PLANO — Just Fitness 4U has leased 29,460 square feet of anchor space in Towne Square Shopping Center at 910 W. Parker Rd. in Plano. The location is Just Fitness' sixth location in the Dallas-Fort Worth market. Marc Marrocco, Perren Gasc and Beau Barkerding of The Weitzman Group's Commercial Retail Division represented Just Fitness 4U. The Weitzman Group is representing Just Fitness 4U in its expansion in the Dallas-Fort Worth area. The landlord, Dunhill Partners, was self-represented.
Retail
ARLINGTON — ITT Educational Services Inc. has signed a 30,000-square-foot lease renewal and expansion at 551 Ryan Plaza Dr. in Arlington. ITT currently occupies 100 percent of the 23,500-square-foot building, and the agreement gives ITT an additional 6,500 square feet. The expansion project is expected to be complete by the end of the year. Chris Wright of Grubb & Ellis represented the landlord, Bridge Parkway Associates, while Bob Ikel of IC3 Real Estate represented ITT.
LAS VEGAS — LBG Realty Advisors, LLC, in partnership with Blue Vista Sponsor Equity Fund II, LLC, an affiliate of Blue Vista Capital Management, LLC, has acquired the Southwest Marketplace in Las Vegas. The Class A, grocery-anchored shopping center contains 118,284square feet of space, including a 65,400-square-foot Smith’s Food and Drug Store and a Smith’s Gas. Smith’s was included in the acquisition. The center was 85 percent leased at the time of closing. The acquisition also includes two completed building pads that can accommodate an additional 68,000 square feet of development. LBG will be leasing the property, and is in negotiations now with prospective anchor tenants for the large development pad. It is also in talks to fill the vacant spaces and small development pad. The development should be completed in 2013.
DENVER — Marcus & Millichap Real Estate Investment Services has sold the 18,885-square-foot Asian Center in Denver to a limited liability company for $3,525,000. Located at 1000 South Federal Blvd., Asian Center is fully occupied. M&M’s Jason Ferdig marketed the property exclusively on behalf of the seller, a private investor. He also secured and represented the buyer.
TALLAHASSEE, FLA. — A joint venture between Cousins Properties Incorporated, Watkins Retail Group and New Horizon Retail Development has started construction on the $25 million, 150,000-square-foot Mahan Village, located at the intersection of Capital Circle and Mahan Drive in Tallahassee. A 45,600-square-foot Publix — scheduled to open November 2012 — and a 67,664-square-foot Academy Sports & Outdoors — scheduled to open October 2012 — will anchor the center, which is 79 percent preleased.
BOCA RATON, FLA. — CB Richard Ellis (CBRE) has negotiated the $18.5 million sale of the 68,9760-square-foot Palms Plaza, a shopping center located at 22191 Powerline Rd. in Boca Raton. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE's Miami office represented Greensboro, N.C.-based Bell Partners, the seller, in the transaction. The buyer was North American Development Group.
ST. LOUIS — Q10 Triad Capital Advisors has closed $28 million in financing for the 197,500-square-foot Brentwood Square, a shopping center located at 1519-1909 Brentwood Blvd. in St. Louis. A life insurance company provided the 10-year loan.
CARROLLTON — Singh Theaters LLC has purchased a 56,057-square-foot building at Crestview Corners at 2661 Midway Rd. in Carrollton. The property is a former Albertsons, and Singh plans to open a Parthenon Theaters location there in early 2012. Venture Commercial Real Estate's John Zikos and Christopher Gibbons represented the seller, Albertsons LLC, while Kerri Rushing of Grand Realty Services represented Singh.
CARY, N.C. — Marcus & Millichap has brokered the $14.32 million sale of the 85,499-square-foot Stonebridge Village, located at 3430 Ten Ten Rd. in Cary. Harris Teeter anchors the center. Additionally, the sale includes the assumption of a 10-year loan. Sonny Molloy of Marcus & Millichap's Atlanta office represented the seller, First Carolina Properties. The buyer was undisclosed.
MANCHESTER, MO. — NorthMarq Capital has secured $4 million in financing for the 126,179-square-foot Lafayette Center, located in Manchester. Jeff Chaney with NorthMarq's St. Louis office secured the 10-year loan with a 30-year amortization schedule through PPM Finance.