NILES, ILL. — Private independent Asian buffet restaurant, Niles Buffet Inc., has signed a lease for 9,600 square feet at Dempster Plaza in Niles, a northern suburb of Chicago. The restaurant is taking the current Old Country Buffet space at the plaza, which is due to close at the end of the year. Niles Buffet plans to open in March 2013. Liz Krebs of Mid-America Asset Management Inc. represented the landlord in the transaction. Jack Siragusa of Cushman & Wakefield represented the tenant.
BROCKPORT, N.Y. — Calkain Cos. has arranged the $3.7 million sale of a 22,500-square-foot Tractor Supply store in Brockport. Tractor Supply is leasing the property on a long-term, triple-net basis. Andrew Fallon of Calkain Cos. represented the seller, a real estate investor and developer, in the transaction. The buyer is a private investor based in New York.
SHAWNEE, KAN. — QT226 LLC has secured a $1.6 million loan for the acquisition of a newly constructed QuikTrip store in the western Kanas City suburb of Shawnee. Caffrey & Co. arranged the 15-year loan through an undisclosed insurance company. The loan carries a 4.3 percent fixed rate for the life of the loan.
SAN DIEGO – Construction has commenced on The Headquarters, a $40-million, adaptive re-use and renovation of the Old Police Headquarters building in San Diego’s Seaport District. The new project will transform the building into a 100,000-square-foot retail, dining and entertainment destination. The space is located at 525 Pacific, adjacent to Seaport Village. The property was originally developed in 1939 and served as the San Diego Police Headquarters until 1987. The Headquarters is scheduled for completion in fall 2013. It is being developed by Terramar Retail Centers and built by Legacy Building Services.
NEW YORK CITY — Terroir Wine Bar restaurant has opened a new location at 284 Fifth Ave. in the Park Slope area of New York City. The self-proclaimed “elitist wine bar for everyone” occupies 2,200 square feet at the property, next to the restaurant Blue Ribbon. The wine bar is open every day and is comprised of 1,100 square feet on the ground floor and lower level. Mark Tergesen of ABS Partners Real Estate represented the tenant in the transaction.
DALLAS — Inland Diversified Real Estate Trust has acquired the newly constructed Wheatland Town Center, a 206,223-square-foot shopping center located in Dallas, for $39.3 million. The center's tenant roster includes Ross Dress for Less, PetSmart, Party City, Dollar Tree, Shoe Carnival, Rue21, Five Below, Citi Trends, The Children's Place, Radio Shack and Office Depot. Inland was self-represented by vice president Matt Tice in the transaction.
SAN DIEGO – Construction has commenced on The Headquarters, a $40-million, adaptive re-use and renovation of the Old Police Headquarters building in San Diego’s Seaport District. The new project will transform the building into a 100,000-square-foot retail, dining and entertainment destination. The space is located at 525 Pacific, adjacent to Seaport Village. The property was originally developed in 1939 and served as the San Diego Police Headquarters until 1987. The Headquarters is scheduled for completion in fall 2013. It is being developed by Terramar Retail Centers and built by Legacy Building Services.
LAS VEGAS – Robert Graham has signed a lease to open a branded retail store at the Fashion Show Mall in Las Vegas. The store will offer the full Robert Graham collection. The Robert Graham store is set to open in spring 2013.
SAVANNAH, GA. — The 185,244-square-foot Abercorn Common, a community shopping center located adjacent to Oglethorpe Mall in Savannah, has traded through Auction.com. It is 96 percent leased to tenants including HomeGoods, Michaels, Office Depot, Party City, ULTA, Ashley Furniture, McDonald’s, Firehouse Subs and Panera Bread. A special purpose entity controlled by LNR Partners LLC served as special servicer and the buyer was a private investor from Savannah. Mark Gilbert, Adam Feinstein and Gary Saykaly of Cushman & Wakefield Retail Investment Advisors acted on behalf of the seller.
BROOK PARK, OHIO — Philips Edison — ARC Shopping Center REIT has acquired Brook Park Plaza, a 157,459-square-foot shopping center in Brook Park, a suburb of Cleveland, for $10 million. The center is 87 percent occupied and anchored by an 82,000-square-foot Giant Eagle grocery store, which has a fuel station.