WOODLAND PARK, N.J. — Azarian Realty Co. has leased 5,500 square feet at Lenox Plaza Shopping Center in Woodland Park to two tenants. Coco Chateau, which is a retailer of gowns and dresses, signed a 4,000-square-foot lease. The retailer operates two locations in the New Jersey area. Restaurant 46 Denville Grill has leased 1,500 square feet in Lenox Plaza. The restaurant serves hot dogs, burgers, fried chicken and more. The 50,000-square-foot Lenox Plaza Shopping Center is located at 1750 Route 46 W., about 13 miles north of Newark. Golfsmith, Party City, Pizza Hut and Sleepy’s anchor the property. The Azarian Group LLC and Azarian Realty Co. currently owns, manages and leases 20 properties totaling more than 1 million square feet throughout New Jersey and New York.
TIFTON, GA. — HFF has arranged the sale of Publix Plaza, a 52,600-square-foot Publix-anchored shopping center in Tifton. Publix Super Markets Inc. purchased the property for approximately $7 million. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, TMall Development LLC, an entity of Atlanta-based RCG Ventures, in the transaction. The property, which was built in 2012, was 98.1 percent occupied at the time of sale.
MORTON GROVE, ILL. — Marcus & Millichap has arranged the $7.6 million sale of Lonore Plaza, a 36,505-square-foot retail property located in Morton Grove, about 15 miles northwest of Chicago. Austin Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Oak Brook office, represented the buyer, an investment company, and the seller, a private investor. Lonore Plaza, located at 7132 Dempster St., was more than 91 percent occupied at the time of sale. Tenants include Bedding Experts, Drycleaning Factory, Subway and Betty’s Bistro.
EDEN PRAIRE, MINN. — DSW Shoe Warehouse has signed a lease for 18,852 square feet at the Eden Prairie Center in suburban Minneapolis. The new DSW will be located at 8251 Flying Cloud Drive in Eden Prairie. DSW is planning a third quarter 2014 opening date.SRS Real Estate Partners' Minneapolis office represented the tenant, DSW Shoe Warehouse, in the transaction. CAPREF Eden Prairie Center LLC represented the landlord.
TEMPE, ARIZ. — DSW Designer Shoe Warehouse has leased 20,000 square feet of space at Tempe Marketplace. The 1.3-million-square-foot shopping center is located at 2000 E. Rio Salado Parkway in Tempe. Todd Folger of CBRE’s Phoenix office represented both DSW and the center’s owner, Vestar, in this lease transaction.
BERWYN, ILL. AND JOPLIN, MO — Agree Realty Corp. has acquired two assets net leased to The Goodyear Tire & Rubber Co. and Mattress Firm Inc. in Berwyn, Ill., and Joplin, Mo., for $3.7 million. Goodyear recently signed a 15-year lease and has operated the store in suburban Chicago for more than 50 years. The Mattress Firm store, located in Joplin, is a new build-to-suit store located on a corner outlot of a Target-anchored shopping center. The average lease term remaining for the two assets is more than 13 years.
TEMPE, ARIZ. — DSW Designer Shoe Warehouse has leased 20,000 square feet of space at Tempe Marketplace. The 1.3-million-square-foot shopping center is located at 2000 E. Rio Salado Parkway in Tempe. Todd Folger of CBRE’s Phoenix office represented both DSW and the center’s owner, Vestar, in this lease transaction.
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.
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.