LINCOLNWOOD, ILL. — Quantum Real Estate Advisors has arranged the $5.9 million sale of two multi-tenant shopping centers at the corner of Touhy Avenue and McCormick Boulevard in Lincolnwood. Tenants include Verizon Wireless, Five Guys Burgers and Chipotle. Both retail centers are outlots to Lincolnwood Town Center, a shopping mall owned and managed by Simon Property Group. Chad Firsel of Quantum represented the seller, a joint venture between Smith Capital Management and Middleton Partners. He also represented the buyer, an investment group from Chicago.
Retail
LOS ANGELES – Groceries Apparel has moved and expanded its corporate headquarters and manufacturing facilities to Alameda Square in Downtown Los Angeles. The men’s and women’s apparel manufacturer, distributor and wholesaler has signed a five-year lease with EVOQ Properties. It plansto occupy 33,000 square feet of Building 2 at Alameda Square. The new space will allow the retailer to nearly double its operations.
GLENDALE, ARIZ. – Cactus Crossings, a 91,563-square-foot neighborhood retail center in Glendale, has sold to WVP Cactus, LLC for $7.8 million. It is located at the northeast corner of 67th Avenue and Cactus Road. The center is 92 percent occupied. Notable tenants include Anytime Fitness, Edward Jones, Ultra Cleaners and Century 21 Realty. It is anchored by Big Lots. The seller, EC Cactus Crossings, LLC, was represented by Ryan Schubert and Michael Hackett of Cassidy Turley Arizona’s Retail Capital Markets Group.
NAPA, CALIF. – Cinemark Holdings has opened a new 12-screen, all-digital movie theater in Napa. The new Cinemark NextGen cinema design concept is located at 195 Gasser Drive behind the South Napa Marketplace. It includes aCinemark XD:Extreme Digital Cinemaauditorium, as well as a new CineVino Wine Bar, which features local wines from Napa Valley and Sonoma County.
SUNRISE, FLA. — West Palm Beach, Fla.-based Kennedy Contractors Inc. has completed an $8 million, 160,000-square-foot renovation and expansion of Sawgrass Mills Mall in Sunrise. The Mills Co., an affiliate of Simon Property Group, owns the retail property. The renovation included demolition of Wannado City, a children’s educational and play facility, and construction of a new mall entrance as well as expansion of the mall’s primary promenade. Two dozen new tenants were added including Columbia Sportswear and Calvin Klein, and the existing Forever 21 was expanded by 30,000 square feet. The new wing is part of Sawgrass Mills’ ongoing expansion, which includes a 35,000-square-foot addition to The Colonnades, which is the mall’s outdoor lifestyle center.
ORLANDO, FLA. — A Dollar General store at 3081 Curry Ford Rd. in Orlando has traded for $1.6 million. The Gainesville, Fla.-based developer sold it to an Apollo Beach, Fla.-based investment company. Bryan Belk of Franklin Street represented the seller in an all-cash transaction. The store is a new construction Dollar General with a 15-year triple net lease.
CLEVELAND — Cooper Commercial Investment Group has arranged the $1.3 million sale of an Advance Auto Parts property on Borokpark Road in Cleveland. Advance Auto recently extended its triple-net lease for 10 years. Dan Cooper of Cooper Commercial represented the seller, a private investor out of Cleveland. Brian Parmacek, also of Cooper Commercial, represented the buyer, a private group of investors.
WALES, WIS. — Marcus & Millichap has arranged the $680,000 sale of Cymric Corners, an 8,400-square-foot shopping center in Wales, about nine miles west of Waukesha, Wis. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the seller, a locally based investor. The buyer is a private investor form New York.
DALLAS — Dallas-based UCR Investment Sales has closed on the $33.6 million sale of four shopping centers located in the Dallas/Fort Worth area totaling 223,749 square feet. The properties include the 59,986-square-foot South Towne Crossing in Burleson, the 29,897-square-foot Lake Forest Crossing in McKinney, the 42,700-square-foot McDermott Towne Crossing in Allen and the 91,116-square-foot Beach Western Commons in Fort Worth. UCR represented the Retail Properties of America, the seller, in the South Towne, Lake Forest and McDermott Towne transactions. UCR also represented CNA Enterprises, the seller, in the Beach Western Commons transaction.
GARLAND — NorthMarq Capital has arranged $1.4 million in first mortgage refinancing for the 32,000-square-foot Belt Line Retail, a shopping center located at 1225 Belt Line Road in Garland. Bart Dickinson of NorthMarq arranged the 25-year loan with a 25-year amortization schedule through a life insurance company lender.