CEDAR PARK — Big Lots has leased 33,742 square feet of retail space at 850 N. Bell Blvd. in the Cedar Park Plaza shopping center in Cedar Park. The closeout retailer is set to open in the former Albertson's space in November. Terri Twomey of The Weitzman Group represented Big Lots, while Weitzman's Lance Morris and Parker Estes represented the landlord.
GAINESVILLE, GA.; DECATUR AND MONTGOMERY, ALA.; AND GREENSBORO, N.C. — Coyote Management LP and Garrison Investment Group, through their affiliates, have acquired six retail centers in the Southeast. Totaling 1.6 million square feet the assets include the 517,153-square-foot Lakeshore Mall in Gainesville; the 576,000-square-foot Decatur Mall in Decatur; Promenade Montgomery Shopping Center, Promenade Montgomery North Shopping Center, and Bellwood Center in Montgomery; and Quaker Village in Greensboro. Addison, Texas-based Coyote Management now owns and manages a portfolio of 5.8 million square feet.
TALLAHASSEE, FLA. — Magnolia Park LLC has completed the disposition of a freestanding retail property, which is located at the corner of Park Avenue and Magnolia Drive in Tallahassee. The NN-leased AT&T store sold to an undisclosed buyer for $2.16 million. Francis Rentz of Sperry Van Ness (SVN) represented the seller; Jason Long of Shane Investments represented the buyer in the transaction.
CHICAGO RIDGE, ILL. — Westfield Group has selected ALDI to join its tenant roster at Westfield Chicago Ridge, an 800,000-square-foot regional shopping center in Chicago Ridge. The 20,000-square-foot grocery store will be the first ALDI to be located in a regional mall in the United States. The store is slated to open in May 2011 and will occupy the space formerly tenanted by Steve & Barry’s. Terms of the transaction were not released.
LANCASTER, PA. — Kohl's is set to open its newest located at the end of the month at Mill Creek Square in Lancaster. The apparel retailer will anchor Phase I of the $40 million project. Additional Phase I retailers, which will open through October and November, will include Bed Bath & Beyond, Christmas Tree Shops, Ross Dress for Less, Shoe Carnival, Sally Beauty Supply and Hair Cuttery. Phase I is currently 90 percent leased. In addition, construction has commenced for Phase II of the project, with an anticipated completion of next summer. At full-build-out, Mill Creek Square will contain 288,132 square feet of retail space on 35 acres. Its developer is locally based High Real Estate Group. The project architect is Greenfield Architects, and the general contractor is High Construction Co., both of which are affiliates of High Real Estate.
NEW YORK CITY — REI plans to open its first retail located in New York City with the signing of a 39,000-square-foot lease at Manhattan's historic Puck Building. The outdoor retailer will occupy 14,000 square feet of ground-floor space and 25,000 square feet of below-grade space at the historic building, which is located at the corner of East Houston and LaFayette streets. The new store will be contained over three floors and will feature a full-service bike repair shop. Susan Kurland of CB Richard Elllis represented REI in the long-term deal. Lori Shabtai of Winick Realty represented the landlord, Kushner Cos. The store is REI's third planned for the Tri-State area. A location is East Hanover, N.J., is already open, and another one will open next month in Norwalk, Conn.
FAIRVIEW — A Real Bookstore has signed a 20,000-square-foot lease at The Village at Fairview, making it the largest locally owned bookstore in North Texas. The one-story bookstore will open in December and will include a 2,000-square-foot children's section, a dedicated event space and an area for cooking demonstrations. The Village at Fairview is being developed in conjunction with its sister property The Village at Allen, which opened in October 2008. Together, the mixed-use projects span 400 acres and will include 2 million square feet of retail and 1 million square feet of office, residential and hotel space.
AURORA, ILL. — Chick-fil-A, an Atlanta-based chain restaurant, is opening three restaurant locations in the Chicagoland area by the end of the year. The first of the new locations opened in mid-September and is located at 4435 Fox Valley Center Drive in Aurora. The company plans to open a location in Orland Park, Illinois, in October and a location in Wheaton, Illinois, in November. The new Chicagoland locations are part of the 78 new locations that the company plans to open this year. Additionally, Chick-fil-A plans to expand its Midwest presence with a planned 2011 expansion in St. Louis.
DALLAS — Austin-based Chuy's, a Tex-Mex concept created in 1982, has opened its fourth location in the Dallas-Ft. Worth Metroplex. Located at 3908 Dallas Pkwy. along the Dallas North Tollway, Chuy's chose the location due to the daytime corporate population in opening its fourth Metroplex location. This is the 20th Chuy's opening and the restaurant is looking to expand throughout the Southeast. Dallas-based Foremark represented Chuy's in its site location
DALLAS — Dallas-based Stan Johnson Co. has sold a retail property housing Chase Bank, located at 4709 Ross Ave. in Dallas, for $1.8 million to an international investor. Brett Butler of Stan Johnson Co. represented the company, while Tom Roth of Strategic Retail Advisors represented the buyer in the sale.