GARDEN CITY, N.Y. — ULTA Beauty, the national retailer of prestige and mass beauty products, including cosmetics, fragrance, hair care and more, has signed a lease for a 11,400-square-foot space in the Mall at Bay Plaza. The 780,000-square-foot mall is under construction now and will open third quarter of 2014. This will be ULTA's first location in the Bronx. Sabre Real Estate Group arranged the lease.
Retail
THE WOODLANDS, TEXAS — Marcus & Millichap has brokered the sale of Marcel Crossing II, a 27,128-square-foot shopping center in The Woodlands. Located at 8000 McBeth Way, the property houses tenants including Vedas Med Spa, Boni’s Dance Studio, Kumon and The Breakfast Place. Derek Hargrove and Justin Miller of Marcus & Millichap marketed the asset on behalf of the seller, locally based developer Marcel Group. Hargrove and Miller also secured the buyer, an out-of-state limited liability company.
WYLIE, TEXAS — Bright Realty has brokered the sale of Harvest Plaza, a 20,050-square-foot retail property in the far northeast Dallas suburb of Wylie. The asset is situated on more than three acres at 2014 State Highway 78. Tim McNutt and Britton Lankford of Bright Realty represented the unnamed seller in the transaction, while the buyer, DuWest Realty, was internally represented by Will Walters.
LONG BEACH, CALIF. – A retail building in Long Beach that is occupied by a CVS store has received $2.7 million in refinancing. The store is located at 1250 E. Pacific Coast Highway. The loan features a 10-year term and a 25-year amortization schedule. It was arranged by Doug Austin of NorthMarq Capital’s San Diego office through the firm’s relationship with a correspondent life company.
ST. PETERSBURG, FLA. — J Square Developers has completed the demolition and begun the redevelopment of a 15,500-square-foot shopping center at 2700 4th St. N. in St. Petersburg. The property is fully pre-leased and will include a 12,500-square-foot Trader Joe’s and a 3,000-square-foot freestanding Vitamin Shoppe. The project team includes general contractor Wichman Construction Co., architect CSJM Architects and civil engineer ARO Engineering. American Momentum Bank is providing construction financing for the project.
POMPANO BEACH, FLA. — Auction.com has sold the Pompano Merchandise Mart on behalf of seller Pompano Lincoln Industrial for approximately $9 million. The 118,242-square-foot, four-building property is located at 2099 and 2101 W. Atlantic Blvd. in Pompano Beach. The property’s tenants include Northern Tool + Equipment and Jerry’s Casual Patio. Michael Jimenez and Andre Cuadrado of Auction.com’s Miami officer represented the seller in the transaction.
NORTH RICHLAND HILLS, TEXAS — Realty Capital Management LLC has sold a 16,514-square-foot retail property in the Fort Worth suburb of North Richland Hills. Located at 9101 Boulevard 26, within Realty Capital Management’s The Venue at Hometown mixed-use development, the strip shopping center houses tenants including Roots Coffeehouse, Mama’s Pizza, Chapps Hamburger Café, Venue Spa & Nails and the U.S. Armed Forces Career Center. Realty Capital Management was internally represented by Mark Boone in the transaction. Carey Cox Co. represented the buyer, a local investor.
HONOLULU, HAWAII — Johnny Rockets and Fun Foods LLC have signed an area development agreement to bring Johnny Rockets restaurants to Hawaii and Guam. Fun Foods LLC is a sister company of the Fernandez Entertainment group, which operates E. K. Fernandez Shows and Fun Factory. Fun Factory operates family entertainment centers on Oahu, Maui, the Big Island and Kauai. E. K. Fernandez Shows is a locally owned, third-generation family business that provides carnival, fair and circus attractions in Hawaii. Pacific Business Newsnotes Johnny Rockets is targeting locations in Waikiki and Ala Moana Center, among others. It has also been in talks with Fun Factory to open restaurants either adjacent to or inside the family entertainment centers, though nothing has been decided yet.
MORROW, GA. — Los Angeles-based Vintage Real Estate has acquired the 1 million-square-foot Southlake Mall, located at 1000 Southlake Circle in Morrow, about 14 miles south from downtown Atlanta. Macy’s and Sears anchor the mall, which is currently 90 percent leased to tenants including Victoria’s Secret, American Eagle Outfitters, Footlocker, Helzberg Diamonds, Aeropostale, Bath & Body Works, Finish Line, New York & Co., Children’s Place, City Gear, DTLR, Kay Jewelers, rue21 and Express. The former owner, General Growth Properties, placed $100 million of debt on the property in 2007. In February 2013, the undisclosed lender foreclosed on the property. Vintage plans to bring in new tenants and upgrade the common areas of the mall. Additionally, Vintage will redevelop an adjacent 160,000-square-foot building that JC Penney vacated in 2011. That property is currently under contract for purchase.
SAN DIEGO – A 42,973-square-foot Albertsons supermarket in Downtown San Diego has received $12.7 million in financing. The supermarket is located within the East Village neighborhood. It occupies the ground floor of a seven-story, mixed-use development that includes a 229-unit luxury apartment complex. Financing was arranged by Jamie Dick and Jay Dick of Newmark Realty Capital’s San Diego office. The borrower was a Southern California-based investment management company. The lender is an East Coast based bank.