PHILADELPHIA — Visionworks, the Texas-based optical retailer, has opened its first location in the Philadelphia region. The store is located in Deptford Township, N.J., a suburb of Philadelphia, on the eastern side of the Walt Whitman Bridge. It's the first of more than 25 stores expected to open in the market in 2013. Visionworks said it plans to open 17 stores before the end of the year and additional locations by April 2013. The retail locations are expected to hire 600 new employees.
EAST WINDSOR, N.J. — A joint venture partnership between Advance Realty and Structure Tone Equities has acquired The Windsor Hights Shopping Center, a 132,733-square-foot shopping mall in East Windsor. The mall is 40 percent occupied and located on Route 30, with 92,000 square feet of space available for lease. The center is on Route 130 and Princeton Hightstown Road. Christopher Bellapianta of Advance Realty represented the joint venture in the transaction.
DENTON — Cadence McShane has been selected to develop the 75,167-square-foot first phase of a multi-phase renovation of the 765,000-square-foot Golden Triangle Mall, located at Interstate 35 East and Loop 288 in Denton. GTM Development, created by The MGHerring Group and Cencor Realty Services, purchased the property in November 2011. The mall features 90 specialty stores such as Dillard's, Macy's, JC Penney and Sears. The first phase of renovations includes upgrading the lighting, opening existing skylight coves and replacing ceilings and flooring. The project is slated to be complete before the holiday shopping season. C.M. Architecture is providing architectural services for the assignment.
LUFKIN — Marcus & Millichap has brokered the sale of the 18,638-square-foot Town South Center, located at 103 N. Brentwood Drive in Lufkin. James Bell of Marcus & Millichap's Houston office represented the seller, a developer, in the transaction. The property is shadow-anchored by a Walmart Supercenter and a Sam's Club.
FORT COLLINS, COLO. — Foothills Mall, a 753,000-square-foot, enclosed super regional mall in Fort Collins, has sold to a joint venture formed by affiliates of Walton Street Capital and Alberta Development Partners. The purchase price was not disclosed. The mall, which is anchored by Macy’s and Sears, will undergo a major revitalization.
PENSACOLA AND ORLANDO, FLA. — IRA Capital has purchased two Florida shopping centers totaling 63,000 square feet for $9 million. The 49,800-square-foot Fairfield Crossings in Pensacola is fully leased to Ross Dress for Less, Office Depot and T-Mobile. Alvin Mansour with Marcus & Millichap represented the seller in the transaction, and AZUR Realty Partners, an affiliate of IRA, represented the buyer. In Orlando, the company acquired a 10,500-square-foot center that is fully leased to Verizon Wireless and Mattress Firm. Jeff Winokur of JH Winokur represented the seller in the transaction. AZUR Realty Partners represented the buyer.
MUSKEGON, MICH. — Quantum Real Estate Advisors has arranged the $1.1 million sale of a 6,500-square-foot O'Reilly's Auto Parts, located at 3082 N. Henry St. in Muskegon. The building is a former Blockbuster store that was retrofitted for O'Reilly's in 2011. The auto parts retailer has 14 years remaining on its lease. Jordan Kaufman of Quantum Real Estate Advisors represented the seller in transaction. The buyer is a private individual from Texas.
SAN ANTONIO — Henry S. Miller Brokerage has arranged the sale of a 45,000-square-foot retail property, located at 8202 Sand Pebble Drive in northwest San Antonio. The property was once a 84 Lumber Store. The buyer, Dallas-based Entech Sales and Service, will use the property as its San Antonio office, which will open in the fall. Dan Spika of Henry S. Miller's Dallas/Fort Worth office represented the buyer in the transaction.
SANTA MARGARITA, CALIF. – An 8,309-square-foot retail building in the Orange County submarket of Santa Margarita has sold to Fadco Enterprises for $2.6 million. It is located at 28672 Deerpath Road. Kevin Quick of Lee & Associates’ Newport Beach office represented Fadco. The seller, the Noel S. Schurrman Trust, was represented by Colliers International.
ORANGE CITY, FLA. — Inland Real Estate Acquisitions has purchased the 119,894-square-foot Saxon Crossing, a shopping center located in Orange City, for $20.73 million. Hobby Lobby anchors the center, which is fully leased to tenants including LA Fitness, Papa John's and Jimmy John's. The buyer was self-represented by Lou Quilici.