BALTIMORE — Vanguard Equities has acquired 63,694 square feet at Golden Ring Center, which is located at 8823 Pulaski Highway in Baltimore. The Baltimore-based company plans to redevelop and lease the retail space, which was previously occupied by Circuit City. Matthew Cooper and Eddie Goldmeier of Grubb & Ellis represented the buyer; DJM Realty represented the seller, Circuit City, in the transaction.
CHARLESTON AND NORTH CHARLESTON, S.C. — Colliers Keenan Retail Services Group recently brokered two lease transactions to bring Five Guys, a burger and fries casual dining restaurant chain, to the Charleston area. The restaurants will be occupy a 2,511-square-foot space at 364 King St. in downtown Charleston and a 2,810-square-foot space at 4959 Centre Point Dr. at the Centre Point retail center in North Charleston. Five Guys’ other Charleston area restaurants are located at Indigo Village in West Ashley and Town Centre Place in Mount Pleasant. John Peyre Scurry, Jr., and Erin England of Colliers Keenan brokered the transactions.
DARIEN, CONN. — NorthMarq Capital has arranged $12.37 million in construction-to-permanent, first-mortgage financing for the development of a new 50,000-square-foot Whole Foods Market, located in Darien. The loan carries a 10-year term with interest-only payments during the construction period, followed by a 30-year amortization schedule. Ernest DesRochers and Charles Cotsalas of NorthMarq’s New York Metro office arranged the transaction between the borrower, Darien WF LLC, and the lender, Peoples United Bank. The project is expected to be complete by mid-2010.
SAN ANTONIO — Los Angeles-based Investment Real Estate Associates (IREA) has closed the sale of a Family Dollar store in San Antonio. Built in 2009, the 9,180-square-foot building is located at 1826 Rigsby Ave. William Everitt and Clark Everitt with IREA represented both the buyer, a private individual, and the seller, TI Rigsby, LP, in the transaction.
EAST ST. LOUIS, ILL. — Groundbreaking has occurred for a new $2.15 sports bar and entertainment venue for The Casino Queen, a casino and resort located at 200 S. Front St. in East St. Louis. Known as SEVENS, the venue will feature 16 high-definition televisions, a retractable projection screen, museum cases that feature St. Louis Cardinals memorabilia and a 360-square-foot performance stage near a dance floor. SEVENS is expected to open this fall. St. Louis-based KAI Design & Build is serving as projects architect with Legacy Building Group serving as general contractor. The Casino Queen recently completed a $2.2 million hotel renovation project.
ARLINGTON, TEXAS — Chuy’s, an Austin, Texas-based Tex-Mex concept, has opened its new location in Arlington. The restaurant is located at The Retail Connection’s Arlington Highlands development, a 1.5-million-square-foot power center at the northeast corner of Interstate 20 and Matlock Road. Dallas-based Foremark handled the acquisition, entitlement and project management of the site. Parkway Construction & Associates managed the building’s design and construction. This marks Chuy’s third location in the Dallas/Fort Worth market.
VICTORIA, TEXAS — Moody Rambin Interests has brokered the sale of a 27,665-square-foot NNN Incredible Pizza, located at 3706 Navarro St. in Victoria. Chris Dray and Derek Hargrove of Moody Rambin Investment Services represented the seller, Victoria Incredible Pizza Group. The buyer was Fuldner Enterprises.
ATLANTA — A joint venture between Alex. Brown Realty and affiliates of Healey Weatherholz Properties has purchased the 126,000-square-foot Shops Around Lenox retail center from an undisclosed seller. The single-story property, which was built in 1979, is located on Around Lenox Road in Atlanta. State Farm Life Insurance Co. provided debt financing for the acquisition; HW Lenox, an affiliate of Healey Weatherholz, provided $4.2 million, and ABR Chesapeake Fund III contributed $6.3 million. The buyers are planning a renovation starting this winter, which will be complete by next spring. Upgrades include new exterior finishes, adding public art and bringing in new retailers. Current tenants will remain open during construction.
CHAMPAIGN, ILL. — Marcus & Millichap has brokered the sale of a 128,852-square-foot retail property, located at 913 W. Marketview Dr. in Champaign. The big box property was originally built as a Wal-Mart and later converted into a Steve & Barry’s. The buyer is an owner/user that plans to use the location for a farm and home merchandising concept. Mark Hellwig and Drew McElligott represented the seller, a national REIT. The acquisition price was not disclosed.
PLYMOUTH, MINN. — NorthMarq Capital has arranged $3.8 million in first-mortgage financing for Plymouth Town Center, a 26,330-square-foot retail center located in Plymouth. The property was approximately 95 percent occupied at the time of closing and is shadow-anchored by a Cub Foods grocery store. Brian Hennen of NorthMarq’s Minneapolis office secured the loan, which carries a 10-year term and a 25-year amortization schedule. The borrower was a tenant-in-common structured ownership group and the lender was Thrivent Financial for Lutherans.