ALLEN — San Antonio-based Taco Cabana has opened a new location at 810 W. Stacy Road in Allen. Sprinkle & Co. Architects handled the restaurant's redesign. There are currently more than 156 Taco Cabanas operating in three states.
HOUSTON — Marcus & Millichap has arranged the sale of a 2,520-square-foot retail property net-leased to Whataburger, located at 17234 NW Freeway in Houston. Whataburger has operated the site, which is an outparcel of the 200,000-square-foot Northwest Village, for 24 years. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, a Colorado-based limited liability company, in the transaction. The buyer was a California-based partnership.
BOSTON — Linear Retail Properties has purchased two retail units on the ground floor of The Bryant Back Bay condominiums for $1.7 million. The acquisitions are located at 303 Columbus Ave. in Boston's South End neighborhood. The retail condos total 2,970 square feet. One retail space has been leased to The Urban Grape, a neighborhood wine store, which will open in September. Lease negotiations are under way with a specialty food market for the other unit. Michael d'Hemecourt of Boston Realty Advisors represented the seller, Vornado Realty Trust, in the transaction. He also procured the buyer.
SAN ANTONIO — Regal Entertainment Group will open Huebner Oaks Stadium 14, a movie theater located in San Antonio. The new theater will feature 3D movies; stadium seating; high-back headrests; capabilities for the deaf, hard of hearing, blind and low-vision patrons; concession stand and Regal Premium Experience (RPX) technology. Additionally, the theater can hold 2,700 moviegoers. The theater brings Regal's total portfolio of theaters to 519 operating in 37 states and Washington, D.C.
DALLAS — Marcus & Millichap has arranged the sale of Lemmon Avenue Retail, a 7,158-square-foot retail center located at 5006, 5014 and 5016-18 Lemmon Ave. in Dallas. Jason Vitorino of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction, and procured the buyer, a Texas-based partnership. Cash America had less than one year remaining on its lease term at the time of the sale.
NEW ORLEANS — The Howard Hughes Corporation plans to invest $70 million for the redevelopment of the 200,000-square-foot Riverwalk Marketplace, a shopping center located in New Orleans. The project will convert the property into The Outlet Collection at Riverwalk and will add nearly 50,000 square feet of established outlet stores, local retail, dining and entertainment options. Construction is scheduled to begin by year's end, with the property expected to reopen in late 2013.
MARSHALL AND PASADENA — Meridian Capital Group has arranged an $11.7 million CMBS refinancing package for four triple-net leased retail properties, including two 15,120-square-foot Walgreens located on East End Boulevard in Marshall and South Richey Street in Pasadena. The other properties are located in Arkansas and Florida. Ronnie Levine and Jack Coopersmith of Meridian Capital's New York City office arranged the 10-year CMBS financing package through Citigroup Global Markets on behalf of the borrower, Gary Solomon & Co.
TEMPE, ARIZ. — A 35,490-square-foot retail building at Broadway Plaza in Tempe has sold to the Tarazi Family Trust for $2.6 million. The property was built in 1981 on the southwest corner of Broadway Road and McClintock Drive. Cam Stanton and Joseph Miller of CBRE’s Phoenix office represented the seller, Do We Group LLC & BP La Sierra LLC, in this transaction. The duo also structured the sale.
CROSSVILLE, TENN. — Broad Reach Retail Partners has sold the 180,767-square-foot Highland Square Shopping Center, located at the corner of Elmore Road and West Avenue in Crossville, for $12.25 million. Kroger, Dunham's Sporting Goods, Tractor Supply and Goody's anchor the center, which is 93 percent leased.
CORDELE, GA. — Cassidy Turley has arranged the $4.4 million sale of the 120,868-square-foot Cordele Corners, a shopping center located near Interstate 75 in Cordele. Tractor Supply, Bealls and Dollar Tree anchor the center, which is 70 percent leased. Mark Joines and Drew Fleming of Cassidy Turley represented RCG Ventures, the seller, in the transaction. The buyer was a Florida-based private equity group.