MANCHESTER, CONN. — Christmas Tree Shops, Inc. has signed a $8 million, 12-year lease renewal to remain the anchor tenant at Hale Road Plaza at 120 Hale Rd. in Manchester. The store occupies 58,000 square feet in the 112,000-square-foot center. The center is 91 percent leased to other tenants including Guitar Center, The Dog House and Namco.
COLLEYVILLE, MULESHOE AND WEATHERFORD — Tommy Tucker and Kevin Catalani of United Commercial Realty (UCR) Investment Sales have represented the sellers in the following sales of three retail properties: Centennial Real Estate has purchased Village Park at Colleyville, a 45,057-square foot shopping center at the Colleyville Boulevard and Glade Road intersection in Colleyville. Tenants in the property include Import One, Prudential Texas Properties and Autographs Inc. A private REIT has purchased United Supermarkets, a 25,825-square-foot freestanding grocery store on American Boulevard in Muleshoe, from J.E. Robert Co. The property features a fueling station. A Texas-based investor has purchased Weatherford Commons, a 34,448-square-foot retail center in Weatherford, from LNR Partners. Weatherford Commons tenants include Starbucks, Payless ShoeSource, Hallmark, GameStop, Palm Beach Tan, Great Clips, Cotton Patch Cafe, WingStop and Cash Store.
VICTORIA — Houston-based Baker Katz has executed a 18,710-square-foot lease with Gold's Gym Express for its first Victoria location in the Northcross Shopping Center at 5201 N. Navarro St. Other tenants in the Northcross development include Ashley's Furniture, Jason's Deli, Dollar Tree and GameStop. The fitness center is the second corporate owned Gold's Gym in the state — the other one is in Brownsville. Baker Katz's Jamie Weaver represented Gold's Gym, while Warren Houser of Centcom Realty Corp. represented the landlord in the transaction.
SAN DIEGO — A 2,982 square foot, single-tenant building in Downtown San Diego that is currently occupied by Jack in the Box has sold to an undisclosed buyer for $2,770,000. The sale was executed at a 5.49 percent cap rate. Jack in the Box also signed a new 20-year lease at the building, which is located at 1619 Pacific Highway, that includes four five-year options to renew. The buyer was represented by Peter Nisbet and Scott Morasch of Marcus & Millichap’s Seattle office. The seller was represented by Jack in the Box.
MARIETTA, GA. — CB Richard Ellis has brokered the $4.07 million sale of the 113,888-square-foot Piedmont Village, located at the intersection of Piedmont and Canton roads in Marietta. Aaron's and a Department of Motor Vehicles office anchor the center, which is currently 88 percent leased. Craig Taylor of CBRE's Atlanta office represented the seller, Kentucky-based First Southern National Bank. The buyer was Marietta-based Columbia Properties.
PINECREST, FLA. — Miami-based Aztec Group has secured $2.5 million in financing for the 32,665-square-foot Dadeland North Shopping Center, located at the corner of Southeast Dixie Highway and Ludlam Road in Pinecrest. Jason Shapiro and Kevin Miliffe arranged the 10-year loan through a local bank.
SHILLINGTON, PA. — New York City-based Katz Properties has acquired Kenhorst Plaza, a 162,000-square-foot shopping center at 1895 New Holland Rd. in Shillington, for $16.15 million. The shopping center is anchored by Redner's Warehouse Markets grocery store, and is currently 89 percent leased to tenants like Dollar Tree, Fashion Bug, General Nutrition Center, Dairy Queen, Susquehanna Bank, H&R Block, Sears and a U.S. Postal Service location. Paul Rumley of Metro Commercial represented Katz Properties and the selling partnership, and mortgage financing was arranged by Tim Breda of Goedeck & Co. through AIG. Winslow Property Management, an affiliate of Katz Properties, will provide leasing and property management services.
PORTLAND, MAINE — The Hampshire Companies has sold its 32,000-square-foot retail building, which it currently fully leased to Trader Joe's, at 87 Marginal Way in Portland. The buyer, American Realty Capital II, purchased the property, which previously housed Wild Oats Co. before its merger with Whole Food Corp. CB Richard Ellis' Chris Bosworth and Dan Greenstein represented The Hampshire Companies in the transaction.
SCHERTZ — NorthMarq Capital has arranged $5.15 million in first mortgage financing for the FM 3009 Shopping Center, a 40,483-square-foot retail center in Schertz. NorthMarq's William Luedemann and Lori Sowa arranged the financing on a 20-year term with a 20-year amortization schedule for the borrower, FM 3009 Horizon, LP, through NorthMarq's correspondent relationship with StanCorp Mortgage Investors LLC. The center is currently 91 percent occupied by tenants like Dollar Tree and MedCom. The financing is extended to the center's two ground-leased pad sites as well.
HOUSTON — Sage Plaza, a 25-story Class A building at 5151 San Felipe St. in Houston, has added several new tenants. CB Richard Ellis' Bonnie Kelley represented the landlord, a fund managed by New York City-based BlackRock in the recent leasing activity. The recent tenants to lease space in the 520,453-square-foot property include: PSC, LLC has leased 71,913 square feet, and Jim Bailey of Cushman & Wakefield represented them in the transaction. Epcot Electric has leased 10,008 square feet. DeGolyer & McNaughton Corp. has renewed its lease for 6,911 square feet, and John Beach with Jackson Cooksey represented them in the renewal negotiations. Newmark Knight Frank has renewed its lease for 6,677 square feet, and Brandi McDonald represented them in house. Ramex, Inc. has leased 2,233 square feet. Aerojet Holding, Inc. has renewed its lease for 2,109 square feet, and Justin Leighton of Studley represented them in the transaction. Black & Veatch Corp. leased 2,037 square feet, and Steve Beigel with Studley represented them in the transaction.