HOUSTON — Coldwell Banker Commercial United, Realtors has brokered the sale of the 21,096-square-foot Shadow Lake Shopping Center, located at 3531 and 3533 S. Dairy Ashford in Houston. Mark McGinley of Coldwell Banker represented the seller in the transaction. Gary Smith of Republic Central Realty represented the buyer, a private investor.
TEMECULA, CALIF. — A single-tenant Panera Bread in Temecula has sold to a private investor for $2,715,000. The 4,850-square-foot building was constructed in 2010 and is located at 41798 Nicole Lane. Patrick G. Kent of Hanley Investment Group Real Estate Advisors represented both the buyer and the seller, Creekside Retail Investors, LLC, in this transaction.
HANOVER, MD. — The Cordish Company has opened the $500 million, 330,000-square-foot Maryland Live! Casino, located at 7002 Arundel Mills Circle in Hanover. The casino includes 3,200 Las Vegas-style slot machines and electronic table games. Restaurants include Bobby's Burger Palace, The Cheesecake Factory, Phillips Seafood, Live! Market Buffet and Noodles and R Bar. Between July and October, Maryland Live! will also open Rams Head Center Stage, a concert venue, The Prime Rib, the Shop Live! retail store and an additional 1,550 slot machines and games.
CYPRESS, CALIF. — Chuze Fitness has signed a 10-year lease for 20,250 square feet of space at Cypress Plaza in Cypress. The lease is valued at $2.4 million. Cypress Plaza is located at 9851 Walker Street. Chuze Fitness was represented by Chad Iafrate of Cassidy Turley. The landlord, Broadmarket Plus II, LP, was represented by Kim Watson of Investment Concepts.
LEHIGH ACRES, FLA. — Marcus & Millichap has arranged the $4.9 million sale of the 74,315-square-foot Bealls and Save-A-Lot Center, a retail property located in Lehigh Acres. James Medefind and Michael Jaworski of Marcus & Millichap’s Tampa, Fla., office represented both the seller, a Texas-based limited liability company, and the buyer, a Florida-based private investor, in the transaction.
COLUMBUS AND MCDONOUGH, GA. — Franklin Street Real Estate Services has arranged the $3.2 million sale of two Georgia Family Dollar locations in Columbus and McDonough. Mac McCall and Bryan Belk of Franklin Street represented the seller, an Atlanta-based private developer, and the buyer, an undisclosed REIT, in the transaction.
ROUND ROCK — IKEA Round Rock, located along Interstate Highway 35 at University Boulevard, has finished its 54,000-square-foot expansion and now sits at approximately 306,000 square feet. Construction work began in October 2011 and the store has remained operational throughout the process. IKEA also added a three-story parking garage to offset the expansion extending into the existing parking lot.
DENVER — Le Creuset and Jonathan Adler have leased space at Fillmore Place, a 25,000-square-foot retail development in Denver. Le Creuset leased 1,528 square feet, while Jonathan Adler leased 2,892 square feet. Lisa Streidl of The Zall Company represented Le Creuset, while Erik Christopher of David, Hicks & Lampert Brokerage represented Jonathan Adler in these lease transactions. The landlord, Realty Management Group, was represented by Stuart Zall of The Zall Company.
BRAINERD AND BAXTER, MINN. — Eidco Construction will oversee a 4,700-square-foot interior fit-out for retailer rue21 at the Westgate Mall in Brainerd and Baxter. The project includes constructing a new storefront, interior partitions, electrical and light installation, the addition of a new washroom as well as completing graphics and signage. The fit-out is expected to be complete later this month.
KISSIMMEE, FLA. — Kimco Realty Corp. has sold the 120,699-square-foot Vine Street Square, a shopping center located at the intersection of U.S. 192 and Dyer Boulevard in Kissimmee, to Phillips Edison — ARC Shopping Center REIT for $13.65 million. The property is 97.6 percent leased to tenants that include Walmart Neighborhood Market, Office Max, Dollar Tree, Humana and Outback Steakhouse. Jim Michalak and Paul Bores of Plaza Advisors represented the seller in the transaction.
