NILES, OHIO — A Cleveland-based investor has purchased a 4,500-square-foot retail building in Niles, located about 50 miles east of Akron, for $1.3 million. Vitamin Shoppe Inc. is the sole tenant of the building located within Cafaro’s Eastwood Mall complex at 5704 Youngstown Warren Road. Vitamin Shoppe has a long-term lease in place through 2022 and is corporately guaranteed. Dan Cooper of Cooper Commercial Investment Group represented the buyer in the transaction.
LANSDALE, PA. — A Philadelphia-area developer and property owner has sold Allen Forge Shopping Center, a 51,878-square-foot shopping center in Lansdale, for $9.3 million, or $187 per square foot. The center is located at 850 S. Valley Forge Road, approximately 28 miles northwest of Philadelphia. Tenants at the shopping center include a 13,000-square-foot CVS/pharmacy drugstore with a drive-thru, a 9,000-square-foot wine and spirits retail outlet and a Bank of America branch. Matthew Gorman and Michael Shover of Marcus & Millichap represented the seller in the transaction. Gorman and Shover also represented the buyer, a Lehigh Valley-based 1031 tax-deferred exchange investor.
NEW YORK CITY — Elizabeth Arden Inc. has signed a 10,000-square-foot lease at 200 Park Ave. in Union Square for its Red Door Spa. It will be the third spa in Manhattan for the beauty company, which has its corporate headquarters on the seventh floor of the same New York City Park Avenue building. The retail store and spa will occupy two levels, including 2,500 square feet on the ground floor and 7,500 square feet on the lower level. The property will also include an elevator visible from the street. Gregg Schenker, Mark Tergesen and John Gols of ABS Partners Real Estate LLC and Gary Trock of CBRE represented the landlord, 200 Park South Associates LLC, in the transaction. Joseph Cabrera, Edward Weiss, Michael Gordon and Robert Gibson of Cushman & Wakefield represented Elizabeth Arden.
HOUSTON – Hunington Properties has arranged the sale of Cinco Ranch Village, a 20,000-square-foot retail center situated in the master-planned Cinco Ranch community, which is located in the extraterritorial jurisdiction of Houston. The center is fully leased to Subway, Farmer's Insurance, and Planet Beach Tanning. Sandy Aron and Todd Carlson of Hunington Properties represented the seller, an out-of-state trust, in the transaction. The buyer was a Florida-based private client. The buyer will retain Hunington as the property's management and leasing agent.
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WHEATON, ILL. —Hand & Stone Massage & Facial Spa has signed a 2,700-square-foot lease in Wheaton, located about 25 miles west of Chicago. The spa is set to open mid-summer at its new location in the Danada Square West shopping center, located on the Northwest corner of Butterfield and Naperville roads. United Commercial Realty represented the landlord in the transaction. Allen Joffe of Baum Realty Group represented the tenant.
CORPUS CHRISTI, TEXAS — T.J. Maxx and HomeGoods will open a 44,750-square-foot store this fall at The Shops at La Palmera, a 200,000-square-foot outdoor shopping center in Corpus Christi. The new stores will feature separate entrances but shoppers will be able to move freely between the two stores once inside. Fort Worth-based Trademark Property Co. is developing The Shops at La Palmera. The TJX Cos. Inc. owns both T.J. Maxx and HomeGoods.
ARLINGTON, TEXAS — Marcus & Millichap has secured the sale of the 17,674-square-foot Cross Creek Shopping Center, located at 2001 S.E. Green Oaks Blvd. in Arlington. The center is 93 percent occupied with medical and retail tenants. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction. An outside broker represented the buyer, a Texas-based investment partnership.
DENTON, TEXAS — Buckle, a fashion retailer, has signed a 5,040-square-foot lease at the 765,000-square-foot Golden Triangle Mall in Denton. The new store is slated to open in the fall. Paul Burridge of Webcor and Blake Shipp with The Weitzman Group represented Buckle in the deal. Other new tenants at Golden Triangle Mall include Italia Express, Tobu Oriental Eatery and Smoothie Paradise. Several tenants have renewed their leases at Golden Triangle Mall, including American Eagle Outfitters, The Limited, Hallmark, Regis Salons, Zales Jewelers and MasterCuts. Additionally, several stores are under construction, including The Limited, J.C. Penney and Hibbett Sporting Goods. Payless ShoeSource recently completed its renovations. The mall is currently undergoing a total renovation as part of a joint venture between The MGHerring Group and Cencor Realty Services. Renovations are slated to wrap up in the summer.
MESQUITE, TEXAS — Dallas-based Quadrant Realty Finance (QRF) has arranged financing for Thomasson Center, a 34,294-square-foot neighborhood retail center in Mesquite. The center is leased to a mix of retail, medical and office tenants. Jason Piering and Randy Fleisher of QRF arranged the 10-year, non-recourse loan through a CMBS lender. The borrower used the loan proceeds to acquire Thomasson Center.