PASADENA, TEXAS — El Rincon Guanaco Restaurant has opened a 3,136-square-foot location within Parkview West, a retail property located at the corner of Blueberry Lane and Spencer Highway in Pasadena. Kay Walker of Centro Properties Group provided in-house representation on behalf of the landlord in lease negotiations. Terms of the lease were not disclosed.
HOUSTON AND THE WOODLANDS, TEXAS — The Houston office of CB Richard Ellis (CBRE) has arranged two Texas restaurant leases. In Houston, Ruby Tequila’s Mexican Kitchen signed a lease for 6,800 square feet within Commons at Willowbrook, a retail property located at the corner of FM 1960 and Highway 249, across from Willowbrook Mall. CBRE’s Alex Makris, Jazz Hamilton and Matt Keener represented the landlord, Commons at Willowbrook Inc. The tenant was represented by Greg Slusky of The Retail Connection. Makris, Hamilton and Keener were also involved in the leasing of 6,000 square feet of space at Woodlands Plaza, located at 30420 FM 2978 in The Woodlands, by San Miguel de Allende Bar & Grill. The trio represented the landlord, OP1-Reno LP. The tenant was represented by Gabriel Medina of Keller Williams. Terms of both leases were not disclosed.
ARNOLD, MO — Marcus & Millichap has arranged the sale of a 2,400-square-foot, single-tenant, net-leased 7-Eleven for approximately $800,000. Christopher Pollnow and Kevin Limbert of Marcus & Millichap represented the undisclosed, locally based seller in the disposition of the convenience store, which is located at 3695 West Outer Rd. The buyer, a private investor, was represented by David Ching of Marcus & Millichap’s Oakland, Calif., office.
BOSTON — Boston-based retailer Filene’s Basement has filed for Chapter 11 bankruptcy protection. Concurrently, the company has entered into an agreement to sell 17 of its 25 locations to an affiliate of New York-based Crown Acquisitions, including its flagship stores in Boston and New York City’s Union Square. Crown plans to continue normal operations at the locations. The sale is subject to an auction by the U.S. Bankruptcy Court, under which additional offers for the 17 stores, the remaining Filene’s Basement stores and the retailer’s other assets must be solicited.
EDGEWATER, N.J. — CVS/pharmacy has signed a lease for 11,000 square feet of space at Edgewater Square, a new mixed-use development currently under construction in Edgewater. CVS is the first retail tenant to sign at the project, which will ultimately include 100,000 square feet of retail and restaurant space. The pharmacy will be constructed on a pad site visible from River Road; groundbreaking is expected to occur this month. Edgewater Square is being developed by Levin Management Corp. In addition to the retail component, the project will feature 480 loft and townhome residences, a hotel, the new Edgewater Borough Hall and a 1,900-foot long river walk along the Hudson River.
CORPUS CHRISTI, TEXAS — Corpus Christi-based NAI Cravey Real Estate Services, together with Boca Raton, Fla.-based NAI Merin Hunter Codman, has brokered a 20,000-square-foot lease at Mission Plaza in Corpus Christi. ZLB BioPlasma, a plasma collection agency, will occupy the space within the 162,000-square-foot shopping center, which is located at 4977 Ayers St. ZLB’s relocation to Mission Plaza more than doubled the size of its original facility. The landlord, as well as the terms of the lease, was not disclosed.
KENDALL, FLA. — Loehmann’s will open a 25,699-square-foot store next spring in Kendall’s The Palms at Town & Country development. Located at 8268 Mills Dr., the shopping center will span 400,000 square feet when completed. The property is being developed by Coral Gables, Fla.-based Flagler Development Group in phases, with the first 153,563 square feet of space set for completion this fall. Karen Sanzo and Mauro Olivieri of Jones Lang LaSalle represented the tenant in the lease.
MENDOTA HEIGHTS, MINN. — St. Paul, Minn.-based Paster Enterprises has received final approval for the redevelopment and expansion of Mendota Plaza, a 48,000-square-foot retail property located in Mendota Heights. Construction includes a renovation to the existing building, as well as parking lot and landscape improvements. Three new buildings will be constructed, including a 14,820-square-foot Walgreens, a new 12,000-square-foot retail building and a 7,6000-square-foot restaurant building. Groundbreaking is expected to occur this fall, with completion expected by fall 2010. Tentative plans also call for the construction of senior housing, office space and a child care facility between 2011 and 2013, but this is contingent on market demand.
JENKINTOWN, PA. — Philadelphia-based Michael Salove Company Commercial Real Estate has arranged a lease for 2,489 square feet in Jenkintown on behalf of Qdoba Mexican Grill. The fast-casual Mexican restaurant will occupy space at 261 Old York Rd. within Jenkintown Pavilion, a development of The Galman Group. The new location is expected to open this summer. Douglas Green of Michael Salove Co. represented the tenant in lease negotiations. Qdoba currently has 11 restaurants in the Philadelphia market, with an additional seven restaurants under development throughout the region.
WILLIAMSTOWN, MASS. — Boston-based EagleBridge Capital has arranged $825,000 in construction and permanent mortgage financing for Williamstown Plaza, an 8,900-square-foot retail project located at 384 Main St. in Williamstown. The project consists of the renovation of a 2,600-square-foot, former Alcaro Car & Leasing, as well as the addition of 6,300 square feet of retail and professional space. Tenants signed include Subway, Royal Cleaners and Wash & WiFi Laundry. EagleBridge’s Ted Sidel and Brian Sheehan arranged the loan on behalf of the undisclosed borrower with a regional thrift institution. The loan includes a 10-year term and a 25-year amortization schedule. The construction timetable was not released.