TUALATIN, ORE. –– Progress Ridge TownSquare, a $100-million, 20-acre mixed-use, entertainment and shopping destination in Tualatin, has gained a handful of new tenants. The 325,000-square-foot center welcomed Ace Hardware, which occupies 13,000 square feet; Fulcrum Fitness, which will lease 3,100 square feet; Black Eagle Martial Arts, which will take 1,430 square feet; and Sweet Siren Boutique, which leased 1,300 square feet. Black Eagle expects to open in late January or early February. Fulcrum Fitness will debut in February. Gentle Dental, T-Mobile and Ava Roasteria also recently opened at Progress Ridge. These new tenants bring Progress Ridge’s occupancy rate to 90 percent.
ORLANDO, FLA. — The 7,527-square-foot former Bola Restaurant, located at 8148 International Dr. in Orlando, has sold for $2.7 million. The buyer plans to renovate the building and expand it to 8,500 square feet for a new Kobe Japanese Steakhouse restaurant. Completion is slated for May of 2012. Kevin O'Connor and Matt Cichocki of Maitland, Fla.-based NAI Realvest represented Brooklyn, N.Y.-based Hollywood Plaza Holdings, the seller, in the transaction. Jon Rose of Charles Wayne Properties' Maitland office represented Altamonte Springs, Fla.-based TC Holdings-International Drive, the buyer.
WILLOW GROVE, PA. — The Real Estate Equity Co. has acquired the 71,000-square-foot Willow Grove shopping center in Willow Grove for $14.6 million. The center is fully net leased to Best Buy, and 8,500 square feet of the shopping center is sublet to Pier 1 Imports. Kevin Mcleron of CBRE's Philadelphia office represented the buyer in the transaction. The seller was Goodman Properties.
AUSTIN — Dallas-based SRS Real Estate Partners has arranged the sale of the 7,550-square-foot Southcross Station, a shopping center located at 3601 W. William Cannon Dr. Jason Middlebrook of SRS Real Estate Partners' Austin office represented the seller in the transaction.
KATY — Houston-based My Fit Foods will open a 2,600-square-foot store in the 77,589-square-foot Highland Knolls Shopping Center, located at 1505-1565 S. Mason Rd. in Katy. The center is 90 percent leased to tenants such as Randalls, Washington Mutual, Skeeters, Quizno's Subs and AT&T. The store will be My Fit Foods' 17th location in the Houston area. Shawn Ackerman and Cyrus Chen of Henry S. Miller Brokerage's Houston office represented the landlord in the transaction.
LAS VEGAS – Vestarand its joint venture partner, Rockwood Capital, have received a $50-million loan for The District at Green Valley Ranch in Las Vegas. The JV had initially paid $79 million in all cash this past October to acquire the 384,107-square-foot retail center. The loan features a 4.4 percent fixed rate for five years.
ROSWELL, GA. — The 117,392-square-foot Centennial Village – Phase II, located at 2342 Holcomb Bridge Rd. in Roswell, has been sold for $14.6 million. Kohl's and Petco anchor the center, which is 99 percent leased. Whitney Knoll, Fred Victor and Mark Hillis of Newmark Knight Frank's Atlanta office represented M&J/Centennial, the seller, in the transaction. The buyer was Rothenberg Rosenfield.
WASHINGTON, D.C. — Marcus & Millichap Real Estate Investment Services has negotiated the $10.8 million sale of a 19,620-square-foot, two-tenant shopping center, located at 7000 and 7008 Marlboro Pike in Washington, D.C. The center is fully leased by Walgreens and Sherwin-Williams. Dean Zang, Mark Taylor, Derrick Dougherty, Christopher Munley of the Philadelphia office of Marcus & Millichap represented the seller in the transaction. They also procured the 1031 exchange buyer, a private investor from outside the market.
DALLAS AND FORT WORTH — Nebraska Furniture Mart has purchased four parcels of land, located south of Highway 121 and east of Plano Parkway in the Dallas/Fort Worth area, totaling 433 acres,to develop its fourth and largest store in the country. Larry Leon, Jonathan Cooper and Bob Moore of Venture Commercial Real Estate's Dallas office represented the buyer in the purchase of a 308-acre tract. The seller was Maharishi Global Development Fund. David Davidson Jr. of Venture's Dallas office and David Davidson Sr. of Davidson Real Estate helped Leon, Cooper and Moore in the purchase of the surrounding three parcels.
MIDLAND — Dallas-based Annandale Real Estate has purchased a 29,000-square-foot retail property formerly occupied by Circuit City, located at 4110 W. Loop 250 in Midland. The facility has been vacant for more than 2 years. Parker Carroll of Coldwell Banker's Lubbock office represented the buyer in the transaction. The seller, a bank, was represented by Lynn Cook of Odessa-based The Havens Group.