GRAND PRAIRIE — Saks Fifth Avenue OFF 5TH has opened its ninth Texas location at the new Paragon Outlets in Grand Prairie. The 27,548-square-foot store is the company's 64th location.
COPPELL — The Learning Experience Academy of Early Education has leased an 11,000-square-foot office building, located at 123 E. Sandy Lake Road in Coppell, near Dallas. The lease term is 15 years. The property will include a 5,200-square-foot playground. Bob Buell of Fults Commercial Real Estate represented the landlord, 3B Developers, in the lease transaction. Jordan Meyerson of ComRealty Group represented the tenant.
IMPERIAL BEACH, CALIF. – A 14,884-square-foot retail property occupied by CVS in Imperial Beach has sold to Drooz Trust for $7 million. It is located at 800 Palm. Drooz was represented by Hamid Soroudi and Kimberly Roberts Stepp of Charles Dunn Company. The seller, Imperial Beach Promenade, LLC was represented by Sam Hanna of Marcus & Millichap.
CHARLOTTE, N.C. — Percival McGuire has broken ground on the $7 million, 35,000-square-foot Northlake Plaza, a retail center located at 7809 W. W.T. Harris Blvd. in Charlotte. The center is pre-leased to McDonald's, Buffalo Wild Wings and Discount Tire. Percival McGuire is also planning a fourth building totaling 10,000 square feet for the property. McDonald's is slated to open in the first quarter of 2013, and Buffalo Wild Wings and Discount Tire will open in the second quarter of 2013.
ROCKVILLE, MD. — Weingarten Realty Investors has acquired the 81,300-square-foot Pike Center, located at the intersection of Rockville Pike and Bou Avenue in Rockville, from JBG Cos. and JBG Rosenfeld Retail for $54 million. Tenants include Office Depot, Cici's Pizza, T.G.I. Friday's and a proposed Walmart.
NEW YORK CITY — United American Land has acquired 160-08 Jamaica Ave., a retail development site in Queens, for $14 million. The property contains 156,000 buildable square feet and is the largest retail development site on Jamaica Avenue. The property had been vacant for 20 years. United American Land plans to renovate the property and lease it to a major big-box retailer within the next six months. Yosef Katz of GFI Realty Services represented the seller, Petra Capital Management, in the transaction. He also represented the buyer.
HOUSTON — Brixmor has sold five shopping centers totaling 262,755 square feet in the Houston MSA. The centers include North 45 Plaza, Tidwell Place Shopping Center and Lazybrook Shopping in Houston, as well as Parkview West Shopping Center and Parkview East Shopping Center in Pasadena. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller in the transaction. A Dallas-based private investor group acquired North 45 Plaza, Tidwell Place and Parkview West. A Houston-based investor purchased Lazybrook and an Amarillo-based partnership acquired Parkview East.
MORRISVILLE, N.C. — Pace Financial Group has secured $68.7 million in interim and construction financing for Phases I and II of Park West Village, a mixed-use development located in Morrisville. Upon completion, the property will span 375,000 square feet. Pace Financial Group arranged the financing through US Bank and Key Bank on behalf of Casto Group, the borrower.
VERNON HILLS, ILL. — Hobby Lobby has signed a 46,984-square-foot lease at the Hawthorn Village Commons shopping center at 220 Townline Road in Vernon Hills. Additional tenants include Dollar Tree, Pearle Vision and El Famous Burrito. Inland Real Estate Corp., the property owner, was self-represented by Mike Fitzgerald in the transaction. The retailer is scheduled to open later this year.
PHOENIX – Goodwill has leased a 50,000-square-foot space at the northwest corner of Thomas Road and 32nd Street in Phoenix. The company will be expanding and relocating to this new space once it opens in early 2013. Goodwill was represented by Andy Kroot of Velocity Retail. The landlord, Bodega Latina Corporation, was represented by Ed Beeh and Robbie Petty of SRS Real Estate Partners.