NORTHRIDGE, CALIF. – Both the Yard House and Elephant Bar have signed on at the Northridge Fashion Center. The Yard House will lease more than 10,000 square feet, while Elephant Bar will occupy 6,700 square feet. Both are scheduled to open in late fall 2012.
TAMPA, FLA. — Orlando, Fla.-based Roger B. Kennedy, Inc. has broken ground on a $9 million, 57,025-square-foot LA Fitness, located at 301 S. Dale Mabry Hwy. in Tampa. In addition, the firm will construct a 292-space, 97,787-square-foot parking garage. St. Petersburg, Fla.-based ARC3 Architecture designed the property, which is slated for completion in November 2012.
ST. LOUIS — Swansea, Ill.-based Holland Construction Services has completed work on the new Mungenast Hyandai, located at 649 Dunn Rd. in St. Louis. HDA Architects designed the $7 million facility and waiting area, and includes an auto showroom and waiting area. Mungenast Automotive Family owns the property.
WESTLAND, MICH. — Marcus & Millichap has arranged the $3.7 million sale of a 10,482-square-foot retail building, located at 37101 Warren Rd. in Westland. The property is net leased by Golden Corral. Mike McClain of Marcus & Millichap's Tucson office represented the seller, an individual trust and limited liability company. Alvin Mansour of Marcus & Millichap's San Diego office secured the buyer, a limited liability company.
ARLINGTON — Irvine, Calif.-based TNP Strategic Retail Trust has acquired the 62,676-square-foot Ensenada Square, a grocery-anchored shopping center in Arlington. The property is 93 percent leased to tenants including Kroger, Family Dollar and Fort Worth Community Credit Union. Ensenada Square is TNP's 14th acquisition. Brandon Beeson of Edge Realty's Dallas/Fort Worth office represented both parties in the transaction.
CULPEPER, VA. — The 95,477-square-foot Culpeper Marketplace Shopping Center, located at the intersection of James Madison Highway and Nalles Mill Road in Culpeper, has sold. The property is 98 percent leased to tenants, which include Kohl's, Famous Footwear, Anytime Fitness and Buffalo Wild Wings. Bob Sanner of Cassidy Turley's San Francisco office represented Menomonee Falls, Wis.-based Continental Properties Co., the seller, in the transaction. The buyer was Culpeper Marketplace Associates, an affiliate of Virginia Beach, Va.-based Wheeler Interests.
ST. PETERSBURG, FLA. — BB&T Bank has sold the 19,045-square-foot San Martin Village Retail Center, located at 10690 Gandy Blvd. in St. Petersburg, to Hamza Investment Properties for $1.4 million. Dennis Bush, Frank Boullosas and Elliott Ross of Clearwater, Fla.-based The Ross Realty Group represented the seller in the transaction. Michelle Smith of Tampa, Fla.-based Ocean Blue Realty represented the buyer.
ST. ANTHONY AND WOODBURY, MINN. — Inland Real Estate Corp. recently purchased two retail properties in the Minneapolis market for a total of $46.6 million. In a joint venture, Inland and PGGM acquired Silver Lake Village, a grocery-anchored shopping center in St. Anthony — an inner suburb of Minneapolis — for $36.3 million. On the same day, Feb. 24, Inland also acquired Woodbury Commons, a shopping center in Woodbury, for $10.3 million. Silver Lake consists of 159,303 square feet and is anchored by Cub Foods. Woodbury Commons totals 116,197 square feet and its tenants include Outback Steakhouse, Applebee's and Payless ShoeSource.
CINCO RANCH — Regency Centers has commenced construction on the 260,000-square-foot Southpark at Cinco Ranch, a neighborhood retail center located at the intersection of Westpark Tollway and Spring Green Boulevard in Cinco Ranch. Regency partnered with Excel Commercial Real Estate to begin construction on Phase I, which includes a 101,497-square-foot Kroger, a 71,680-square-foot sporting goods retailer, 29,920 square feet of small shop space and seven outparcels. The project is 72 percent preleased and anchors are slated to open in the fourth quarter of 2012. Phase II will add 57,000 square feet.
WESLACO — Colliers International has brokered the sale of the 178,618-square-foot Valley Crossing Shopping Center, located in Weslaco. The retail center is fully leased to tenants including J.C. Penney, T.J. Maxx, Petco and Olive Garden. Ryan West of HFF's Houston office represented the buyer, Capcor Weslaco Ltd., in the transaction. Christopher Winters of Colliers' Houston office represented the seller, SDI Weslaco Holdings.