FAIRVIEW — The Village at Fairview is adding 50,000 square feet of merchants and restaurants to its tenant roster, including: Old Navy (17,000 square feet) Nasr Bros. Jewelers (1,600 square feet) Versona Accessories (7,819 square feet) Zoe's Kitchen (3,400 square feet) La Duni Latin Kitchen (6,965 square feet) Sushi Awaji (6,000 square feet) Down Under (7,433 square feet) The MGHerring Group represented the Village at Fairview in all the above transactions. Not every tenant had representation, but The Retail Connection represented Zoe's Kitchen, Dunhill Partners represented La Duni Latin Kitchen, Grubb & Ellis represented Down Under and Beam Real Estate represented Sushi Awaji.
Retail
HENDERSON, NEV. — Mammoth Henderson Center, a 91,636-square-foot office and retail center in Henderson, has sold to Henderson I LLC for $9.5 million. The property was built in 2009, and is currently 40 percent occupied. This was an REO sale. Tom Naseef of Distinct Real Estate Advisors represented both the buyer and the seller, SA California Group, in this transaction.
WEST SAN JOSE, CALIF. — Sunflower Farmers Market has signed a long-term lease for 32,952 square feet inside the West Valley Shopping Center in West San Jose. The store is scheduled to open in fall 2012. Sunflower opened its first California-based store in Roseville earlier this year. It is set to open another outpost in Modesto, and three more stores in Silicon Valley in 2012. Sunflower was represented by James Chung and Patrick McGaughey of Terranomics Retail Services.
DECATUR, GA. — The 10,125-square-foot CVS/pharmacy, located at 4037 Glenwood Rd. in Decatur, has sold for $2.57 million. CVS/pharmacy has a 20-year lease on the property with approximately 8.5 years of the original term remaining. Dan Cooper of Cleveland-based The Cooper Commercial Investment Group represented the seller, a private East coast company, and procured the buyer, a Texas-based private group.
RALEIGH, N.C. — Frank Relihan of NorthMarq Capital's Washington, D.C., office has arranged $14 million in acquisition financing for the 518-bed University Suites, an off-campus student housing property located at 2190 Ocean Reef Pl. in Raleigh. The property is near North Carolina State University. The 10-year loan has a 30-year amortization schedule and was provided by AmeriSphere Multifamily Finance.
NILES, ILL. — The Missner Group has completed a 40,000-square-foot build-out for the new franchise location of Sky High Sports, located at 6424 Howard St. in Niles. The company built out the existing space to meet the requirements of Sky High Sports' trampoline and entertainment activities. The facility features two trampoline courts, a dodge ball court, a kids' court and two foam pits.
NEW YORK CITY — General Growth Properties Inc. has refinanced its Staten Island Mall for $273 million. The loan is a 12-year fixed rate mortgage, which replaces a $273 million loan that was scheduled to mature in October 2015. The new financing removes $125 million of corporate recourse associated with the first loan.
PLANO — Just Fitness 4U has leased 29,460 square feet of anchor space in Towne Square Shopping Center at 910 W. Parker Rd. in Plano. The location is Just Fitness' sixth location in the Dallas-Fort Worth market. Marc Marrocco, Perren Gasc and Beau Barkerding of The Weitzman Group's Commercial Retail Division represented Just Fitness 4U. The Weitzman Group is representing Just Fitness 4U in its expansion in the Dallas-Fort Worth area. The landlord, Dunhill Partners, was self-represented.
ARLINGTON — ITT Educational Services Inc. has signed a 30,000-square-foot lease renewal and expansion at 551 Ryan Plaza Dr. in Arlington. ITT currently occupies 100 percent of the 23,500-square-foot building, and the agreement gives ITT an additional 6,500 square feet. The expansion project is expected to be complete by the end of the year. Chris Wright of Grubb & Ellis represented the landlord, Bridge Parkway Associates, while Bob Ikel of IC3 Real Estate represented ITT.
LAS VEGAS — LBG Realty Advisors, LLC, in partnership with Blue Vista Sponsor Equity Fund II, LLC, an affiliate of Blue Vista Capital Management, LLC, has acquired the Southwest Marketplace in Las Vegas. The Class A, grocery-anchored shopping center contains 118,284square feet of space, including a 65,400-square-foot Smith’s Food and Drug Store and a Smith’s Gas. Smith’s was included in the acquisition. The center was 85 percent leased at the time of closing. The acquisition also includes two completed building pads that can accommodate an additional 68,000 square feet of development. LBG will be leasing the property, and is in negotiations now with prospective anchor tenants for the large development pad. It is also in talks to fill the vacant spaces and small development pad. The development should be completed in 2013.