CHICAGO — Chicago-based Structured Development has signed two restaurant leases at Chicago & Northwestern Railroad Powerhouse, which is located at 211 N. Clinton St. in Chicago. Prairie Fire has inked a deal for a 6,400-square-foot restaurant. Slated to open in later this year, the 150-seat restaurant will offer moderately priced contemporary American comfort food with an emphasis on local and seasonal ingredients. New Line, a bar and grill concept from Spare Time Inc., has leased 3,000 square feet and will open in early October. Sean Lutz of Sperry Van Ness represented Prairie Fire and New Line; Jeff Bernard of REIS represented the landlord, Structured Development, in the lease transactions.
MOBILE, ALA. — Littleton, Colo.-based Lamar Cos. has sold the 76,364-square-foot Hillcrest Marketplace shopping center to a private Atlanta-based buyer for an undisclosed amount. The property, located on 11.83 acres at 6300 Grelot Rd. in Mobile, is anchored by Winn-Dixie and CVS/pharmacy. Firehouse Subs, Hallmark, Hershey’s Ice Cream and Little Caesar’s are also housed in the center. Kevin Fryman of Hanley Investment Group Real Estate Advisors brokered the sale.
FORT LAUDERDALE, FLA. — Miller Construction Co. has finished construction on RoboVault, a high-tech storage facility prototype. The property is located at the interchange of I-595 and U.S. 1 in Fort Lauderdale. RoboVault features include automated storage retrieval, biometric recognition and climate-controlled wine storage spaces. The property was constructed to withstand Category 5 hurricanes.
COVENTRY, R.I. — Marcus & Millichap has completed the $9.7 million sale of the Coventry Crossing, shopping center in Coventry. Situated at the intersection of Arnold Road and New London Turnpike, Coventry Crossing totals 20,752 square feet in three separate buildings. Tenants at the center include CVS/pharmacy, Dunkin' Donuts, Radio Shack and Webster Bank. Bob Horvath and Todd Tremblay of Marcus & Millichap's Boston office, along with Al Taf of the firm's Atlanta office, represented the seller, Hecht Development. Tremblay and Horvath also represented the buyer, a regional investor.
RARITAN, N.J. — A new 143,371-square-foot Walmart has opened at Raritan Town Square, Garden Commercial Properties' 500,000-square-foot retail and office project located in Raritan. The retailer will serve as co-anchor of the center with Lowe's Home Improvement Warehouse. In addition, a 5,000-square-foot IHOP restaurant has broken ground at the center, with completion slated for spring 2010.
AMHERST, N.Y. — CarStar Automotive has purchased a former General Motors auto dealership located in Amherst for $1.85 million. The property comprises a 20,000-square-foot building situated on approximately 5 acres at 2915 Niagara Falls Blvd. CarStar plans to relocate its current facility to the property. Richard Schechter and Ben Borruso of Pyramid Brokerage Co., along with Jones Lang LaSalle, represented the seller, General Motors. Pyramid has also been retained to sell the Gillogly Chevrolet dealership located in West Seneca, N.Y.
Berkeley, Calif. — Marcus & Millichap Real Estate Investment Services has handled the sale of a 1,647-square foot Precision Tune Auto Care, located in Berkeley, for $2.3 million. David Ching and Norman Ng, investment specialists in Marcus & Millichap’s Oakland, Calif., office, represented both the seller, a limited liability company, and the buyer, a private investor.
BALTIMORE — Pikesville, Md.-based Hollins Partners has purchased a 44,332-square-foot retail building from Bank Street Holdings for $6.5 million. The property is located at 1300 Bank St. in Baltimore. Tenants in the building include Lemongrass, Mustang Alleys, a bakery and a gym. Jonathan Beard of CB Richard Ellis’ Baltimore office brokered the sale.
DECATUR, GA. — Dallas-based Capmark Financial has sold the 215,000-square-foot Wesley Chapel Square shopping center to BDB Capital for $6 million. The property is located on Wesley Chapel Road in Decatur. The Kroger-anchored center houses 23 retail tenants. Joe Montgomery and Tony D’Ambrosio of Atlanta-based Colliers Spectrum Cauble represented Capmark.
ELLSWORTH, MAINE — A new Walmart has opened at Acadia Crossing, an open-air shopping center located in Ellsworth. The new Walmart marks the completion of Phase II construction at the 500,000-square-foot center. Acadia Crossing is located at the intersection of routes 1 and 3. Other anchors at the center include The Home Depot.