HOUSTON AND ATASCOCITA, TEXAS — Chipotle Mexican Grill has signed leases for two new locations in metropolitan Houston. In northwest Houston, the restaurant signed a ground lease for a 15,432-square-foot location within Vintage Park Shopping Center, located at the intersection of Tomball Parkway and Louetta Road. Debbie Knox of H-E-B, also the anchor of the center, provided in-house representation for the landlord. Matt Keener, Russell Janicek and Mark Raines of CB Richard Ellis (CBRE) represented Chipotle. In Atascocita, Chipotle leased 2,261 square feet of space at the West Lake Crossing retail center. Alex Makrus and Jazz Hamilton of CBRE represented the landlord, Trammell Crow Co. Chipotle was again represented by Keener, Janicek and Raines. Terms of the leases were not disclosed.
Retail
MONTGOMERY, ALA. — A 117,000-square-foot Lowe’s Home Improvement Warehouse will join the tenants at Chantilly Station in 2010. The Montgomery property currently houses a 200,000-square-foot Wal-Mart Supercenter. Four outparcel locations will also join the development. Chantilly Station was developed by Montgomery-based McClinton & Co. in 2007.
BALTIMORE COUNTY, MD. — DB Cardinal Mac has sold a 7,400-square-foot Romano’s Macaroni Grill to Scranton Realty for $2.7 million. The property is located at 9701 Beaver Dam Rd. in Baltimore County and is one of seven Romano’s restaurants in Maryland. Gil Neuman of KLNB Retail’s Washington, D.C., office brokered the sale.
FLOWER MOUND, TEXAS — Brad and Gavin Kam of Dallas-based commercial real estate investment sales and advisory firm TKG recently closed the sale of Towne View Shopping Center in Flower Mound. The 31,939-square-foot retail center, which is located off of the intersection of Long Prairie and Flower Mound roads, includes tenants such as Anamia’s Tex Mex Restaurant, i Fratelli Pizza and Edohana Sushi. TKG represented the buyer, a Texas-based limited partnership, in the sale. A local property owner was the seller.
KENOSHA, WIS. — Marcus & Millichap has brokered the sale of Glenwood Crossings Shopping Center, a 77,504-square-foot retail property located in Kenosha. The grocery-anchored property is situated at the corner of 30th Avenue and 18th Street. Occupancy was 95 percent at the time of closing. Stephen Rachman, Brian Parmacek and Scott Niedergang of Marcus & Millichap’s Downtown Chicago office represented both undisclosed parties in the transaction. Non-recourse acquisition financing was provided through a regional lender.
SEATTLE — Marcus & Millichap has brokered the sale of a Blockbuster, which is located at 10640 16th Ave. S.W. in Seattle. The 5,066-square-foot single-tenant, net-leased property sold for $865,000. Amit Niranjan, Akash Niranjan and Dino Christophilis of Marcus & Millichap represented both undisclosed parties in the transaction.
PHILADELPHIA — Marc Mandel of Fameco Real Estate has represented Wingstop in two of its first leases in the Philadelphia area. The retailer plans to expand across the region with an initial focus in urban locations. The first restaurant recently opened and is located at the intersection of Broad Street and Cecil B. Moore on Temple University’s campus. The second unit, set to open this summer, is located on Roosevelt Boulevard at Red Lion Road in the northeast section of Philadelphia. Plans for a third restaurant are underway.
ORLANDO, FLA. — BFC Development Corp., a division of Winter Park, Fla.-based Battaglia Group, has named Publix anchor of the Golden Eagle Village shopping center. Publix will occupy 45,600 square feet of the development, leaving 18,350 square feet and two outparcels for additional tenants. The property, located on U.S. Highway 27 in Orlando, will break ground in early 2010.
NAPLES, FLA. — Fort Myers, Fla.-based J.L. Wallace will break ground on a 12,900-square-foot CVS/pharmacy for CDI Development Services on April 9. The property will be located at 8831 Immokalee Rd. in Naples. Tampa, Fla.-based Robert Reid Wedding Architects and Planners designed the project and Naples-based Coastal Engineering Consultants will provide engineering services.
OKLAHOMA CITY AND TULSA, OKLA. — Indianapolis-based Simon Property Group has refinanced two of its Oklahoma shopping malls. In the first transaction, Simon secured a $100 million loan for Penn Square Mall, located in Oklahoma City. The loan includes a 7.75 percent interest rate and a 7-year term. The property’s previous mortgage carried a 7.03 percent interest rate and a $65.8 million principal. In the second transaction, Simon secured $97.5 million for Woodland Hills Mall, located in Tulsa. The loan carries a 7.79 percent interest rate and a 10-year term. The previous mortgage carried a $78.6 million principal at a 7 percent interest rate. Financing in both transactions was provided by major life insurance companies.