PHILADELPHIA — Pennsylvania Real Estate Investment Trust (PREIT) has announced that JC Penney, Nordstrom Rack, Bravo Cucina Italiana and Forever 21 will join The Cheesecake Factory to occupy 190,000 square feet of space formerly occupied by Strawbridge’s at Willow Grove Park in Philadelphia. The JC Penney will occupy 114,000 square feet on the first and second levels and is set to open in fall 2012; Nordstrom Rack will occupy 41,000 square feet on the third level and is expected to open in spring 2012; Bravo Cucina Italiana will occupy 7,500 square feet on the third floor and is slated for a fall 2011 opening; and the two-story Forever 21 will occupy 17,000 square feet at its new location. Willow Grove is comprised of 1.2 million square feet and its tenants include Bloomingdale’s, Coach, J. Crew, Jos. A. Bank and Sonoma.
DALLAS and PLANO — John T. Evans Co. has negotiated Coffee House Café’s purchase and Duke’s Original Roadhouse’s lease. Coffee House has purchased a 5,000-square-foot building at 6150 Frankford Rd. in Dallas. John T. Evans’ Mike Sandel and Paul Vernon negotiated the transaction. Duke’s has leased 6,400 square feet of space at 3314 N. Central Expressway in Plano. John T. Evans’ Vernon, Sandel and Taylor Roberts negotiated the transaction.
WORTHINGTON, OHIO — Worthington Square Venture has broken ground for the redevelopment of the 22-acre The Shops at Worthington Place, located at the intersection of High Street and Wilson Bridge Road in Worthington. The property will include a 168,000-square-foot shopping center, three outparcels and a separate 67,000-square-foot Kroger Fresh Fare. Completion is slated for the second quarter of 2012.
RICHMOND, IND. — Quantum Real Estate Advisors has arranged the $4.77 million sale of a 30,983-square-foot, single-tenant Best Buy located in Richmond Village Shopping Center in Richmond. Chad Firsel of Quantum represented the buyer and the seller in the transaction.
CHERRY HILL, N.J. — Max Span Real Estate & Auction Co. has sold a 54,000-square-foot retail center in Cherry Hill for $1.68 million at auction. The property is located at the Routes 70 and 154 intersection and includes a former Pathmark supermarket and has 1,109 feet of frontage, 290 parking spaces and six entrances.
LAS VEGAS – An auto dealership situated at 6770 Redwood Street in Las Vegas has been sold to B.G.D., LLC, for $18.5 million. The 86,270-square-foot dealership also contained a service and collision center. Grant Traub of Colliers International represented the seller, Thomas Saitta and Alice M. Saitta, who are trustees of the Saitta Family Trust.
GAYLORD, MICH. — The 189,000-square-foot Pine Ridge Square in Gaylord has been purchased by Birmingham, Mich.-based Robert B. Aikens & Associates. Major tenants include Big Lot's, Dunham's, Bath & Body Works, GNC, Maurice's, Hobby Lobby and Payless Shoe Source.
HUNTINGTON, N.Y. — Toronto-based RioCan Holdings has purchased a Class A, 116,221-square-foot shopping center for $40.2 million in Huntington on Long Island. The property is 100 percent occupied anchored by Stop & Shop and Best Buy. Kris Cooper, Margaret Caldwell, Dave Wojciechowski and Dan Zatloukal of Jones Lang LaSalle brokered the transaction.
NEWARK, N.J. — Marcus & Millichap has facilitated the $3.3 million sale of the 12,000-square-foot McCarter Plaza in Newark. Ben Sgambati and Alan Cafiero of Marcus & Millichap’s New Jersey office represented the seller ad procured the buyer in the transaction. McCarter Plaza sits on 1.03 acres on Route 21 and is 100 percent leased.
AUSTIN — New York-based ATCO Properties & Management has purchased the 99,000-square-foot Crossroads Center in Austin for $14.25 million. The shopping center is 70 percent leased to tenants Bennihana, Chili’s and Cycle Gear. Lance Morris of The Weitzman Group represented Crossroads and Ryder Jeans of Weitzman represented ATCO in the transaction. Crossroads is the latest purchase in ATCO’s City Center Real Estate Joint Venture Program.