HARKER HEIGHTS — Ross Stores will be opening a new 28,000-square-foot Ross Dress for Less store at the 650,000-square-foot Market Heights Shopping Center in Harker Heights. Other tenants include Target, Bed Bath & Beyond, Dick's Sporting Goods, Barnes & Noble, Old Navy, Ulta and Petco. Dallas-based Direct Development owns the property. Former Dallas Cowboy Troy Aikman serves as principal of the group.
DALLAS AND FORT WORTH — Dunkin' Donuts has partnered with former Dallas Cowboys quarterback Troy Aikman and Dallas Cowboys owner Jerry Jones to open 50 Dunkin' Donuts locations in the Dallas/Fort Worth area during the next 5 years. There are currently 19 restaurants in the north Texas area. Under the agreement, Dunkin' Donuts, Jones and Aikman will share ownership of the 50 new locations and 11 of the existing 19 locations. Dunkin' Donuts will operate all 69 locations, while Aikman, Jones and Dunkin' Donuts are jointly responsible for strategic planning, expansion and marketing.
CHICAGO — The former Giordano Jazz Dance studio in Chicago has sold to a private investor for $1 million. The buyer plans to redevelop the 17,340-square-foot building but provided no further details. Scott Maesel of the Chicago office of Sperry Van Ness represented both parties in the transaction.
SEDONA, ARIZ. — Tequa Festival Marketplace, a 54,068-square-foot distressed neighborhood center near Sedona, has sold to Baceline Investments, LLC from a lender for $4.1 million. This represents only 20 percent of the center’s original loan, which was $20.3 million. Tequa is currently 34 percent leased.
PRESCOTT VALLEY, ARIZ. — Dollar Tree has signed a lease for 9,000 square feet at the Prescott Valley Crossroads Shopping Center. The property is located at 5990 East State Route 69 in Prescott Valley. Notable retailers at the center include Home Depot, Hobby Lobby and Sam’s Club. Dollar Tree was represented by Kurt Kalocin with SRS Real Estate Partners. The landlord, YK Commercial Realty, was represented by Teale Bloom, Cameron Warren and Greg Laing of Phoenix Commercial Advisors.
GLENDALE, CALIF. — Glendale-based Public Storage has purchased a six-property self-storage portfolio for $42 million. The 517,000-square-foot portfolio consists of 5,500 storage units. The properties are located in Philadelphia; Wayne, N.J.; Randolph, Mass.; Montclair, Calif.; and Pompano Beach and Hialeah, Fla. The portfolio is currently 65 percent occupied. Marc Boorstein and Jeff Jacobson of Chicago-based MJ Partners represented the seller, Babcock and Brown, and four lenders in the transaction.
CINCINATTI — An affiliate of Dallas-based Tabani Group Inc. has acquired Northgate Mall in Cincinnati for $21.5 million. The regional mall is located directly south of Interstate 275 in Colerain Township. The real estate company plans to redevelop the 915,956-square-foot mall, as well as the property surrounding it. Rockrose Real Estate Advisors arranged the sale on behalf of E3 Advisors. The distressed property has been under the control of a court-appointed receiver since 2009. The mall is anchored by Sears and Macy's, following the closure of Dillard's in 2009.
RAYTOWN, MO. — Monopoly Acquisitions has purchased a 54,000-square-foot shopping center in Raytown. The Blue Ridge Plaza Shopping Center is located on Blue Ridge Boulevard and 51st Street and is anchored by Family Dollar. Bill Maas of Block & Co. Inc. Realtors represented the seller in the transaction.
PHILADELPHIA — David Fryer of G.S. Wilcox & Co. has arranged $29 million in financing for Whitman Plaza, a 280,000-square-foot retail center in Philadelphia. The center is anchored by Pathmark. Additional tenants include Burlington Coat Factory and Ross Dress For Less. Continental Casualty Co. provided the loan to the borrower, Garden City, N.Y.-based Breslin Realty.
MANASSAS, VA. — A 5,000-square-foot Uno's Chicago Grill, located at 10701 Bulloch Dr. in Manassas, has sold for $1.3 million. The property is leased to Uno's on a long-term, triple-net basis. Joe Pfahler of Fredericksburg, Va.-based Silver Commercial Brokerage represented the seller in the transaction and Rick Fernandez of Calkain Cos.' Reston, Va., office represented the buyer.