HUNTLEY, ILL. — ACG Equities has purchased Huntley Crossings, a 28-acre development site located at Route 47 and Powers Road in Huntley, for $2.5 million. Although large-scale retail development is not likely in the near future, development in the back portion of the site should occur in the next few years, according to Transwestern, which brokered the sale. During the marketing period, Route 47 was widened and construction began on a new interchange at I-90. Both projects are expected to increase daily traffic counts at the site.
HOUSTON — Marcus & Millichap has arranged the sale of the 111,824-square-foot Huntington Village Shopping Center, located at 12605 Bissonnet in Houston. The shopping center's list price was $6.65 million. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, Brixmor Properties, in the transaction.
LEWISVILLE, TEXAS — The Weitzman Group and Cencor Realty Services have been assigned to lease and manage the 315,008-square-foot Lakepointe Crossing Shopping Center in Lewisville. The shopping center, located at State Highway 121 and Interstate 35 East, is shadow-anchored by Garden Ridge. The shopping center's tenants include Academy Sports + Outdoors, Toys “R” Us, Conn's, Pier 1 Imports and David's Bridal. Austin Schenkel and Matt Baisch of The Weitzman Group will handle the center's leasing efforts, while Stephanie Burgess of Cencor is the center's property manager.
CYPRESS, CALIF. — The Shops at Cypress have sold to an unnamed buyer for $9.5 million. The center sold for $519 per square foot at a 6.1 percent cap rate. It is fully triple-net leased to national tenants. The center is shadow anchored by Costco. The buyer assumed the existing CMBS loan. The sale was executed by CBRE’s National Retail Investment Group-West group, which also worked with 1st Service Solutions to expedite the loan assumption process.
SEATTLE – A 4,000-square-foot property in Seattle that is net leased to Young’s Market Company has sold to a limited liability company for $2 million. The retail property is located at 5900 15th Ave. Northwest in the city’s Ballard neighborhood. The space was previously occupied by Blockbuster. Dan Swanson and Dino A. Christophilis of Marcus & Millichap’s Seattle office represented both the buyer and the seller, a private investor, in this transaction.
SAN ANTONIO — Marcus & Millichap has brokered the sale of the 60,521-square-foot Carillon Hills Shopping Center, located at 5805-5889 Babcock Road in northwest San Antonio. Dollar Tree is the shopping center's anchor tenant. Stephen Berchelmann and Chad Knibbe of Marcus & Millichap's San Antonio office represented the seller in the transaction. Knibbe and Bethany Babcock, also of Marcus & Millichap's San Antonio office, secured the buyer.
SEATTLE – A 4,000-square-foot property in Seattle that is net leased to Young’s Market Company has sold to a limited liability company for $2 million. The retail property is located at 5900 15th Ave. Northwest in the city’s Ballard neighborhood. The space was previously occupied by Blockbuster. Dan Swanson and Dino A. Christophilis of Marcus & Millichap’s Seattle office represented both the buyer and the seller, a private investor, in this transaction.
EL PASO, TEXAS — El Paso-based MIMCO is growing its retail portfolio with several developments and redevelopments in west El Paso and across Texas. The El Paso projects include development of a new 39,000-square-foot retail showroom project in west El Paso; development of a new 80,000-square-foot retail center in El Paso; acquisition of a 45,000-square-foot retail center at 9411 Alameda in southeast El Paso; development of a new 80,000-square-foot retail center in southeast El Paso; conversion of a 36,000-square-foot Bowlero Lanes to retail space in northeast El Paso; completion and preleasing of the new 30,000-square-foot Sandstone Pointe Shopping Center on Sean Haggerty at U.S. Highway 54; and planning for development of a 150,000-square-foot community center at McCombs and U.S. Highway 54. The projects throughout Texas include development of a 78,000-square-foot retail asset in McAllen; development of a 46,000-square-foot center in Austin; development of a 68,000-square-foot shopping center in Fredericksburg; and the development of three Dallas properties totaling more than 165,000 square feet.
PLANO, TEXAS — Venture Commercial has brokered the sale of 58,000 square feet of anchor space at Preston Parker Crossing in Plano to Wal-Mart Stores Inc. Preston Parker Crossing is a shopping center located at 3312 Preston Road in Plano whose tenant roster includes Anamia’s Tex-Mex, Horchow Finale, Legacy Bank and Jason’s Deli. Walmart will open a Neighborhood Market location at Preston Parker Crossing. Sprouts was the previous occupant of the anchor space. John Zikos, Tonya Hagood, and Chris Booras of Venture Commercial represented the seller, Centennial Real Estate Co., in the transaction. Kent Stainback and Mark Parks of The Stainback Organization represented Wal-Mart Stores Inc.
LAWTON, OKLA. — Marcus & Millichap has arranged the sale of a 5,515-square-foot Lone Star Steakhouse & Saloon, a net leased property located at 5374 N.W. Cache Road in Lawton. Nicholas Farris and Jason Vitorino of Marcus & Millichap’s Dallas office represented the seller, a limited liability company, and procured the buyer, a private investor. Lone Star Steakhouse & Saloon is based in Dallas and has more than 100 steakhouses in 30 states.