WALDORF, MD. — A new Silver Diner is set to open a new location at The Shops at Waldorf in Waldorf. The new 6,500-square-foot restaurant is slated to open in spring 2014. Silver Diner operates 15 locations in the Washington, D.C., metropolitan region, with the new Waldorf location being the only Silver Diner restaurant in southern Maryland. Madison Marquette manages The Shops at Waldorf, a 495,162-square-foot neighborhood center.
Retail
HOUSTON — Baker Katz has arranged a 2,633-square-foot lease for the first Houston location of fast casual pasta restaurant Noodles & Co. The new eatery will join sporting goods retailer Tyler’s and Bonefish Grill in what was formerly the Sears Automotive Building at 1555 Lake Woodlands Drive. Jason Baker of Baker Katz represented the tenant in the negotiations, while Kirk Dodson of General Growth Properties represented the landlord. Noodles & Co. now has eight locations in Texas and plans to continue expansion in the Houston market through the end of 2015.
PALATINE, ILL. — Sperry Van Ness Chicago Commercial has arranged the sale of a 1.5-acre site including a 4,363-square-foot retail building in suburban Chicago for $1.4 million. The freestanding retail building, which was previously occupied by Applebee’s, is located at 741 E. Dundee Road in Palatine. The parcel has been sold to a local developer who plans to redevelop the parcel into a new 10,000-square-foot, multi-tenant retail center. Craig Franzen and Ben Andrews of Sperry Van Ness represented the buyer and seller in the transaction.
OAKBROOK TERRACE, ILL. — NAI Hiffman has represented the ownership in three separate retail transactions in the Chicago suburbs. Jewel Food Stores Inc. signed a new 10-year lease with F&J Tan LLC, a dental group, at the Jewel-anchored center at 7339 S. Cass Ave. in Darien. F&J Tan plans to open in early 2014. At the Jewel-anchored Woodstock Center at 113 S. Eastwood Drive in Woodstock, 111 Eastwood LLC signed physical therapy provider, Athletico, to a five-year lease for 2,625 square feet. Athletico plans to open this location by the end of the year. At City Park, located at 250 Parkway Drive in Lincolnshire, ECD-Lincolnshire Retail LLC signed Roosters Men’s Grooming Center to a five-year lease for 1,300 square feet. The men’s hair salon will open for business in early 2014. Jennifer Hopkins, Michael Meksto and Jim Tsevis of NAI Hiffman’s retail services group represented Jewel Food Stores in its lease with F&J Tan. Hopkins also represented 111 Eastwood LLC and ECD-Lincolnshire Retail LLC. Joseph Rossi of Joseph Rossi & Associates represented F&J Tan; Peter Scannell of Mid-America represented Athletico; and Jack Siragusa of Cushman & Wakefield represented Roosters Men’s Grooming Center.
WATERBURY, CONN. — Cole Real Estate Investments has acquired Naugatuck Valley Shopping Center, a 382,864-square-foot property in Waterbury, for $41 million. The center is situated on 50.5 acres approximately two miles north of Interstate 84. Stop & Shop and Walmart anchor the property. Jim Koury and Coleman Benedict with HFF's Boston retail team represented the seller and also identified the buyer in the transaction.
CHATHAM, N.Y. — Axiom Capital has arranged $8.3 million in construction financing for a stand-alone grocery store development in Chatham, located about 25 miles south of Albany. The non-recourse, 10-year loan includes an initial 12-month interest only construction period, which will convert to a 30-year amortization schedule after. The loan also features a five-year extension option. The 45,000-square-foot grocery store will be built on a seven-acre site. The property is slated for a mid-July 2014 completion date and will be fully leased to Price Chopper.
ROWLETT, TEXAS — Marcus & Millichap has brokered the sale of Rowlett Plaza, a 19,295-square-foot retail center in the northeast Dallas suburb of Rowlett. At the time of the sale, the property was 77 percent occupied by a variety of tenants including Papa Murphy’s, Rowlett Dance Academy and River Nails and Spa. All leases are triple-net. Located at 5000 Rowlett Road, the building was originally constructed in 1985 and last renovated in 2000. Chris Gainey and Philip Levy of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company.
DENVER — Gart Investment Company has acquired Willow Run Shopping Center, a 91,565-square-foot retail outpost in the Denver suburb of Westminster, for $10.8 million. The center is located at 12900-12910 N. Zuni Street. It was 80 percent leased at the time of sale. Notable tenants include Safeway, Allstate and Subway. Outlying tenants that were not part of the sale include JPMorgan Chase, Conoco Philips and McDonalds. Gart was represented by Shaun Riley of Faris Lee Investments. The seller, TNP SRT Willow Run, LLC, was represented by Richard Chichester, Jeff Conover and Tom Chichester of the same firm.
MARIETTA, GA. — Jones Lang LaSalle has arranged the sale of Powers Ferry Plaza, an 86,401-square-foot shopping center located on Powers Ferry Road in Marietta, a suburb immediately north of Atlanta. The shopping center is anchored by Micro Center, a computer and technology retailer. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle represented the seller, Equity One, in the transaction. An Atlanta-based investor purchased the center.
EVANSTON, ILL. — Sporting two wind turbines, nearly 850 solar panels and a geothermal system burrowed 550 feet into the ground, Walgreens has opened what it believes is the nation’s first net-zero energy retail store in metro Chicago. The store is expected to produce energy equal to or greater than it consumes. Walgreens plans to achieve a net-zero energy building by utilizing solar panels, wind turbines, geothermal technology, energy-efficient building materials, LED lighting and ultra-high-efficiency refrigeration. The store is located in Evanston, at the intersection of Chicago Avenue and Keeney Street. The Chicago-area location allows easy access for Walgreens engineers based at the company’s headquarters in Deerfield, to measure the store’s performance for an entire year to determine if the store reaches its goal of net-zero energy use.