JERICHO, N.Y. — Airport Plazas, a specialized developer and operator of airport retail plazas, has signed a 25-year lease to redevelop about six acres of property at the entrance of JFK Airport. The project includes a 20,000-square-foot retail building, about 200 parking spaces and a fueling center. The $11 million project is scheduled to be completed this September.
NEW YORK CITY — A 630,000-square-foot enclosed fashion mall will break ground in the Bronx this spring, with the opening slated for late 2013 or early 2014. Prestige Properties plans to develop a three-level, $270 million mall located on an empty parcel at the Bay Plaza Shopping Center. The development will be anchored by Macy's, which is slated to occupy 160,000 square feet. The mall will also be physically connected to an existing JC Penney store at the Bay Plaza Shopping Center.
HOUSTON — Marcus & Millichap has brokered the sale of the 10,300-square-foot North Main Shopping Center, located at 2124 N. Main St. in Houston. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction.
TEMPE, ARIZ. – The retail portion of the three-building Crossroads of Tempe development has sold to a single-asset entity of Westwood Financial Corp. for $1.3 million. The sellers, a joint venture between ViaWest Group and Southwest Value Partners, originally purchased the three assets in July 2011 for $4,055,000. The just-sold retail portion contains a 15,460-square-foot retail center located at 7707 S. Kyrene Road. It was built in 2006 and is currently 54 percent leased. The center also contains two adjacent Class A office buildings totaling 96,600 square feet. The joint venture was represented by Grubb & Ellis in this sale.
SALEM, N.H. — Clarion Partners has sold the Village Shoppes of Salem shopping center in Salem for $39.9 million. The 170,270-square-foot shopping center is fully occupied with tenants such as Best Buy, Sports Authority and PetSmart. Chris Angelone, Jim Koury, Bill Moylan, Nat Heald and Josh Klimkiewicz of CBRE represented the seller in the transaction. They also procured the buyer, Route 28 Salem LP.
FAIRFIELD, CONN. — Allonge Holding LLC has acquired 1657 Post Rd. in Fairfield for $1.9 million. The company plans to lease the 6,800-square-foot-property to Flash Pointe Dance, a dance studio, and Glitter & Grime, a sportswear company. Bruce Wettenstein of Vidal/Wettenstein represented the buyer in the transaction. Jack Lipson of Westport Real Estate represented the seller, 1657 Post Road LLC.
THE WOODLANDS — Houston-based J. Beard Real Estate Co. has arranged the sale of a 1.21-acre pad site that will house a Japanese restaurant, located at the intersection of Technology Forest Boulevard and Research Forest Drive in The Woodlands. Tim Maczko of J. Beard represented the seller, Everson Developments, in the transaction. The buyer, a private partnership, currently owns and operates two Sakekawa Japanese Steak House & Sushi Bar restaurants.
JACKSONVILLE, FLA. — A 65,296-square-foot shopping center, located at 31 Arlington Rd. S. in Jacksonville, has been sold for $2.2 million. Winn Dixie and Pinch-A-Penny anchor the center. Bryan Bartlett and Lee Stine of Jacksonville, Fla.-based Grubb & Ellis/Phoenix Realty Group represented the buyer in the transaction.
WYOMISSING, PA. — Lakewood, N.J.-based Paramount Realty Services has purchased Berkshire Square, a 112,119-square-foot shopping center in Wyomissing, for $16.6 million. The property, which was 97 percent occupied at the time of sale, is anchored by Redner's Warehouse Markets and a 23,114-square-foot staples. Mark Tyler and Dean Zang of Marcus & Millichap represented the seller, WP Realty of Bryn Mawr, Pa. They also represented the buyer.
SUGAR LAND — Marcus & Millichap has arranged the $9.49 million sale of the 96,623-square-foot Woodbridge Shopping Center, located at 11543-11581 State Hwy. 6 S. in Sugar Land. James Bell of Marcus & Millichap's Houston office represented the seller, a partnership, and procured the buyer, a REIT, in the transaction. Woodbridge Shopping Center is anchored by Kroger on a long-term ground lease.