SAN FRANCISCO – A Nordstrom Rack is set to open on Market Street. The location will be right across from its flagship store in San Francisco. It will occupy 45,495 square feet at 901 Market Street. The discounter will absorb a portion of the building’s ground floor, as well as the entire second floor. It is scheduled to open in spring 2014. Nordstrom was represented by Randy Cantrell of Northwest Retail Partners and Jim Randolph and Danielle Bromstead Cornish & Carey Commercial Newmark Knight Frank (C&CCNKF) Retail. The landlord, an LA-based REIT, was represented by Julie Taylor of C&CCNKF Retail.
SLIDELL, LA. — Dillard's has signed a 126,000-square-foot lease to anchor the second phase of Fremaux Town Center in Slidell. Phase I of the project, totaling 330,000 square feet, is currently under construction and will be anchored by Kohl's, Dick's Sporting Goods, Michaels, T.J. Maxx and Best Buy. Phase II will include up to 320,000 square feet of additional retail space. Phase I is scheduled for completion in March 2014, with construction of Phase II set to begin around the same time. The second phase is scheduled to open in spring 2015. CBL & Associates Properties Inc. and Stirling Properties are constructing the project.
MEMPHIS, TENN. — Floor and Decor Outlets of America Inc. has signed a 75,134-square-foot lease to open the first Floor & Decor in Tennessee this July. The hard surface flooring store will be located at Perimeter Shopping Center, near the intersection of Interstates 40 and 240 in Memphis. Belz Enterprises Inc. manages the 370,000-square-foot property. The site features a traffic count of more than 100,000 cars per day. The Shopping Center Group represented Floor and Decor Outlets of America Inc. in the transaction.
ATLANTA — Regal Entertainment Group has announced that the soon-to-be constructed Avalon Stadium 12 & RPX along State Route Georgia 400 in Atlanta will include upscale amenities. Every seat will be a recliner with a footrest. The theater will also include table areas for dining, along with a menu that will feature restaurant-quality food and drink selections, as well as traditional cinema snacks. The Avalon lobby will feature a lounge with soft-seating areas and table settings. The theater's largest auditorium will be equipped for the Regal Premium Experience, which will offer the “best in both sight and sound technology,” the company states. The new theater is scheduled to open in 2014.
SCHERERVILLE, IND. — Regency Centers Corp., a national owner, operator and developer of grocery-anchored and community shopping centers, has begun construction on the $50 million first phase of Shops on Main in Schererville. Gordmans, Ross Dress for Less, HomeGoods and DSW Designer Shoe Warehouse will anchor the 147,851-square-foot community shopping center. The center is located at the intersection of two main arterial roads, U.S. Route 41 and Main Street, about 25 miles southeast of Chicago. Some of the anchors are scheduled to open in spring 2014. The first phase will include two retail buildings and five outparcels on 28 acres of the 35-acre site.
KINGSTON, N.Y. — Marcus & Millichap Real Estate Investment Services has arranged the sale of a 5,250-square-foot Verizon Wireless-occupied property in Kingston for $2.7 million. Judson Kauffman and Glen Kunofsky in Marcus & Millichap’s Manhattan office represented the buyer and seller, both private investors, in the transaction. Verizon Wireless is an outparcel to the Kings Mall, which is anchored by Marshall’s, HomeGoods, and Olive Garden. There are four years remaining on the 10-year, double net lease to Verizon Wireless.
KELLER, TEXAS — Irving-based Realty Capital Management has arranged the sale of approximately nine acres of land in Keller to Moviehouse & Eatery, a dine-in theater concept. The parcel is located on Rufe Snow Drive just south of FM 1709. The approximately 42,000-square-foot theater will include eight upscale auditoriums, reserved seating in electric recliners and a full menu and bar. The new theater will be an addition to Keller Town Center. Construction is slated to begin in the summer and the theater is anticipating opening its doors in summer 2014. Mark Boone of Realty Capital Management represented the seller in the transaction. Debi Carter of Hudson Peters Commercial represented the buyer. Moviehouse & Eatery operates another location in Austin.
THE WOODLANDS, TEXAS — The Woodlands Development Co. (TWDC), a subsidiary of The Howard Hughes Corp., has inked a 5,015-square-foot lease with Ferrari of Houston. The new satellite dealership will open in The Waterway Square District in The Woodlands, located at 1501 Lake Robbins Drive. Pat Moritz of Houston International Realty represented the tenant in the lease transaction. Rip Reynolds of The Howard Hughes Corp. represented TWDC.
GARDEN GROVE, CALIF. — Saigon Plaza, a 33,074-square-foot retail center in Garden Grove, has sold to N. D. Dinh Tran Trust for $8.5 million. The center is located at 10320 Westminister Ave. The buyer was represented by Tom Nguyenof NAI Capital’s Orange County office. The seller was Westgrove Plaza.
SAN ANTONIO — Marcus & Millichap has brokered the sale of a 13,767-square-foot retail property, located at 1933 Fredericksburg Road in San Antonio. Bethany Babcock and Chad Knibbe of Marcus & Millichap's San Antonio office represented the seller, a private investor, in the transaction. The property was constructed in 1940 and is located in the historical art deco district, which has recently undergone a beautification project.