MT. PLEASANT, S.C. — Greenville, S.C.-based Fox Capital Partners is developing Rivertowne Place, a grocery-anchored shopping center, to LEED specifications. The property is located on Highway 41 in Mt. Pleasant. Rivertowne will spotlight a new Harris Teeter prototype in addition to providing space for restaurants and retail tenants.
KANSAS CITY, MO. — The city of Kansas City and T-L Brywood LLC, which owns Brywood Centre, have entered into a redevelopment agreement for the shopping center. Located at the intersection of 63rd Street and Blue Ridge Cut Off in Kansas City, the 183,464-square-foot retail project will receive a new building façade, as well as an expansion dedicated for a grocery store anchor and new outlots along 63rd Street. Additional new elements include enhanced lighting features, new signage and landscaping upgrades. The redevelopment has been made possible through Tax Increment Financing and a Community Investment District approved by the city. Construction is expected to begin in July or August; an end-date for the redevelopment has not been announced.
ANDERSON, IND. — The Silver Group, as the sole broker, has negotiated the sale of a McDonald’s restaurant ground lease in Anderson for $540,000. The restaurant has more than 12 years remaining on the lease, which features 10 percent rent increases every 5 years. The buyer and seller were not disclosed. Anderson is located approximately 40 miles northeast of Indianapolis.
SAN DIEGO — Taylor Trust 8-9-95 has purchased a 2,800-square-foot retail property in downtown San Diego. Located at 635 5th Ave., the property sold for $2.4 million. Rick Wu of Voit Real Estate Services represented the buyer and the seller, Chirco Trust, in the transaction.
GEORGIA AND FLORIDA — Orlando, Fla.-based Cuhachi & Peterson Architects is working on six retail design projects in Georgia and Florida. The firm is working on the renovation of two Pizza Hut stores in Claxton and Glenville, Ga., and two more stores in Savannah, Ga. Each store encompasses 1,000 square feet of space. In Lady Lake, Fla., the firm is designing interiors for the 2,300-square-foot Irish Café and the 1,700-square-foot Gold-In-Art store. The Lady Lake properties are located in the Village Crossroads shopping center on U.S. Highway 441.
NORWOOD, OHIO — The Kroger Company has opened an approximately 80,000-square-foot Kroger grocery story in Norwood. The new location is situated within Surrey Square, at the corner of Montgomery Road and Sherman Avenue. It replaces and doubles the size of Kroger’s existing location within the center. Kroger’s grand opening marks the completion of Phase II of the three-phase redevelopment of the 176,433-square-foot Surrey Square that is being undertaken by Centro Properties Group, the shopping center’s owner. Phase I added approximately 21,000 square feet of in-line retail space to the center’s southern end and relocated an existing McDonald’s. Phase II consisted of the expansion of Kroger within the center. Phase III, which will begin in July, will reconfigure the space formerly occupied by Kroger for new retail tenants.
CHICAGO — Sandwich shop chain Jimmy John’s has announced six new Chicagoland locations. This summer will see the opening of one at Lake Zurich Shopping Center in Lake Zurich. Four restaurants will open in the fall, including locations at 12601 S. Western Ave. in Blue Island, 400 S. Randall St. in Elgin, 264 W. 162nd St. in Elgin and at Hillside Town Center in Hillside. A sixth location at Cedar Crossings shopping center in New Lenox will open in 2010. The leases for all six locations were negotiated on behalf of Jimmy John’s by Allen Joffe of Chicago-based Baum Realty Group. Jimmy John’s currently has more than 900 locations and has already opened 200 new restaurants this year.
CHICAGO — The grand opening has been held for a new Jewel-Osco grocery store, located at 11730 S. Marshfield Ave. on Chicago’s South Side. The new 64,445-square-foot location is situated within Marshfield Plaza, Beverly Hills, Calif.-based Primestor’s 454,000-square-foot retail redevelopment of the former Libby Food canning plant. In addition, Anna’s Linens has opened an 8,500-square-foot location at 11614 S. Marshfield Ave. The two retailers join a tenant roster that includes Target, Marshall’s, LA Fitness, Staples, Petco, Dollar Tree, Fifth Third Bank, Chili’s Grill & Bar and Panda Express, among others.
SOUTH PADRE ISLAND, TEXAS — Lynann Pinkham with Corpus Christi, Texas-based NAI Cravey Real Estate Services, along with Doug Lacy of The Retail Connection, recently represented National Retail Partners in the leasing of the former OfficeMax space at 5625 South Padre Island Dr. Spec’s Liquor, which will occupy the 25,390-square-foot space, will open later this year.
TEHACHAPI, CALIF. — Alex Kozakov and Patrick Wade of Marcus & Millichap represented the undisclosed seller in the disposition of a 3,115-square-foot, single-tenant retail property in Tehachapi. Located at 550 Tucker Rd., the property sold to an undisclosed buyer for $1.05 million. The asset is currently occupied by Jiffy Lube Service Center #2760, which offers two auto bays.