NEW YORK CITY — The Kaufman Organization recently negotiated a 16-year, 5,000-square-foot lease at 470 Seventh Ave. in Manhattan, New York City, for JPD Restaurant Group. ?JPD plans to open a Pig n’ Whistle Irish pub at the location. Located in the Garment District, the 14-story building was built in 1924 and contains 74,000 square feet. The terms of the lease were undisclosed, but the asking rent for the space was $150 per square foot. Other tenants in the building include Ambient Group LLC, David Tutera, Inc., and Sabara Global Consumer Products. Grant Greenspan, Michael Kaufman, and John Schiliro of the Kaufman Organization represented both the landlord and tenant in the transaction.
AVENEL, N.J. — Subway has signed on for space at Delco Plaza in Avenel. The 77,928-square-foot neighborhood shopping center is now 100 percent leased. Delco Plaza is located on St. Georges Avenue (Route 35) at Peach Street. Other tenants at the shopping center include Pathmark, Boston Market, Photo Time, Crystal Vision, Golden Touch Jewelers, 99 Cent Max, Hair Designs, BuyRite Liquors, Beauty Castle, Radio Shack, Bank of America, pizza and Chinese restaurants and a nail salon. Ethan Goldsmith of Levin Management Corp., the exclusive leasing and managing agent for the property, brokered the 800-square-foot commitment.
PENSACOLA, FLA. — Developers Diversified Corp. has sold the 259,392-square-foot Palafox Square shopping center to Yale Realty Services Corp. for an undisclosed amount. The Pensacola property is anchored by a 219,742-square-foot Wal-Mart Supercenter and is fully occupied by Office Depot, GameStop, Radio Shack, Fantastic Sams, GNC and Sally Beauty Supply, among others. Jim Michalak, Anthony Blanco and Lenard Williams of Plaza Advisors represented the seller.
MIAMI — Orlando, Fla.-based Cuhaci & Peterson Architects is working on a redesign of two Winn-Dixie supermarkets in Miami. The firm will design new spaces for the 50,000-square-foot store on N.W. 41st Street, and the 61,000-square-foot store on N.W. 11th Street.
MANCHESTER, CONN. — A 30,000-square-foot Savers recently opened at Crossroads Shopping Center in Manchester. The retail center is located in the northeast corner of Interstate 84 (Wilbur Cross Highway) and Buckland Road on Pavilions Drive. Peter Considine of The Dartmouth Company, represented Savers, and Centro Properties Group, the owner, was represented in-house by Charles Davis of Centro Properties.
DALLAS — Indianapolis-based Simon Property Group has assumed leasing and management duties for Galleria Dallas, a 1.3 million-square-foot mall located at the interchange of Interstate 635 and the Dallas North Tollway in Dallas. The four-story shopping center contains over 200 stores. It is anchored by Saks Fifth avenue, Nordstrom and Macy’s; additional tenants include Luis Vuitton, Gucci, Baccarat and Tiffany & Co. The property also includes an office tower, a hotel and an ice skating rink — all of which were not included in the transaction. Simon will take control of the property August 1. Galleria Dallas. The mall was previously managed by General Growth Properties, which filed for bankruptcy earlier this year.
SUGAR LAND, TEXAS — CB Richard Ellis (CBRE) has brokered the sale of a 3,500-square-foot retail bank building, located at 11770 University Blvd. in Sugar Land. Nizari Progressive Federal Union acquired the property. The financial institution currently has locations in Texas, California and Illinois. CBRE’s Mark Raines, Matt Keener and Russell Janicek represented the buyer. The undisclosed seller was represented by Simmi Jaggi and Elizabeth Clampitt, also of CBRE. The purchase price was not released.
PHILADELPHIA — The New Jersey office of Holliday Fenoglio Fowler (HFF) has arranged a $17 million loan for Columbus Crossing, a 142,166-square-foot, grocery-anchored shopping center located in Philadelphia. The shopping center is situated on 11.33 acres at 1851 S. Christopher Columbus Blvd. It is currently 97 percent leased by a tenant roster that includes SuperFresh, Old Navy, A.C. Moore, Famous Footwear, Bath & Body Works and Lane Bryant. The center is shadow anchored by The Home Depot and Walmart. The loan carries a 5-year term with a 6.75 percent interest rate and was provided by Susquehanna Bank. The borrower is Cedar Shopping Centers. The transaction was arranged by Jim Cadranell and John Taylor, both of HFF.
HOUSTON — Grubb & Ellis has brokered the sale of a 4,000-square-foot bank building, located on a 29,906-square-foot site at 1350 W. 43rd St. in Houston. The building is occupied by Wachovia under a 20-year, triple-net ground lease. The building was constructed in 2008. George Cushing and Wendy Vandeventer, both of Grubb & Ellis, represented the seller, Eastbourne Oak Forest LP. Mark Sondock of NewQuest Properties represented the buyer, Patterson Ranch Inc. The acquisition price was not released.
SEAL BEACH, CALIF. — CB Richard Ellis has brokered the $45.3 million sale of Old Ranch Towne Center, a retail center located at 12300-12490 Seal Beach Blvd. Bob Young, Steve Brabant, Glenn Smigiel and Rick Abraham of CBRE’s Phoenix office represented the seller, a southwestern U.S.-based partnership. Sam Alison and Dan Riley of CBRE’s Los Angeles office represented the buyer, Westlake, Calif.-based DSB Properties.