FONTANA, CALIF. — Hispanic grocery store chain Rio Ranch Market has leased a 45,000-square-foot retail space at Southridge Plaza Shopping Center in Fontana. The space was formerly occupied by a Ralphs supermarket. Rio Ranch hopes to open its new store in the second quarter of 2012. The value of its 10-year lease was not disclosed. Argent Retail Advisors’ Terry Bortnick represented both Rio Ranch and the center’s owner, Mabela, LLC, in this transaction.
ATLANTA — Cousins Properties Inc. has signed the first six tenants to the $100 million Phase I of Emory Point, a mixed-use property located at 1727 Clifton Rd. in Atlanta. The retailers include: a 14,338-square-foot CVS/pharmacy; a 4,512-square-foot Jos. A. Bank; a 2,995-square-foot Marlow's Tavern; a 1,891-square-foot Solar Dimensions; a 1,692-square-foot Which Wich; and a 1,117-square-foot Carriage Cleaners. The first phase, which will include 80,000 square feet of retail space and 443 apartments, is slated for completion in the fall of 2012.
DALLAS, CARROLLTON AND MESQUITE — Dallas-based Bradford Commercial Real Estate Services has arranged lease transactions at Forest Audelia Shopping Center, located at 9759 Forest Ln. in Dallas; Josey Rosemeade Shopping Center, located at 3720 N. Josey Ln. in Carrollton; and Galloway Crossing, located at 2110 N. Galloway Ave. in Mesquite. In Forest Audelia, Jump Off Spot signed a leased relocation/expansion of 2,123 square feet and Shark's Chicken & Fish signed a 1,850-square-foot lease renewal. Leigh Richter and Michael Tran of Bradford represented the landlord, Mwest Holdings LLC, in the Jump Off Spot lease, and Paul Richter of Bradford represented the landlord in the Shark's lease transaction. The lease transactions in Josey Rosemeade include Physiotherapy Associates renewing a 4,690-square-foot lease, a 1,404-square-foot lease for Sell Your Gold Shop and Edward D. Jones & Co. renewing a 1,120-square-foot lease. Leigh Richter represented the landlord, Mwest Holdings, in the Physiotherapy Associates transaction. Paul Richter and Tran represented the landlord in the Sell Your Gold transaction, and Leigh Richter and Tran represented the landlord in the Edward D. Jones & Co. transaction. The transactions in Galloway Crossing include Debonair Cleaners renewing a 2,697-square-foot lease, Super Smile Dental renewing a 1,244-square-foot lease and Metro PCS …
LAS VEGAS – A 48,172-square-foot retail center located at the southeast corner of Desert Inn Road and Pecos-McLeod Drive in Las Vegas has sold to Desert Inn-Pecos Plaza, LLC for $1,825,000. The center is anchored by a Family Dollar store, and is currently 45 percent leased. Nicholas Barber, Jason Brooks and Jeremy Foley of Gatski Commercial represented both the buyer and the seller, 3025 E. Desert Inn Holdings, LLC, in this transaction.
CHARLOTTE, N.C. — A joint venture between Charlotte-based Ferncroft Capital and Dallas-based Crow Holdings has purchased the 102,000-square-foot Northlake Commons Shopping Center, located at 9310 Center Lake Dr. in Charlotte, for $22 million. Tenants include Chick-fil-A, Chili's, Olive Garden, On The Border, Red Robin, Panera Bread, AT&T, Sprint, Moe's Southwest Grill, Shane's Rib Shack, Men's Wearhouse and Fox and Hound. New South Properties has been retained to lease and manage the center.
ORLANDO, FLA. — CBRE has arranged the $1.8 million sale of the 45,370-square-foot Washington Shores Plaza, located at 2100 Bruton Blvd. in Orlando. CBRE's Orlando office represented the seller, Berkadia, in the REO transaction. The buyer was CRP II – Washington Shores, an entity affiliated with Tampa, Fla.-based Community Reinvestment Partners II, a private equity fund sponsored by Forge Capital Partners and DeBartolo Development. The center is currently 39 percent leased, however, the purchaser secured a 22,500-square-foot lease with Save-A-Lot during the due diligence period.
MIDDLETOWN, N.Y. — Hobby Lobby, an arts and crafts retailer, opened a 56,491-square-foot store at Wallkill Plaza, located on the southeast corner of Route 211 East and Carpenter Avenue in Middletown, N.Y. David Sternschuss of Welco Realty Inc.'s New Rochelle, N.Y. office represented Hobby Lobby. Brixmor Property Group, the owner of Wallkill Plaza, was represented by Laura Parke-Carson of Bixmor.
MISSION — FREEBIRDS World Burrito is opening a new 2,705-square-foot restaurant, located at 2521 E. 83, Ste. 600 in Mission. Concept owner, Emeryville, Calif.-based Tavistock Restaurants, operates 56 FREEBIRDS restaurants in Texas and California. The restaurant will be open to the public on Nov. 10.
SECAUCUS, N.J. — Discount retailer Syms Corp. and its subsidiary Filene's Basement have filed for Chapter 11 bankruptcy protection in Delaware. The retailer plans to liquidate the two chains by the end of the year, citing increased competition in the off-price retail industry. The Secaucus, N.J.-based company operates 46 stores under its Syms and Filene's Basement banners, which are located mostly in the eastern U.S. Syms and Filene's basement are seeking court approval for Cushman & Wakefield to assist in the sale of company-owned real estate. The liquidation is expected to run through January.
WATERTOWN, N.Y. — Marcus & Millichap Real Estate Investment Services has completed the $3.2 million sale of Kinney Drugs, an 11,236-square-foot property located at 1304 Washington St. in Watertown, N.Y. Steven Stoehrer and Preet Sabharwal represented the seller, a developer, in the transaction. They also represented the buyer, a private fund manager.