CHICAGO AND DES PLAINES, ILL. — Chicago-based Titan Commercial, an affiliate of Magellan Development Group, has brokered two transactions totaling approximately $2 million in the Chicago area. In the first transaction, Titan’s Jared Fisher represented Four Corners Tavern Group in the $1.795 million acquisition of a 5,509-square-foot building and adjacent 2,500-square-foot lot at 1508-1510 N. Wells St. in Chicago. The buyer plans to open a new Four Corners Tavern Group concept at the site. Millie Rosenbloom of Baird & Warner represented the seller, a subsidiary of Daniel Levin’s Habitat Co., in the transaction. In the second transaction, Fisher represented Advanced Fiber Products in the 5-year lease of 2,293 square feet of office space at 220 E. Howard St. in Des Plaines. Rick Benoy of Jones Lang LaSalle represented the undisclosed landlord in the deal. The lease value was not released.
NAPERVILLE, ILL. — Centro Properties Group has opened a 39,311-square-foot Hollywood Palms Cinema at its Westridge Court, which is located at Route 59 and Aurora Avenue in Naperville. As a full-service restaurant, bar and movie theatre, Hollywood Palms offers seven auditorium theatres and an extensive menu with full food and beverage service. Centro Properties Group was represented in house by Brad Ratajczak, while Steven Aronow of Integrated Real Estate Services LLC represented Hollywood Palms Cinema.
QUINCY, MASS — Fantini & Gorga (F&G) has arranged $13 million in financing for a ground lease in Quincy. The borrower plans to construct a 102,000-square-foot Lowe's Home Improvement Warehouse on 13 acres at Burgin Parkway, across from the Quincy Adams MBTA Station. The land parcel is part of a 16-acre assemblage; the remaining 3.5 acres include a relocated city park and a land swap with an existing owner. F&G's Tim O'Donnell, Mark Whelan and Andrew Kern negotiated the transaction. The lender is a regional bank.
DALLAS — Dallas-based United Commercial Realty (UCR) has arranged the first lease at Greenspace Center, a planned 32,000-square-foot retail project located at 2001 Greenville Ave. in Dallas. Golden, Colo.-based Natural Grocers will occupy 10,800 square feet as the center's anchor tenant. It will be the company's second Dallas location. UCR's Bill Veatch and Ryan Tinch represented the landlord, Madison Partners. Construction for Greenspace Center will begin in the first quarter of 2010 and is scheduled for completion in the second quarter. The project will be seeking LEED certification.
ALABAMA — Orlando, Fla.-based Cuhaci & Peterson Architects has been selected to remodel two Winn-Dixie supermarkets in Alabama. The stores, which both total 61,500 square feet, are located in Montgomery and Prattville.
ROYAL OAK AND AUBURN HILLS, MICH. — LaKritz-Weber & Co. has completed two retail lease transactions totaling 4,529 square feet in Michigan. In the first transaction, Oberweis Dairy leased 3,141 square feet of space at 32808 Woodward Ave. in Royal Oak. Tony Schmitt and Brooke Wolf of LaKritz-Weber represented the tenant and the landlord, Woodward Samoset Associates LLC, in the transaction. The price was not disclosed. Additionally, Guido’s Pizza inked a deal for 1,388 square feet of space at Dutton Retail Shoppes, which is located at the intersection of Lapeer and Dutton roads in Auburn Hills, for an undisclosed price. LaKritz-Weber’s Schmitt and Gabe Schuchman represented the tenant and the landlord, Dutton South Shoppes, in the transaction.
NORTH KINGSTOWN, R.I. — Integrated Builders has completed construction for the Outside Air Center, an 80,000-square-foot retail component of The Shops at Quonset Point. The project also included 25,000 square feet of shell space for anchor Dave's Marketplace, as well as tenant fit-ups for Supercuts and Hollywood Nails. The project architect is Boston-based Bergmeyer Associates. The Shops at Quonset Point totals 25 acres; it consists of 160,000 square feet of retail space and 40,000 square feet of office space. The Shops at Quonset Point is part of the $80 million Quonset Gateway master-planned project.
BERKELEY, CALIF. — Roessler Investment Group has handled the $3.1 million sale of an Adidas store at 2333 Telegraph Ave. in Berkeley. Located half a block south of Bancroft Way and Sproul Plaza at the University of California, the 4,450-square-foot store has traded at a 6.2 percent cap rate. Jim Roessler of Roessler Investment Group represented the seller, and Golden Pacific Realty’s Bernard Laffer represented the buyer.
DALLAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $9.92 million in financing for the acquisition of the Midwest Triple Net Portfolio, a restaurant portfolio comprising 18 properties located nationwide. All of the restaurants are subject to triple-net leases and a majority are backed by corporate credit. The financing package includes a $5.92 million fixed-rate mortgage and $4 million in preferred equity investment. The borrower is a partnership sponsored by Midwest Restaurant Group. The borrower purchased the portfolio from Spirit Master Funding. Scott Lynn and Sunny Sajnani of MCA arranged the financing package.
ST. LOUIS — Seattle-based Nordstrom Inc. has plans to open its first Nordstrom Rack store in St. Louis. The 34,000-square-foot retail store will be located within the 200,000-square-foot Brentwood Square shopping center. Expected to open in fall 2010, the store will carry merchandise from Nordstrom stores and Nordstrom.com at 50 to 60 percent off original Nordstrom prices. Additionally, the store offers a wide selection of apparel, accessories and shoes from a variety of brands carried in traditional Nordstrom stores.