HUNTINGTON, N.Y., CENTEREACH, N.Y. — Harbor Freight Tools, a tool and equipment retailer, will open a 19,000-square-foot store in Huntington and a 16,000-square-foot store in Centereach. Both stores are slated to open in the first quarter, and will be the company's fourth and fifth locations in Long Island. The Huntington store is located at 301 W. Jericho Turnpike and the Centereach store is located in the town's main shopping corridor on Middle County Road. The landlords in each deal were represented in-house. Douglas Weinstein of the Long Island City office of Sholom & Zuckerbrot Realty represented Harbor Freight in the transactions.
Retail
SPRING — Houston-based Hunington Properties has brokered the sale of the 12,600-square-foot Meadowedge Shopping Center, located at Interstate 45 and Cypresswood Dr. in Spring. The property is fully leased and shadow-anchored by Lowes Home Improvement. Todd Carlson of Hunington Properties represented the seller, a California-based private investor, in the transaction. Carlson will retain management and leasing responsibilities for the property.
LOS ANGELES – PetSmart has signed a lease for 23,153 square feet at One Westside Shopping Center in Los Angeles. The 100,000-square-foot power center is fully leased with notable tenants like Starbucks, Panda Express, Marshalls and Baja Fresh. Parker Champion of Wilson Commercial represented the landlord, Champion Real Estate Companies, in this transaction.
PINECREST AND KENDALL, FLA. — Miami-based Aztec Group has secured two 10-year, refinance loans totaling $4.65 million for two shopping centers, located in suburban Miami, on behalf of the borrower, an affiliate of the Suchman Retail Group. The shopping centers include the 32,665-square-foot Dadeland North Shopping Center, located at the intersection of South Dixie Highway and Ludlam Road in Pinecrest, and the 42,700-square-foot Snapper Creek Shopping Center, located at the intersection of Southwest 72nd Street and Southwest 117th Avenue in Kendall. Jason Shapiro and Kevin Miliffe of Aztec Group arranged the non-recourse, fixed-rate loans.
CRANSTON, R.I. — The historic Garden City shopping center in Cranston will be renovated and expanded into a new 20,000-square-foot building. Owner Wilder Cos. says the multi-million dollar redevelopment will include breaking up retail spaces formerly held by larger tenants into mid-size and smaller specialty stores. Ann Taylor is among the new stores moving in, and Williams-Sonoma is expected to expand. Other current tenants have signed new multi-year leases including Starbucks and Hallmark. Construction is expected to begin this spring, and should be completed later this year.
NEW YORK CITY — Massey Knakal Capital Services has closed on a $2.5 million loan for an 8,000-square-foot retail property located on 86th Street in Brooklyn's Bensonhurst neighborhood. The 5-year, non-recourse loan carries a 4.7 percent interest rate. Morris Betesh of Massey Knakal Capital arranged the financing through an undisclosed lender.
ITHACA, DEER PARK, N.Y. — BJ's Wholesale Club plans to open three new stores this month, including two locations in New York: 1900 The Arches Circle in Deer Park, N.Y. and 400 Graham Rd. in Ithaca, N.Y. Each of the 85,000-square-foot stores will feature a BJ's cafe, optical department and Verizon Wireless kiosk. The stores will also hold a grand opening celebration Jan. 28 and Jan. 29. An additional store opening is planned in Gainesville, Va.
DALLAS AND FORT WORTH — 7-Eleven has purchased the retail interests of 51 ExxonMobil locations in the greater Dallas/Fort Worth area. The majority of the stores will be rebranded as 7-Eleven stores but maintain the Exxon gasoline brand. The stores' rebranding is slated to be completed by the end of 2012.
TEXAS AND OKLAHOMA — Conn's, a Dallas-based specialty electronics, appliance and furniture retailer, has plans to close five stores, located in Dallas (two), Houston, San Antonio and Edmond, Okla. After the closings, Conn's will have 64 total stores.
WESTMINSTER, COLO. — The Westminster Economic Development Authority (WEDA) has agreed to buy a 7.9-acre site at the former Westminster Mall that is currently occupied by Sears for $4.2 million. Sears will occupy the property until the end of June. The building will then be demolished to make way for the development of a 105-acre site. WEDA acquired the majority of this site back in May with the intention of turning it into an urban center.