Retail

COAST GUARD LEASES FORMER CIRCUIT CITY FOR RETAIL EXCHANGE

by admin August 12, 2009

CHESAPEAKE, VA. — The U.S. Coast Guard has leased a 42,697-square-foot former Circuit City from an undisclosed landlord for a Coast Guard Retail Exchange store. The property is located at 1589 Crossways Blvd. in Chesapeake. The store, which is slated for a late October grand opening, will encompass a 3,500-square-foot electronics department, a 4,000-square-foot men’s department and a 4,500-square-foot women’s department. Virginia-based S.L. Nusbaum Realty Co.’s Tommy Drew and Thalhimer’s Troy Parker represented the tenant in the lease.

August 12, 2009

CONSTRUCTION COMPLETE ON CENTRE POINT VILLAGE RETAIL COMPLEX

by admin August 12, 2009

SANTA CLARITA, CALIF. — Whittier, Calif.-based Oltmans Construction Co., serving as general contractor, has completed the construction of Centre Point Village, a 15-acre retail project located in downtown Santa Clarita. The six-building, 133,000-square-foot center features a 58,890-square-foot Dick’s Sporting Goods, a 30,000-square-foot Babies ‘R Us, a 24,970-square-foot Easy Life Furniture, a 7,000-square-foot G Stage Clothing and two pad structures totaling 11,724 square feet. The estimated $22 million project was designed by Long Beach, Calif.-based Perkowitz+Ruth Architects.

August 12, 2009

Retail Western

71,720-SQUARE-FOOT SHOPPING CENTER TRADES HANDS

by admin August 12, 2009

ANAHEIM HILLS, CALIF. — Lin Investments has purchased a 71,720-square-foot neighborhood shopping center in Anaheim Hills. Located at 408-490 Anaheim Hills Rd., the property is anchored by CVS/pharmacy. The sales price was not released. Edward Hanley and Jeremy McChesney of Hanley Investment Group Real Estate Advisors represented the buyer and the undisclosed seller in the deal.

August 12, 2009

Northeast Restaurant

GRIMALDI’S OPENS FIRST STORE IN MANHATTAN

by admin August 12, 2009

NEW YORK CITY — Grimaldi’s, a brick-oven pizzeria, is opening its first location in Manhattan, New York City. The new restaurant will be located at the Rockrose Development Corp.-owned 135 John Street. Construction for the new 5,500-square-foot store is slated to begin this month with an opening set for the end of the year. The space will comprise three floors, a cellar and rooftop dining. The project is being designed by architect Julio Leder-Luis of Leder-Luis Building Designs. One of the unique elements Leder-Luis will be implementing is a glass-front elevator that will go from the street to the roof-top dining area. The space is being leased for a 15-year term with a 5-year option. Winick Realty Group brokered the Manhattan deal. Grimaldi’s also plans to open another location next to 200 Water Street, a 32-story residential rental building also owned by Rockrose. Currently with locations in Brooklyn, Queens, Garden City (Long Island), Hoboken and throughout the Southwest, the Manhattan restaurant will be the 16th Grimaldi’s to open nationwide.

August 12, 2009

Retail Southeast

50,000-SQUARE-FOOT FITNESS CENTER UNDER CONSTRUCTION

by admin August 11, 2009

LOUDOUN COUNTY, VA. — Gaithersburg, Md.-based Hubert Construction has begun building the 50,000-square-foot Brambleton Fitness Center. The property is located in the Brambleton Town Center mixed-use community in Loudoun County. Features of the development include basketball courts, a lounge, indoor and outdoor swimming pools, aerobics rooms and 8,000 square feet of office and retail space.

August 11, 2009

Midwest Retail

FORMER AUTO DEALERSHIP SELLS FOR $1.1 MILLION

by admin August 11, 2009

WHITEHALL, MICH. — LCL Development has acquired a 21,938-square-foot former Ford dealership facility, which is located at 3001 Colby Rd. in Whitehall. Whitehall Real Estate sold the property for $1.1 million. The buyer plans to develop a Save-A-Lot store on the property. Dave Kwekel of Kwekel Cos. represented the buyer; David Denton of Grubb & Ellis|Paramount Commerce’s Grand Rapids, Mich., office represented the seller in the transaction.

August 11, 2009

Northeast Retail

BRESLIN NEARING COMPLETION FOR NEW BANK BUILDING

by admin August 11, 2009

LEVITTOWN, N.Y. — Garden City, N.Y.-based Breslin Realty Development Corp. is nearing completion for the construction of a new HSBC bank branch, located at 3130 Hempstead Turnpike in Levittown. Construction consisted of razing a 10,500-square-foot building located on the property and replacing it with the 4,000-square-foot bank. The new HSBC is across the street from another project Breslin completed, in which a former Sunoco gas station was demolished to make way for a new Walgreens pharmacy.

August 11, 2009

Retail Texas

CROSSROADS MALL SELLS

by admin August 11, 2009

SAN ANTONIO — An affiliate of Trammell Crow Co. has disposed of Crossroads Mall, a 742,000-square-foot shopping center located in San Antonio. Situated on 36.5 acres at 422 Fredericksburg Rd., the property is anchored by Burlington Coat Factory, Hobby Lobby, Stein Mart and Jo-Ann Fabrics. The buyer, a group of San Antonio and Houston investors, has begun a remarketing and rebranding effort for the property. Rusty Tamlyn and Doug Hazelbaker of Holliday Fenoglio Fowler represented the seller in the transaction. The sale price was not disclosed.

August 11, 2009

Retail Western

RETAIL PROPERTY TRADES HANDS FOR $3.6 MILLION

by admin August 11, 2009

ROSEVILLE, CALIF. — Ichord Family Merced Ranch has acquired a fully leased retail building, which is located at 10050 Fairway Dr. in Roseville, for $3.6 million. Tenants at the 7,270-square-foot property include Kragen Auto Parts (CSK Auto/O’Reilly Automotive) and Larry’s Comfort Shoes. The seller was Larry’s Comfort Shoes Fairway Creek. Ed Benoit and Robert King of TRI Commercial/CORFAC International represented both parties in the transaction.

August 11, 2009

Retail Southeast

SHOPPES AT THE ROYALE RETAIL CENTER COMPLETE

by admin August 10, 2009

ST. PETERSBURG, FLA. — Tampa Bay, Fla.-based Hawkins Construction has completed the Shoppes at the Royale, an $11 million, 91,000-square-foot center in St. Petersburg. Located within the Tyrone Shopping District on 66th Street North, the center is anchored by Publix, with additional tenants such as Rib City Grill, Jimmy John`s Gourmet Sandwiches, Massage Envy, Five Guys Burgers and Fries and Chipotle Mexican Grill.

August 10, 2009

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