Retail

CASINO QUEEN TO BUILD NEW SPORTS BAR AND ENTERTAINMENT VENUE

by admin July 13, 2009

EAST ST. LOUIS, ILL. — Groundbreaking has occurred for a new $2.15 sports bar and entertainment venue for The Casino Queen, a casino and resort located at 200 S. Front St. in East St. Louis. Known as SEVENS, the venue will feature 16 high-definition televisions, a retractable projection screen, museum cases that feature St. Louis Cardinals memorabilia and a 360-square-foot performance stage near a dance floor. SEVENS is expected to open this fall. St. Louis-based KAI Design & Build is serving as projects architect with Legacy Building Group serving as general contractor. The Casino Queen recently completed a $2.2 million hotel renovation project.

July 13, 2009

CHUY’S OPENS DOORS AT ARLINGTON HIGHLANDS DEVELOPMENT

by admin July 13, 2009

ARLINGTON, TEXAS — Chuy’s, an Austin, Texas-based Tex-Mex concept, has opened its new location in Arlington. The restaurant is located at The Retail Connection’s Arlington Highlands development, a 1.5-million-square-foot power center at the northeast corner of Interstate 20 and Matlock Road. Dallas-based Foremark handled the acquisition, entitlement and project management of the site. Parkway Construction & Associates managed the building’s design and construction. This marks Chuy’s third location in the Dallas/Fort Worth market.

July 13, 2009

Restaurant Texas

MOODY RAMBIN INTERESTS BROKERS SALE OF NNN INCREDIBLE PIZZA

by admin July 10, 2009

VICTORIA, TEXAS — Moody Rambin Interests has brokered the sale of a 27,665-square-foot NNN Incredible Pizza, located at 3706 Navarro St. in Victoria. Chris Dray and Derek Hargrove of Moody Rambin Investment Services represented the seller, Victoria Incredible Pizza Group. The buyer was Fuldner Enterprises.

July 10, 2009

Retail Southeast

126,000-SQUARE-FOOT SHOPPING CENTER ACQUIRED, UPGRADES PLANNED

by admin July 10, 2009

ATLANTA — A joint venture between Alex. Brown Realty and affiliates of Healey Weatherholz Properties has purchased the 126,000-square-foot Shops Around Lenox retail center from an undisclosed seller. The single-story property, which was built in 1979, is located on Around Lenox Road in Atlanta. State Farm Life Insurance Co. provided debt financing for the acquisition; HW Lenox, an affiliate of Healey Weatherholz, provided $4.2 million, and ABR Chesapeake Fund III contributed $6.3 million. The buyers are planning a renovation starting this winter, which will be complete by next spring. Upgrades include new exterior finishes, adding public art and bringing in new retailers. Current tenants will remain open during construction.

July 10, 2009

Midwest Retail

MARCUS & MILLICHAP BROKERS 128,852-SQUARE-FOOT RETAIL SALE

by admin July 10, 2009

CHAMPAIGN, ILL. — Marcus & Millichap has brokered the sale of a 128,852-square-foot retail property, located at 913 W. Marketview Dr. in Champaign. The big box property was originally built as a Wal-Mart and later converted into a Steve & Barry’s. The buyer is an owner/user that plans to use the location for a farm and home merchandising concept. Mark Hellwig and Drew McElligott represented the seller, a national REIT. The acquisition price was not disclosed.

July 10, 2009

Midwest Retail

NORTHMARQ ARRANGES $3.8 MILLION LOAN FOR RETAIL CENTER

by admin July 10, 2009

PLYMOUTH, MINN. — NorthMarq Capital has arranged $3.8 million in first-mortgage financing for Plymouth Town Center, a 26,330-square-foot retail center located in Plymouth. The property was approximately 95 percent occupied at the time of closing and is shadow-anchored by a Cub Foods grocery store. Brian Hennen of NorthMarq’s Minneapolis office secured the loan, which carries a 10-year term and a 25-year amortization schedule. The borrower was a tenant-in-common structured ownership group and the lender was Thrivent Financial for Lutherans.

July 10, 2009

Retail Texas

GRUBB & ELLIS BROKERS SALE OF TWO RETAIL PROPERTIES

by admin July 10, 2009

HOUSTON — Randy Williams has sold the former Tuscany at Garden Oaks, a 33,250-square-foot retail building located at 835 W. 34th St. in Houston to an undisclosed buyer. Bill Burge and Mark Lehman of Grubb & Ellis represented the seller in the transaction.Additionally, 7321 Harrisburg LLC has purchased a 24,251-square-foot Family Dollar building located at 7321 Harrisburg in Houston from 73rd Street @ Harrisburg LP. Gus Lagos of Grubb & Ellis represented the buyer in the transaction.

July 10, 2009

Retail Western

VINTAGE CAPITAL GROUP ACQUIRES SOUTHBAY PAVILION FOR $50 MILLION

by admin July 10, 2009

CARSON, CALIF. — Brentwood, Calif.-based Vintage Real Estate LLC, a wholly owned division of Vintage Capital Group, has purchased SouthBay Pavilion, a 1.1 million-square-foot retail center located on Avalon Boulevard in Carson. HREG sold the property for $50 million. The property is anchored by Ikea, Target, Sears and JC Penney. Additional stores and restaurants include Old Navy, The Children’s Place, Foot Action, Panera Bread, Panda Express, Sansai Grill, Five Guys, Wingstop and Jamba Juice.

July 10, 2009

Retail Texas

TRANSWESTERN BROKERS SALE OF STEEPLECHASE SHOPPING CENTER

by admin July 9, 2009

HOUSTON — Houston-based Transwestern has brokered the sale of Steeplechase Shopping Center, a 194,000-square-foot community retail center located in Houston. Situated at the intersection of Jones Road and FM 1960 West in the city’s Northwest submarket, the shopping center is occupied by a tenant roster that includes Palais Royal, 99¢ Only, Anna’s Linens and Capital One Bank. The buyer, Schreer Partnership Interests, plans to redevelop the property and add several national tenants. Rudy Hubbard and Leah Gallagher of Transwestern represented the seller, Weingarten Realty Investors. Leasing of the center will be handled by WPW Management.

July 9, 2009

Retail Western

COPPER LANTERN CENTER TRADES HANDS FOR $3.8 MILLION

by admin July 9, 2009

RIVERSIDE, CALIF. — Los Angeles-based Sunnycreek LLC has acquired Copper Lantern Center, a 34,644-square-foot retail strip center located at 8151-8201 Arlington Ave. in Riverside. Orange, Calif.-based Copper Lantern Holdings sold the multi-tenant property for $3.8 million. The 19-tenant property is anchored by 7-Eleven. Jeremy McChesney of Hanley Investment Group represented both parties in the transaction.

July 9, 2009

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