PASADENA, MD. — Baltimore-based St. John Properties has completed a $3 million renovation of the 161,000-square-foot Lakeshore Plaza shopping center. The property, which was constructed in the 1980s, is located near the intersection of Maryland Route 100 and Magothy Beach Road in Pasadena. KANN Partners designed the project, which includes a 7,000-square-foot addition. Additionally, Dollar General has signed on to move into 9,000 square feet of space at the shopping center in February.
EAST ST. LOUIS, ILL. — SEVENS, a sports lounge and entertainment venue, has opened at Casino Queen in East St. Louis. The $2.15 million, 6,250-square-foot facility features high-definition flat screen televisions, a retractable projection screen and a 360-square-foot elevated stage, as well as a dining menu and full service bar. St. Louis-based KAI Design and Build provided architectural services for the property. Legacy Building Group served as general contractor. Additional project partners include AmeriStructure, Ford Food Service, Lighting Solutions and Cignal.
ALLEN, TEXAS — A Chase Bank branch property located in Allen has sold for $1.77 million. The 4,400-square-foot building was built in 2006 and is located at 1204 Angel Pkwy. Chris Thompson of Los Angeles-based Investment Real Estate Associates represented the buyer, a family trust. Ryan Butler and Brad Moulder of Stan Johnson Co. represented the seller, NEC Angel/Exchange, LTD.
GILBERT, ARIZ. — Eagle Commercial Realty Services has brokered the $2.75 million sale of the leasehold interest in a freestanding Walgreens Pharmacy, located at 754 North Higley Rd. in Gilbert. Eagle Commercial’s Alan Davidson and Jeffery Gorden represented the seller, Gilbert Brown Southwest LLC, along with co-trustees Wells Fargo Bank N.A. and the University of Southern California. Amer Kasm of AZUR Realty Partners represented the undisclosed buyers.
ARLINGTON HEIGHTS, ILL. — MBH Motors has completed the disposition of a 2.1-acre commercial site located at 2020 E. Northwest Highway in Arlington Heights. A local real estate investment group purchased the property for $1.3 million. The buyer plans to raze the existing structures and redevelop the property. Charles Des Rosiers of Cushman & Wakefield of Illinois brokered the transaction.
FORT WAYNE, IND. — NAI Harding Dahm has brokered two lease transactions in Fort Wayne. In the first transaction, Russell Jehl of NAI Harding represented Absolute Tan in the lease of space at 1618 St. Joe Center Rd. in Fort Wayne. Stanley Phillips, also of NAI Harding, represented the landlord, Washington Square Indiana. In the second transaction, Phillips represented Alter Professional Salon in the lease of a property located at 10104 Woodland Plaza Cove, Suite B, in Fort Wayne. Steve Chen, also of NAI Harding, represented the owner, Tazian Properties, in the transaction.
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.