TALLAHASSEE, FLA. — The $2.4 million, 9,000-square-foot Midtown Centre, a retail property at 1321 Thomasville Rd. in Tallahassee’s Midtown submarket, is under construction. Osborne & Co. is developing Midtown Centre and Omni Construction is the project contractor. CRA Architects is designing the retail property to complement the nearby Los Robles neighborhood’s architecture.
NEW YORK CITY — New York City-based Garrison Investment Group has purchased a 13-property portfolio of neighborhood and community shopping centers totaling 1.7 million square feet in Ohio and Indiana. The seller is Kimco Realty Corp. The properties feature prominent retailers such as T.J. Maxx, Giant Eagle, Kroger and Home Depot. Cincinnati-based Select Strategies will manage and lease the properties. The portfolio is 90 percent leased.
CHICAGO — Sovran Acquisition has acquired Safe & Secure Storage, a 63,910-square-foot self-storage facility in Chicago. The property is located at 20765 W. Grass Lake Road and will be rebranded as Uncle Bob's Self Storage. The property contains 433 units, 110 of which are climate controlled, and 27 parking spaces. Sean Delaney of Marcus & Millichap represented the seller, a private investor, in the transaction. Angelo Tomasello, Tony Rider, Peter Weimer and Jonathan Attea of The Locke Group represented the buyer.
CRYSTAL LAKE AND NORTHBROOK, ILL. — Title Boxing Club is expanding its presence in Chicagoland after signing a lease for 7,832 square feet of retail space in Randall Plaza, located at 435 Angela Lane in Crystal Lake. Ben Andrews and Andrew Gomez of Sperry Van Ness represented the tenant in the transaction. Additionally, the company inked a lease for 6,836 square feet at Brookside Plaza in Northbrook. Title Boxing Club has locations currently operating in Buffalo Grove, Schaumburg and Naperville, as well as multiple states nationwide.
NEW YORK CITY — Swedish discount retailer Hennes & Mauritz AB has signed a lease to open a 42,500-square-foot store at 4 Times Square. The three-floor store will include collections for ladies, men and children. The company will also install H&M signage at the top of the building that measures 70 feet by 70 feet. H&M is filling retail space vacated by ESPN Zone approximately two years ago. The company plans to continue its expansion in the New York market and announced it will open a store at The Shops at Columbus Circle in the Time Warner Center at the end of this year. H&M will also open a 57,000-square-foot store at 589 Fifth Ave., which will be the company's largest outlet in the world.
TEMPLE — Dragon Realty LLC has purchased a 9,786-square-foot freestanding restaurant building, located at 2113 SW HK Dodgen Loop in Temple. Tom Paredes and Taylor Roberts of the John T. Evans Co. represented the seller, Golden Corral, in the transaction.
SONORA, CALIF. – Downtown Sonora Plaza, a 40,600-square-footshoppingcenter, has sold to Dwares Group for a little more than $3 million. The center is currently 94 percent leased. Notable tenants include anchor Save Mart, along with a regional pharmacy and community bank. Dwares plans to renovate the property. The company was represented by Patrick Follett and Jon Gianulias of Core Commercial. Follett also represented the unnamed seller.
LEXINGTON, VA. — Nelson Street Realty LLC, an affiliate of Charlotte, N.C.-based Morgan Property Group, has sold 3.14 acres of land on East Nelson Street and U.S. Route 11A in Lexington for $2.1 million. Altoona, Pa.-based Sheetz Inc., a family owned and operated convenience store chain, has signed a ground lease for the development of a convenience store. The City of Lexington approved the land for construction late last summer. Marcus & Millichap represented Nelson Street Realty and Marstellar Realty represented the unlisted buyer.
PITTSBURGH — A joint venture between BIG Shopping Centers USA and M&J Wilkow has purchased the majority of the retail space at the Waterfront, a 1.4 million-square-foot open-air shopping center in suburban Pittsburgh. The companies bought a total of 765,000 square feet of the Waterfront, which includes the anchoring AMC Loews Theater. The sales price is a reported $110 million. Lowe's Home Improvement, Target, Giant Eagle, Macy's, Costco and several outparcels were not included in the sale. The new owners have planned some improvements for the property. The Waterfront, located on the former site of U.S. Steel's Homestead Steel Works, is the region's second largest shopping center.
NEW YORK CITY — Armani Exchange will be the first retailer to open in the recently completed first phase of the massive City Point project in Brooklyn. The luxury retailer has signed a lease for 6,500 square feet on the corner of Fulton and Gold streets and will open in November. In May, Century 21, a discount designer retailer, announced it would open a 125,000-square-foot store to anchor City Point. The store is set to open in the fall of 2015. A partnership led by Arcadia Realty Trust is developing the mixed-use City Point project, which is planned to include 1.6 million square feet when completed in 2018.