MANCHESTER, N.H. —Linear Retail Properties has acquired a 9,870-square-foot shopping center at 926-952 South Willow St. in Manchester for $4.3 million. The center is fully leased to four tenants: Chipotle Mexican Grill, Mattress Giant, U.S. Cellular and Hannoush Jewelers. Rich Rostoff of Spectra Realty represented Linear Retail in the deal. Martin O'Boyle was the seller.
WOODWAY — A 14,280-square-foot retail property leased to Walgreens through 2030, located on a 1.8-acre parcel in Woodway, has been purchased for $4.75 million. New Hope, Pa.-based National Net Lease Realty represented the seller, a private investor from California, in the transaction. The buyer was also a private investor from California.
LEWISVILLE — The approximately 24,518-square-foot Market at Valley Parkway, a community retail center located at the northeast corner of Round Grove Road and Valley Parkway in Lewisville, has been purchased. The retail center features tenants including Great Clips, The UPS Store, State Farm Insurance, Subway, H&R Block, Kumon Learning Center, Southfork Dental, Edward Jones and Design Floors. The center is also shadow-anchored by a 62,000-square-foot Tom Thumb. The Weitzman Group/Cencor Realty Services represented the buyer, Lewisville Grove Parkway, in the transaction.
NORCO, LAKE ELSINORE, CALIF. — Hanley Investment Group Real Estate Advisors has sold two Inland Empire-based strip centers for more than $9 million. This includes the 12,835-square-foot Marketplace on Hamner in Norco that was sold to Agins Development Corporation, and the 34,850-square-foot Winston Plaza in Lake Elsinore that was acquired by Fan Family Trust. Agins was represented by Woodrow Harpole of Calvert Properties. Fan Family Trust was represented by Richard Lee of R&L Properties-Cerritos Inc. Hanley’s William B. Asher and Patrick G. Kent represented the Marketplace on Hamner seller, Marketplace on Hamner, LLC. Asher and Jeremy S. McChesney also represented the Winston Plaza seller, Palm Lake Properties, LLC.
PETALUMA, CALIF. — Target Corporation has purchased 10 acres at the site of the East Washington Place shopping center in Petaluma. The company plans to develop a 140,000-square-foot store at the site, which will serve as the center’s anchor. The site was purchased from Regency Centers, which is developing the new center. Construction began on East Washington Place earlier this year. It anticipates a summer 2013 opening.
MIAMI — Marcus & Millichap has arranged the $3.18 million sale of the 8,971-square-foot Bentley Bay Retail Condominiums, three retail condo spaces located at 520 W. Ave. in Miami's South Beach. Kirk Olson and Drew Kristol of Marcus & Millichap's Miami office represented the seller, a Sunrise, Fla.-based bank, in the REO transaction and procured the buyer, a Miami-based private investor.
LILBURN, GA. — Burlington Coat Factory has signed a 54,817-square-foot lease to occupy a former Publix at the 112,990-square-foot Killian Hill Center, located at 4051 Hwy. 78 in Lilburn. The Shopping Center Group represented the tenant in the lease transaction, and The Bedrin Organization represented Killian Hill Acquisition LLC, the landlord. The store is slated to open this fall.
MOUNT LAUREL, N.J. — Marcus & Millichap has arranged the $19 million sale of Town Square Shopping Center, an 88,380-square-foot center in Mount Laurel, located 16 miles east of Philadelphia. The center is anchored by a 64,225-square-foot ShopRite supermarket. Built in 1996, Town Square is located at 829 Union Mill Rd. Brad Nathanson of the Philadelphia office of Marcus & Millichap represented the seller, a New Jersey-based private developer, in the deal. He also represented the buyer, a New Jersey real estate firm.
EDISON, N.J. — Seasons 52, a fresh grill and wine bar, plans to open a new location in Edison in the spring of 2013. The two-story restaurant will be located at Menlo Park Mall on the corner of Parsonage and Lafeyette roads. The restaurant will contain 12,000 square feet and include five private dining rooms as well as a chef's table. Seasons 52 is known for its seasonally inspired menu, which changes four times per year. Nothing on the menu is more than 475 calories. The Edison restaurant will also feature a custom-built wine cellar and piano bar with live music nightly.
CORPUS CHRISTI — Fort Worth-based Trademark Property, in a joint venture with Institutional Mall Investors (IMI), has acquired the 15.53-acre Staples Center and the 3.81-acre Mt. Vernon Center, located directly across from La Palmera Mall in Corpus Christi. The retail centers will undergo a rebranding and renovation, ultimately being named The Shops at La Palmera and totaling approximately 200,000 square feet. The redesign and renovations are slated to begin in late 2012 with a 2013 completion. Trademark will lease and manage the center.