LEWISVILLE, TEXAS — Stream Realty Partners has arranged the sale of a 35,278-square-foot retail property, located at 1600 S. Stemmons Freeway in Lewisville. The property is fully occupied by Studio Movie Grill. Jamie Jennings, Ben Hautt, Keith Fisher and James Mantzuranis of Stream Realty Partners' Investment Sales team represented the seller in the transaction.
AUSTIN, TEXAS — Schlotzsky's has signed an agreement to open 170 new locations, its largest franchise initiative in more than 40 years. The company will open its stores throughout California, including Los Angeles, Riverside, Ventura and San Bernardino counties. Each location offers its signature deli sandwiches and salads, as well as Carvel ice cream and Cinnabon. The Austin-based company has more than 350 locations worldwide and plans to have around 700 locations by 2016.
AUSTIN, TEXAS — Schlotzsky's has signed an agreement to open 170 new locations, its largest franchise initiative in more than 40 years. The company will open its stores throughout California, including Los Angeles, Riverside, Ventura and San Bernardino counties. Each location offers its signature deli sandwiches and salads, as well as Carvel ice cream and Cinnabon. The Austin-based company has more than 350 locations worldwide and plans to have around 700 locations by 2016.
CYPRESS, CALIF. — The Shops at Cypress have sold to an unnamed buyer for $9.5 million. The center sold for $519 per square foot at a 6.1 percent cap rate. It is fully triple-net leased to national tenants. The center is shadow anchored by Costco. The buyer assumed the existing CMBS loan. The sale was executed by CBRE’s National Retail Investment Group-West group, which also worked with 1st Service Solutions to expedite the loan assumption process.
TOLEDO, OHIO —Marketplace Executive X LLC has purchased Executive Marketplace in Toldeo for $3.2 million. Executive Marketplace LLC sold the 39,710-square-foot retail strip center, located at 3550 Secor Road. Joe Belinske of Reichle | Klein Group represented both the seller and buyer in the deal.
HUNTLEY, ILL. — ACG Equities has purchased Huntley Crossings, a 28-acre development site located at Route 47 and Powers Road in Huntley, for $2.5 million. Although large-scale retail development is not likely in the near future, development in the back portion of the site should occur in the next few years, according to Transwestern, which brokered the sale. During the marketing period, Route 47 was widened and construction began on a new interchange at I-90. Both projects are expected to increase daily traffic counts at the site.
HOUSTON — Marcus & Millichap has arranged the sale of the 111,824-square-foot Huntington Village Shopping Center, located at 12605 Bissonnet in Houston. The shopping center's list price was $6.65 million. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, Brixmor Properties, in the transaction.
LEWISVILLE, TEXAS — The Weitzman Group and Cencor Realty Services have been assigned to lease and manage the 315,008-square-foot Lakepointe Crossing Shopping Center in Lewisville. The shopping center, located at State Highway 121 and Interstate 35 East, is shadow-anchored by Garden Ridge. The shopping center's tenants include Academy Sports + Outdoors, Toys “R” Us, Conn's, Pier 1 Imports and David's Bridal. Austin Schenkel and Matt Baisch of The Weitzman Group will handle the center's leasing efforts, while Stephanie Burgess of Cencor is the center's property manager.
CYPRESS, CALIF. — The Shops at Cypress have sold to an unnamed buyer for $9.5 million. The center sold for $519 per square foot at a 6.1 percent cap rate. It is fully triple-net leased to national tenants. The center is shadow anchored by Costco. The buyer assumed the existing CMBS loan. The sale was executed by CBRE’s National Retail Investment Group-West group, which also worked with 1st Service Solutions to expedite the loan assumption process.
SEATTLE – A 4,000-square-foot property in Seattle that is net leased to Young’s Market Company has sold to a limited liability company for $2 million. The retail property is located at 5900 15th Ave. Northwest in the city’s Ballard neighborhood. The space was previously occupied by Blockbuster. Dan Swanson and Dino A. Christophilis of Marcus & Millichap’s Seattle office represented both the buyer and the seller, a private investor, in this transaction.