SPEEDWAY, IND. — The Kroger location at Speedway Super Center, located at the intersection of Crawfordsville Road and Interstate 465 in Speedway, has reopened after a more than $9 million expansion and renovation project. The new 94,000-square-foot store is the largest Kroger location in metro Indianapolis. Bob Pionke provided in-house representation for the center’s owner, Centro Properties Group.
Retail
NAPERVILLE, ILL. — Suit House has leased 25,650 square feet of retail space at Westridge Court, which is located on the corner of Route 59 and Aurora Avenue in Naperville. The recently opened store specializes in men’s apparel. John Graves of Oakbrook, Ill.-based SRS Real Estate Partners represented the tenant; Brad Ratajczak provided in-house representation for the owner, Centro Properties Group.
FEASTERVILLE, PA. — Deerwood Real Estate Capital has arranged a $3.9 million loan for the refinancing of a 112,000-square-foot shopping center located in Feasterville. Tenants at the center include Michael's and Dollar Tree. The financing carries a 5-year term and a 25-year amortization schedule. It will be used to refinance an expiring CMBS loan. Deerwood's Abe Katz secured the loan on behalf of the undisclosed borrower. The lender's name was also not released.
HIGHLANDS RANCH, COLO. — Marcus & Millichap has brokered the $3.23 million sale of Village Center at Highlands Ranch, a 9,919-square-foot retail property located at 9579 S. University Blvd. in Highlands Ranch. The property was 100 percent occupied by three tenants at the time of the sale. Marcus & Millichap’s Jon Hendrickson, Michael Fassel and Garrette Matlock represented the seller, a limited liability company, in the transaction.
BIRMINGHAM, ALA. — Inland Western Retail Real Estate Trust has sold a 44,271-square-foot Publix to Cole Capital – Cole Real Estate Investments for $6.1 million. The 5-year-old property, located at 3141 Overton Road in Birmingham, is leased to Publix through November 2024. Jim Hamilton of Holliday Fenoglio Fowler represented the seller.
WILMETTE, ILL. — Reed Construction has completed the construction of the first Beal Bank branch in Illinois. Located at 3232 Lake Ave. in Wilmette, the 1,400-square-foot facility features a granite wall and millwork, which was completed by Herner Geissler Woodworking. Nelson provided architectural services for the project. CB Richard Ellis represented the owners, Dallas-headquartered Beal Bank.
PHILADELPHIA — Indianapolis-based appliance and electronics retailer hhgregg has announced plans to open three new stores in the mid-Atlantic as part of its East Coast expansion. The stores will be located at Christiana Center in Newark, Del.; Paxton Towne Centre in Harrisburg, Pa.; and Wyoming Mall in Wilkes-Barree, Pa. All three power centers are owned by Philadelphia-based Pennsylvania Real Estate Investment Trust.
TEJON RANCH, CALIF. — A $25 million TA travel center has opened within Tejon Industrial Complex (TIC) in Tejon Ranch. The new retail facility offers consumer motorists a 24-pump Chevron gas station; two food courts featuring quick-serve restaurants such as Burger King, Taco Bell, Pizza Hut, Subway and Popeye’s Chicken; a TA Café Express convenience store; and many clean restroom facilities. Professional drivers can find facilities to address all of their truck repair and maintenance needs. Tejon Ranch Co. partnered with TravelCenters of America on the project.
BELLFLOWER, CALIF. — Hanley Investment Group Real Estate Advisors has handled the $2.1 million sale of a multi-tenant retail strip center located at 17141-17167 Bellflower Blvd. in Bellflower. Built in 1980, the 12,155-square-foot Bellflower Plaza was 92 percent occupied at the time of the sale. Hanley Investment Group’s Kevin Fryman and Eric Wohl represented the buyer and the seller, both private investors from Los Angeles, in the transaction.
MT. PROSPECT, ILL. — New York-based Polish and Slavic Federal Credit Union (PSFCU) has entered the Illinois market with a new location at Mt. Prospect Plaza in Mt. Prospect. PSFCU leased 4,326 square feet at the 299,300-square-foot retail center. The credit union plans to open in 2010. Mary Beth Menelli of Oakbrook Terrace, Ill.-based Mid-America Asset Management represented the undisclosed landlord in the transaction. Details of the lease were not released.