WYLIE — B&B Theatres plans to open a 12-screen, 58,000-square-foot movie theater, located at FM 544 and Country Club Road in Woolbridge, a master-planned community in Wylie. The theater will feature stadium seating, leather rocker-style seats, Christie digital projection and 3D capabilities in some theaters. Completion is slated for November 2012.
FORT WALTON BEACH AND DESTIN, FLA. — Columbus, Ga.-based Victory Real Estate Investments has purchased two shopping centers in Florida in two separate transactions for a total of $34.4 million. Victory bought the 300,194-square-foot Uptown Station, located at 99 Eglin Pkwy. in Fort Walton Beach, from Destin-based Crystal Beach Development for $26.9 million. Winn Dixie, Ross Dress for Less, West Marine and Party City anchor the center, which is 97 percent leased. Chris Abbott of Destin Real Estate Co. represented the seller in the transaction. Additionally, Victory acquired the 84,682-square-foot 98 Palms in Destin for $7.5 million at a foreclosure auction. Winn Dixie anchors the center.
ST. SIMONS ISLAND, GA. — A joint venture between Atlanta-based Paces Properties and Somera Capital Management has purchased the 108,000-square-foot Retreat Village Shopping Center, located in St. Simons Island, from RVMC for $8 million. Fred Freyer of St. Simons-based Don Wright & Associates represented the buyer in the transaction. John Hampton of White Oak Real Estate Advisors arranged joint venture equity for the transaction. The joint venture will invest approximately $1 million for renovations at the center, which will include a new facade, updated exterior lighting and the addition of decorative awnings and architectural pilasters.
ALLIANCE, OHIO — Chipotle Mexican Grill has signed a 2,250-square-foot lease, located at the corner of State Street and Western Avenue in Alliance, to build a new restaurant. Cleveland-based Goodman Real Estate Services Group represented the tenant in the lease transaction. Completion is slated for October 2011.
BROOKLINE, MASS. — Boston-based EagleBridge Capital has arranged $11.6 million in financing for a two-story, 36,350-square-foot retail property located at 1285 Beacon St. in Brookline. The property features a granite facade with two levels of underground parking. The property's tenants include Staples, Bodyscapes, a fitness center and The Meat House. Brian Sheehan and Ted Sidel of EagleBridge arranged the mortgage through a leading commercial real estate fund.
FRISCO — NorthMarq Capital has arranged $2.93 million in first mortgage financing for the 18,160-square-foot Lakes Plaza, a retail center in Frisco. Ronald Reese of NorthMarq's Dallas office arranged the financing based on a 10-year term and a 20-year amortization schedule through StanCorp Mortgage Investors.
COLONIAL HEIGHTS, VA. — Cushman & Wakefield — Thalhimer has arranged the $1.1 million sale of a 22,657-square-foot retail property, located at 1823 Southpark Blvd. in Colonial Heights. CHVA Properties purchased the former Circuit City building from 1823 Southpark LLC. Connie Nielsen of Cushman & Wakefield — Thalhimer represented the seller in the transaction.
ROCKVILLE, MD. — Ellwood Thompson's has leased 15,000 square feet with Federal Realty Invesment Trust to open Dawson's Market at the 180,000-square-foot Rockviile Town Square, located at 200 E. Middle Ln. in Rockville. The store is slated to open in spring 2012.
CHICAGO — Meridian Capital Group has secured a $66 million senior mortgage on behalf of Baker Development Corp. to refinance its 178,700-square-foot shopping center, located at 2100-2196 N. Elston Ave. in Chicago. Jacob Schmuckler and Ronnie Levine of Meridian's New York City office arranged the 5-year financing, which was provided by a balance sheet lender.
MARS, PA. — The Shoppes at Adams Ridge, a 49,060-square-foot, grocery-anchored shopping center at 300-920 Adams Ridge Rd. in Mars, has been sold for $10 million. McGinnis Sisters, a specialty grocery store, anchors the center. Steven Siegel of Marcus & Millichap's Manhattan office represented the undisclosed seller, while Erin Patton, Scott Wiles and Craig Fuller represented the undisclosed buyer. Tenants in the shopping center include Dairy Queen, Citizens Bank, McGinnis, Great Clips, Pizza Hut, Stonepepper's Grill and Verizon Wireless.