DENTON — Rayzor Ranch Town Center, a new open-air retail and entertainment development located at the intersection of Interstate 35 and U.S. Highway 380 in Denton, will add a 126,000-square-foot Dillard's to its tenant roster. Dillard's will serve as the shopping center's first anchor department store. RED Development, owner of Rayzor Ranch, plans to build out the center to 600,000 square feet and add several high-quality tenants.
HOUSTON — Marcus & Millichap has arranged the sale of a 5,000-square-foot shopping center, located at 3507 S. Shepherd in Houston's inner loop. Derek Hargrove of Marcus & Millichap represented the seller, a private partnership, in the transaction. Braun Enterprises is the buyer.
LAGUNA HILLS, CALIF. — The Fresh Market, a full-service specialty grocer, has opened its first Southern California location at The Village at Nellie Gail Ranch in Laguna Hills. The 21,000-square-foot store is expected to open in summer 2014. The village is undergoing a $17-million renovation and expansion.
KATY — Ybarra Investment/Jimmy Changa's has purchased an 87,991-square-foot site at the southwest corner of Interstate 10 and Westgreen in Katy from Vista Red. Mac Ruggles of Texas/Southwest Group represented the buyer in the transaction. Eric Walker of Capital Retail Properties represented the seller.
GLENDALE, CALIF. –An investment group headed byCapital Real Estate Advisors has purchased a34,000-square-foot, stand-alone grocery store building in Glendale. The seller, a previous tenant, vacated the building in early November. Capital Real Estate plans to retant and potentially redevelop the property. The firm was represented in-house byMichael Poyer.
CORAL SPRINGS, GA. — Westview Shoppes, a distressed 60,732-square-foot shopping center anchored by Office Depot at 9525 Westview Dr. in Coral Springs, has sold for $9.6 million. Drew Kristol, Kirk Olson and Greg Zeifman of Marcus & Millichap’s Miami office represented the seller, Westview Shoppes Fla. LLC. A North Miami Beach, Fla.-based private investor purchased the retail property. Westview Shoppes was built in 1999 and features two retail plazas. Tenants include Youfit Health Club, Mega Liquors, Dunkin’ Donuts, Anthony’s Coal Fired Pizza and a dry cleaning business.
DAYTON, OHIO — Cooper Commercial has arranged the $885,000 sale of a freestanding Wright-Patt Credit Union in Dayton. The 3,500-square-foot property was developed in 2010 and requires no landlord responsibilities. Wright-Patt has a ground lease on the property through 2030, with 10 percent rental increases every five years. Bob Havasi of Cooper Commercial represented the sellers, an institutional entity based in New York. The buyer was a private group based in Cleveland.
PLANO — A 47,000-square-foot former Sports Authority, located at 701 Taylor Drive in Plano, will be the site of the new Dark Shadows Entertainment Center. The new tenant will provide year-round events, such as murder mystery dinners, corporate meetings, musical specials and weddings, as well as seasonal events, including haunted houses and Christmas fares. Construction of the new complex is expected to begin before the end of the year. Shawn Loney and Greg Trout of Henry S. Miller Brokerage represented the seller in the transaction.
HOUSTON — Marcus & Millichap has arranged the sale of the 22,465-square-foot Fondren Shopping Center, located at 2801 Fondren Road in Houston. Derek Hargrove and Justin Miller of Marcus & Millichap's Houston office represented the seller, Braun Enterprises, in the transaction. Hargrove and Miller also procured the all-cash buyer, a Houston-based limited liability company.
GLENDALE, CALIF. — An investment group headed by Capital Real Estate Advisors has purchased a 34,000-square-foot, stand-alone grocery store building in Glendale. The seller, a previous tenant, vacated the building in early November. Capital Real Estate plans to retant and potentially redevelop the property. The firm was represented in-house by Michael Poyer.
