LOS ANGELES — La Mancha/Cal-Asia Development Company has been named 7-Eleven’s preferred developer in the Southern California region. The convenience store has hired La Mancha to build 150 stores over the next three years. The company will target locations from San Luis Obispo to San Diego, and from Santa Monica to the Inland Empire and even Las Vegas. La Mancha is looking primarily for ground-up opportunities for build-to-suits, as well as both C-store and liquor store conversions. It is also looking for straight leasehold interests for free-standing stores, gasoline stores or end caps in multi-tenant centers. La Mancha/Cal-Asia will work in tandem with 7-Eleven’s real estate team.
COLUMBUS, GA. — St. Paul, Minn.-based AEI Capital Corp. has acquired an 8,300-square-foot Family Dollar property, located in Columbus, for $1.55 million. Family Dollar Stores Inc. has signed a long-term lease for the property. AEI was self-represented by Marni Nygard in the transaction, and Bryan Belk of Franklin Street's Atlanta office represented the undisclosed seller.
CHARLOTTE, N.C. — Marcus & Millichap has arranged the $1.02 million sale of the 49,688-square-foot Penny Pinchers Self-Storage, located at 124 Dorton St. in Charlotte. Michael Mele of Marcus & Millichap's Tampa, Fla., office, along with Allen Smith of the firm's Charlotte office and Stacey Gorman of the firm's Atlanta office, represented the seller, a limited liability company, in the transaction. Mele and Gorman also produced the buyer, a private investor.
BAYONNE, N.J. — Inland Real Estate Acquisitions has purchased Bayonne Crossing, a 356,647-square-foot shopping center in Bayonne for $75.2 million. Located just off the Hudson River, the acquisition includes a 91,109-square-foot Walmart and a 146,583-square-foot Lowe's Home Improvement. The newly built center was completed in 2012. Additional tenants include Michaels and Dollar Zone. Joe Cosenza of The Inland Real Estate Group Inc. represented the buyer in the deal. HFF represented the seller.
HOUSTON — Qdoba Mexican Grill will soon open a 2,667-square-foot restaurant in the 58,279-square-foot HEB Clear Lake shopping center, located near the intersection of Bay Area Boulevard and El Camino Real in Houston. H-E-B Grocery anchors the center, which is currently 89 percent leased to tenants including Papa John's Pizza, Darque Tan, State Farm Insurance and GNC. Ryan Orr of Houston-based Read King represented the tenant in the lease transaction. The landlord, Henry S. Miller Brokerage, was self-represented by Shawn Ackerman and Jason Du of the firm's Houston office.
STARKVILLE, MISS. — St. Paul, Minn.-based AEI Capital Corp. has purchased the 19,000-square-foot Tractor Supply, located at 1301 Greta Ln. in Starkville, for $2.85 million. Tractor Supply Co. has a long-term lease for the single-tenant building. AEI was self-represented by Ian Harrison in the transaction.
HUNT VALLEY, MD. — Walker & Dunlop has secured $90 million in acquisition financing for the 766,256-square-foot Hunt Valley Towne Center, a shopping center located on York Road in Hunt Valley. Wegman's anchors the center, which includes Chipotle, Chico's, California Pizza Kitchen, Caribou Coffee and M&T Bank. Tyler Blue and Paul Wallace of Walker & Dunlop's Bethesda, Md., office arranged the 8-year, interest-only loan through American International Group.
CHESTERFIELD, MO. —Taubman Centers Inc. has broken ground on Taubman Prestige Outlets Chesterfield, located in the western St. Louis suburb of Chesterfield. The open-air shopping center will include 450,000 square feet of retail with more than 100 stores. In a statement, Taubman said demand has been positive and it has firm commitments from most major retailers. The company expects the project will generate 750 construction jobs and employ about 1,200 people when the mall opens. The center will include a mix of high-end, fashion-focused designer outlets, popular favorites and a food court. The mall is scheduled to open in the fall of 2013.
PETERSBOROUGH, N.H. — Petersborough-based Eastern Mountain Sports, one of the nation's largest outdoor retailers, plans to open three new stores in the Northeast. An existing location at the Plaza at Buckland Hills in Manchester, Conn. is moving approximately 12 storefronts down the plaza to an 18,831-square-foot space next to PetSmart. The store is expected to open April 27. The retailer will also open a 20,442-square-foot store at 301 Maine Mall Rd. in South Portland, Maine on May 11. Construction is currently underway for a new 13,013-square-foot Eastern Mountain Sports Store in the North Village Shopping Center in New Brunswick, N.J. The store is scheduled to open June 15.
NEW YORK CITY — Equity One has been selected to redevelop an 80,000-square-foot site along the Broadway retail corridor in the Bronx. The firm will spend $54 million to construct a new, 133,000-square-foot retail development and parking facility on the site in the Kingsbridge area. Equity One plans to look for four national retail tenants for the space. The developer will purchase the site from the city for $7.5 million, with construction expected to begin in early 2013 and be completed within two years. Equity One was selected as developer after responding to a request for a proposal from the New York Economic Development Corp. in August 2011.