HOUSTON — Marcus & Millichap has secured the sale of a 30,500-square-foot retail property located at 2800 San Jacinto St. in Houston. Edward Benton and Justin Miller of Marcus & Millichap's Houston office, along with David Ching of the firm's Oakland, Calif., office, represented the seller, a financial institution, in the transaction. Benton, Miller and Ching also represented the buyer, a developer.
CARROLLTON — Henry S. Miller Brokerage has arranged Fallas Discount Store's relocation from Valwood Village in Farmers Branch to the Carrollton Park Shopping Center in Carrollton. The discount store will lease 15,116 square feet of space, located at 1103 Josey Lane in Carrollton. Shawn Ackerman of Henry S. Miller represented the tenant in the lease transaction.
SCOTTSDALE, ARIZ. — Shea Scottsdale Plaza, a 12,716-square-foot shopping center in Scottsdale, has sold to SheaScott LLC for $3 million. It is located at 7337 E. Shea. The building was 96.2 percent occupied at the time of closing. Notable tenants include Dickey’s BBQ Pit, Fate Brewing Co., Valencia Salon Studios & Fascinations. SheaScott was represented by Mark Rein of Rein & Grossoehme. The seller, an entity formed by Westwood Financial, was represented by CBRE’s Steve Julius and Jesse Goldsmith.
SWEETWATER, FLA. — Swedish home furnishings retailer IKEA has purchased a 14.6-acre land parcel fronting Florida’s Turnpike adjacent to the Dolphin Mall in Sweetwater for $31.5 million. The retailer is proposing to build a 417,000-square-foot store that would open as early as fall 2014 atop a two-level parking garage with 1,500 spaces. South Florida’s first IKEA store opened in 2007 in Sunrise, Fla. IKEA stores are also located in Orlando, Fla., and Tampa, Fla. Procacci Development Corp. sold the 14.6-acre Sweetwater land parcel to IKEA.
MCLEAN, VA. — Lemont, Ill.-based Englewood Construction’s retail group has completed the nation’s first Spanx store in the Washington, D.C., area. Spanx, a popular women’s undergarment provider, opened its first retail location in the country at Tyson’s Corner Center in McLean, which is the largest shopping mall in Virginia and in the Baltimore and Washington, D.C., area. Spanx founder Sara Blakely was recently named one of the world’s youngest self-made billionaires by Forbes Magazine.
CHICAGO — Walgreens opened its latest flagship store at 1601 N. Milwaukee Ave., in the historic Noel State Bank Building in Chicago. The company preserved much of the building's original architecture and even reused an old bank feature as a “Vitamin Vault.” Leopardo served as the general contractor for the project and Camburas & Theodore Architects provided architectural services. The Noel State Bank Building was constructed in 1919. The original bank fell victim to a run on the bank during the Great Depression. The building has housed several different banks over the decades, the last being Midwest Bank, which closed several years ago. The store will include a cafe and juice bar, a wine selection featuring more than 700 wines and expert eyebrow shaping and grooming services.
WEST HARTFORD, CONN. — A Berkshire Bank property, located at 927 Farmington Ave. in West Hartford, has traded for $2.9 million. The bank signed a new, 20-year lease at the 2,680-square-foot building in May. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller in the transaction. Robert Hovarth and Todd Tremblay of Marcus & Millichap represented the buyer.
SCOTTSDALE, ARIZ. — Shea Scottsdale Plaza, a 12,716-square-foot shopping center in Scottsdale, has sold to SheaScott LLC for $3 million. It is located at 7337 E. Shea. The building was 96.2 percent occupied at the time of closing. Notable tenants include Dickey’s BBQ Pit, Fate Brewing Co., Valencia Salon Studios & Fascinations. SheaScott was represented by Mark Rein of Rein & Grossoehme. The seller, an entity formed by Westwood Financial, was represented by CBRE’s Steve Julius and Jesse Goldsmith.
BRANDENTON, FLA. — The 678,377-square-foot DeSoto Square Mall, located on U.S. Highway 41 and Cortez Road in Bradenton, has sold. An affiliate of New York-based Mason Asset Management Inc., a wholly owned subsidiary of Simon Property Group, acquired the regional mall. It opened in 1973 and was renovated in 1996. Macy’s and JCPenney anchor the retail property, which also includes an empty Dillard’s box. Peter Stevens, Dave Conn, Casey Rosen and Nik Kozy of CBRE represented the unlisted seller.
FAYETTEVILLE, N.C. — Wilton, Conn.-based Westport Capital Partners has purchased the 250,000-square-foot Marketfair Mall at the intersection of Skibo and Morganton roads in Fayetteville. A 15-screen, 60,000-square-foot Carmike Cinemas anchors the retail property, which also includes a 66,000-square-foot Gander Mountain Outdoor World and 35,000-square-foot HH Gregg. Joe Montgomery of Colliers International’s Atlanta office represented the seller.