FORT PIERCE, FLA. — Tulepan Management has named SLC Commercial leasing agent for its 181,715-square-foot Coral Square Shoppes. The shopping center is currently under development at the intersection of South U.S. 1 and Edwards Road in Fort Pierce. The phased project will include retail, office and restaurant spaces. The 43,000-square-foot first phase will be anchored by a 17,000-square-foot Save-A-Lot Food Store.
WAUKESHA, WIS. — Giuffre XXII has acquired the former Don Jacobs Subaru car dealership, which is located at W226 S1700 Highway 164 in Waukesha, for $2.3 million. The 6.5-acre property features two buildings totaling approximately 45,000 square feet. The buyer plans to re-tenant the existing buildings for automotive use. Dave Hartig and Tom Treder of Commercial Property Associates represented the buyer and the seller, Donald and Jeanne Jacobs, in the transaction.
HUNTINGTON BEACH, CALIF. — Whole Foods Market will occupy the 32,000-square-foot former Circuit City space at the 800,000-square-foot Bella Terra retail center in Huntington Beach. Redesign plans are in the works for both the exterior and interior of the building, with completion scheduled for fall 2010.
WELLTON, ARIZ. — CDC Commercial has brokered the $1.96 million purchase of a Jack in the Box fast-food restaurant located at 28882 Commerce Way in Wellton. Represented by CDC Commercial’s Don Zech, Jimenez 1987 Family Trust purchased the approximately 2,654-square-foot, freestanding building from Delaware-based Jack in the Box Inc. in a 1031 exchange. Brent Hensley of Net Leased Real Property represented the seller.
OLNEY, MD. — Early next year, Carl M. Freeman Cos. will being a $17 million redevelopment of the 110,500-square-foot Olney Town Center in Olney. The project consists of renaming the center Fair Hill, updating the façade, improving the parking lot and adding a plaza area. New tenants will include a 52,000-square-foot Harris Teeter, a 7,000-square-foot Green Turtle Sports Bar and Grille and a 1,600-square-foot Fancier Nails and Spa. Delivery is expected during the fall of 2011.
STARKE, FLA. — A 1031 exchange investor based in Illinois has purchased a 3,737-square-foot Arby’s location from Wendy’s/Arby’s Group for $1.44 million. The property, located on U.S. Highway 301 in Starke, is NNN leased to Arby’s for 20 years. The property is a former Burger King that was converted in September 2008.
HOUSTON — Three new restaurants have joined the lineup at CITYCENTRE, Midway Companies' $500 million, 1.8 million-square-foot mixed-use development located in downtown Houston. Austin-based Eddie V's Prime Seafood is entering the Houston market with a 10,500-square-foot location. Also entering the Houston market is Yard House, an upscale-casual American restaurant that opened an 8,532-square-foot location. Finally, San Francisco-based Straits Restaurant has opened a 6,000-square-foot location on the ground floor of Hotel Sorella. It is the Singaporean restaurant's first location in Texas.
TENNESSEE AND KENTUCKY — Simon Property Group has sold two shopping centers in Tennessee and Kentucky to New York City-based Nassimi Realty for an undisclosed amount. The sale includes the 180,501-square-foot Knoxville Commons in Knoxville, Tenn., and the 119,154-square-foot Park Plaza Shopping Center in Hopkinsville, Ky. Mid-America Real Estate Corp. represented Simon in the transaction. Winbrook Management represented the buyer.
VIRGINIA BEACH, VA. — DBAPPLEF has sold a 5,183-square-foot Applebee’s in Virginia Beach to Good Steward Properties-Kempsville for $1.95 million. The property, which is under a long-term lease to the casual dining chain, is located on Kempsville Road. Alexander Divaris and Jason Oliver of Virginia Beach-based Divaris Real Estate represented the buyer.
LAWRENCE, KAN. — Pride Oil has completed the disposition of 2,970 square feet of retail space, located at 2447 W. Sixth St. in Lawrence. KDL Inc. acquired the property for an undisclosed price. Kelvin Heck of Grubb & Ellis|The Winbury Group represented the seller in the transaction.