Retail

SEASONS 52 PLAN NEW RESTAURANT IN EDISON

by admin April 13, 2012

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.

April 13, 2012

TRADEMARK, IMI PURCHASE TWO RETAIL CENTERS

by admin April 13, 2012

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.

April 13, 2012

Retail Southeast

FOOD CITY SELLS FOR $4.7M

by admin April 12, 2012

MORRISTOWN, TENN. — A 47,600-square-foot Food City, located at 4100 Cool Springs Rd. in Morristown, has sold for $4.7 million. Food City has more than 10 years remaining on its lease for the stand-alone store. Nancy Miller and Sheree Strome Berk of Atlanta-based Bull Realty represented the seller, Foodmor Associates, in the transaction. Tom Kallenbach represented the buyer, B.B. & J. Holdings.

April 12, 2012

Retail Southeast

NORTHMARQ SECURES $4.81M RETAIL LOAN

by admin April 12, 2012

LITHIA, FLA. — NorthMarq Capital has arranged $4.81 million in first mortgage refinancing for the 59,895-square-foot Shoppes of Fishhawk, located at 16751 Fishhawk Blvd. in Lithia. Sweetbay Supermarket anchors the center. Alison Williams of NorthMarq's Tampa, Fla., office arranged the 10-year loan with a 25-year amortization on behalf of the Tampa-based borrower through UBS — CMBS Platform.

April 12, 2012

Midwest Retail

BALLY AGREES TO SELL 39 FITNESS CLUBS

by admin April 12, 2012

CHICAGO — Chicago-based Bally Total Fitness has agreed to sell 39 fitness clubs to Blast Fitness Group LLC, in eight markets including St. Louis and Milwaukee. Blast plans to honor all Bally memberships associated with these markets. The transaction is expected to close May 1. J.P. Morgan Securities LLC acted as exclusive financial advisor to Bally.

April 12, 2012

Midwest Retail

SHERWIN WILLIAMS SELLS FOR $1.6M

by admin April 12, 2012

LAKEWOOD, OHIO — Visconsi Cos. has sold a freestanding Sherwin Williams store in Lakewood for $1.6 million. Sherwin has approximately 9 years remaining on its 15-year lease. Mark Luttner of Luttner Real Estate Services represented the seller in the transaction. He also represented the buyer.

April 12, 2012

Northeast Retail

BOTTOM DOLLAR OPENS NEW PHILLY STORE

by admin April 12, 2012

PHILADELPHIA — Bottom Dollar Food has opened its 4th Philadelphia store at 7900 Roosevelt Blvd. The 19,600-square-foot store is located in the former Ilona Keller's Dugan Banquet Hall, which was built in the early 1960s. Soloff Realty & Development Inc. developed the property. Matthew Shanahan of Colliers International represented the landlord and Frameco Real Estate represented the tenant. Based in Salisbury, N.C., Bottom Dollar operates 1,650 grocery stores in 16 states.

April 12, 2012

Midwest Retail

CONSTRUCTION COMPLETE ON MUNGENAST HYUNDAI

by admin April 11, 2012

HAZELWOOD, MO. — Construction is complete on a new $6 million auto dealership for Mungenast Hyundai in Hazelwood, located north of St. Louis. The new 37,500-square-foot dealership will be used for automobile sales, repair, storage and detailing. The building's features include a coffee bar and a drive-thru space for customers to drop-off and pick-up cars. Swansea-based Holland Construction Services built the facility and the architect was Chesterfield-based HDA Architects.

April 11, 2012

Midwest Retail

FITNESS COMPANY EXPANDS SPACE

by admin April 11, 2012

FORT WAYNE, IND. — Paragon Fitness LLC has signed a lease expansion for 1,539 square feet at its CrossFit Training facility at 829 Lawrence Dr. in Fort Wayne. John Caffray of NAI Harding Dahm represented Paragon in the transaction.

April 11, 2012

Retail Texas

GREENWAY COMMONS IN HOUSTON SELLS

by admin April 11, 2012

HOUSTON — Trammell Crow Co. has partnered with Prudential Real Estate Investors and The Morgan Group to sell the 253,000-square-foot Greenway Commons, a Class A super-regional power center located at 3838 Richmond Ave. in Houston. The property is currently 96 percent occupied by tenants including Costco Wholesale, LA Fitness, Iberia Bank, Buffalo Wild Wings, Panda Express and Memorial Hermann Healthcare System. Phoenix-based Cole Real Estate Investments purchased the property, and Houston-based CDA Architects designed the facility.

April 11, 2012

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