WAYNESVILLE, N.C. — CBL & Associates has started construction on the 127,500-square-foot Waynesville Commons, located at the intersection of Interstate 74 and Hyatt Creek Road in Waynesville. An 85,000-square-foot Belk will anchor the retail center, which will also include Michaels, PetSmart and 11,000 square feet of specialty stores. Completion is slated for October 2012.
FORT MYERS, FLA. — Fort Myers-based LandQwest Commercial has brokered the $6.31 million sale of a 76,783-square-foot retail property, located at 13170 S. Cleveland Ave. in Fort Myers. The building was formerly occupied by a Robb & Stucky, a furniture store. The seller was National Retail Properties.
NORTHBROOK, ILL. — Saks Incorporated has leased 25,900 square feet at the 334,955-square-foot Village Square of Northbrook, located at the corner of Lake Cook Road and Old Skokie Boulevard in Northbrook. Liz Krebs of Mid-America Asset Management represented the landlord in the lease transaction and Marlon Stone of Colliers International's Rosemont, Ill., office represented the tenant.
WARWICK, R.I. — Dover Garage II has purchased Hoxie Crossing, a 6,400-square-foot shopping center at 17 Airport Rd. in Warwick, for $3.08 million. Hoxie Crossings is located in Hoxie Four Corners and has three tenants: Starbucks, Verizon Wireless and Papa Gino's. Marcus & Millichap Real Estate Investment Services' Robert Horvath and Todd Tremblay procured the buyer, Dover Garage, and represented the seller, Bucci Development.
SAN ANTONIO AND CORPUS CHRISTI — BAB, Inc. is scheduled to open two new Big Apple Bagels restaurants in San Antonio and a My Favorite Muffin store in Corpus Christi. BAB is slated to open a Big Apple Bagels restaurant at 300 E. Houston St., Suite 105 in September with another Big Apple, also opening in September, at 19178 Blanco Rd. BAB is also planning to open a My Favorite Muffin restaurant at 3920 S. Padre Island in October.
NASSAU BAY AND HOUSTON — Griffin Partners has signed three retailers to lease agreements: • The Paint Pub has leased 2,772 square feet of space in Nassau Bay Town Square, a mixed-use development in Nassau Bay. The Paint Pub combines painting classes, music, beer and wine service and a retail boutique. Jason Long represented the landlord, Griffin Partners, in house. • Wyckoff and Russell has extended its 1,474-square-foot lease at 675 Bering Dr. in Houston. Travis Taylor represented the landlord, Griffin Partners, in house. • Eleven Two Hundred Deli has leased 1,057 square feet at the Westchase Place Building at 11200 Richmond Ave. in Houston. Brian Thorton of Houston Realty Associates represented the tenant, while Long represented the landlord, Griffin Partners, in house.
SANDY SPRINGS, GA. — Marietta, Ga.-based Columbia Properties has acquired the 63,000-square-foot Trowbridge Crossing Shopping Center, located at the corner of Roswell and Trowbridge Roads in Sandy Springs, from Charter Hall REIT for $6.7 million. Publix anchors the center, which is fully leased.
KANSAS CITY, KAN., AND COLUMBUS, OHIO — DDR and Glimcher Realty Trust have entered into an agreement to swap two assets in the fourth quarter of 2011. Glimcher will purchase the 650,000-square-foot Town Center Plaza in Kansas City from DDR for $139 million. Macy's and Dick's Sporting Goods anchor the center. DDR will purchase the 700,000-square-foot Polaris Towne Center in Columbus from Glimcher for $80 million. Target, Lowe's Home Improvement, Kroger, Best Buy and T.J. Maxx anchor the center.
PEARLAND — Holliday Fenoglio Fowler (HFF) has arranged a $3.7 million refinancing for Cullen Crossing, a 34,730-square-foot retail center at 8321 Broadway St. in Pearland, a suburb of Houston. Cullen Crossing is 94 percent leased to tenants Hallmark, Comcast Cable, Wingstop and Subway, and it features two pad sites occupied by Wells Fargo and McDonald's. HFF's Travis Anderson arranged the 10-year, fixed-rate loan with American United Life Insurance Co. on behalf of Cencor Realty Services.
ROWLAND HEIGHTS, CALIF. – Johnson Capital has arranged an $11-million loan for the 225,808-square-foot Mandarin Plaza retail center in Rowland Heights. Located at 18900 – 18932 E. Gale Ave., Mandarin Plaza was built in 1984 and renovated in 2010. It is fully leased. Tenants include 99-Ranch Market, a 135-room Best Western Hotel, and more than 20 additional shops and restaurants. The debt was provided by John Hancock Life Insurance Company. Financing was arranged by Greg Richardson, managing director, and Scott Watson, vice president of Johnson Capital’s Irvine, Calif., office.