HOUSTON — Nikooi Group has purchased a 2,144-square-foot retail center from Kapadia Group. The center is located at 9202 Airport Blvd. in Houston. Hossein represented Nikooi Group in-house and Clay Rabel of Colliers International represented Kapadia in the transaction.
SCOTTSDALE, ARIZ. – Total Wine & More has leased 21,586 square feet of space at Gold Dust Plaza in Scottsdale. The wine retailer will occupy two vacant spaces, as well as a portion of the existing Ace Hardware store. The 86,507-square-foot Gold Dust Plaza will undergo a significant exterior renovation before Total Wine moves in, which will be in fall 2011. The center will also be re-branded as Total Wine Plaza. Cliff Johnston, John Appelbe and Chris Hollenbeck from Cassidy Turley BRE Commercial’s Retail Services Group represented Gold Dust's landlord, Financial Trading & Transacting, LLC. Total Wine was represented by Western Retail Advisors' Neil Board.
CHICAGO — Leopardo has been selected for two build-outs at Joseph Freed and Associates' Sullivan Center in Chicago. A 121,000-square-foot build-out for a future Target store is slated for completion in December 2011, and a 26,000-square-foot build-out of the basement level for DSW is under construction as well. Since April, Leopardo has been awarded more than 500,000 square feet in tenant interior construction contracts.
DOWNINGTON, PA. –– Marcus & Millichap Real Estate Investment Services has brokered the $51.75 million sale of a 386,016-square-foot retail power center in Downingtown, Pa. Kevin Boeve, Mark Taylor and Dean Zang, all of Marcus and Millichap, represented the buyer, Morris Ashbridge Associates, and the seller, Pacific Crest Holding, in the transaction. The property is located at 900 East Lancaster Ave., and its tenants include Home Depot, Best Buy, Staples and Jo-Ann Fabrics and Crafts.
MORRISTOWN, N.J. –– Starbucks is set to open a 2,100-square-foot storefront at The Shops on the Green at 40 Park in Morristown. The store will be Starbucks’ first new location in New Jersey location since 2009. The location is a LEED-certified store. Other Shops on the Green tenants include the AT&T store and Qdoba Mexican Grill.
TRENTON, N.J. –– CB Richard Ellis has completed the sale of a 10,000-square-foot free-standing retail property at 1242 Hamilton Ave in Trenton. Charles Berger of CBRE New Jersey’s Private Capital Group, and Eli Klapper and David Gross of CBRE’s Outer Borough Long Island Office represented the seller and procured the buyer in the net-lease-sale transaction. Dollar General has leased 100 percent of the property.
HOUSTON –– Melrose, an apparel, shoes and accessories store, and Gold & Silver Buyers & Sellers will be joining North 45 Plaza in Houston. Melrose will occupy a 16,132-square-foot store and Gold & Silver will occupy a 2,369-square-foot space. Abe Charski of Abe Charski Interest Inc. represented Melrose in the lease negotiations and Kay Walker represented of Centro Properties Group, which owns North 45 Plaza, in-house.
MESA, ARIZ. – CB Richard Ellis has sold the 210,986-square-foot Mesa Ranch Plaza for $19.1 million. The Mesa-based community shopping center was purchased by Reddy Development. The seller, a lender partnership, had acquired the property through foreclosure from the developer. Mesa Ranch is currently 45 percent occupied. The seller was represented by Philip Voorhees, Todd Goodman, Pat Toomey, Megan Read and John Read of CBRE’s National Retail Investment Group, along with CBRE's local Phoenix investment team of Glenn Smigiel, Bob Young, Steve Brabant and Rick Abraham, and retail specialists Kevin Schuck and John Rehling. Reddy was represented by Bruce Francis and Dana Summers of CBRE Capital Markets in Phoenix.
WILMINGTON, DEL. –– Saladworks has signed an agreement with franchisee Joe Mignone to open his third franchise in Delaware. This Wilmington location is expected to open this fall, which will expand Saladworks’ presence in Delaware to five restaurants. Saladworks operates more than 100 franchise locations in 12 states.
FLORIDA — Indianapolis-based H.H. Gregg has opened 10 new stores in South Florida. The stores are located in Miami, Broward and Palm Beach counties, and will bring the total number of H.H. Gregg stores in Florida to 33. The retailer currently operates 190 stores nationwide.