subway. Gordon Partners plans to remodel the center and create junior anchor space opportunities. The shopping center is Gordon Partners' first Houston acquisition. The seller in the transaction was Baceline Value Fund I.
WILSONVILLE, ORE. — Rite Aid has renewed its lease for 516,693 square feet at the Wilsonville Distribution Center. The center is located at 29555 SW Boones Ferry Road just south of Portland. The drugstore utilizes this facility as its Pacific Northwest regional distribution center.Rite Aid was represented by Tyler Sheils and Todd Hughes of Jones Lang LaSalle. The center is owned by GE Capital.