HOLLYWOOD, CALIF. — Suaya Properties has purchased a 6,500-square-foot retail property in Hollywood for $4.2 million or approximately $660 per square foot. Located at 6740 Hollywood Blvd., the property is fully occupied by Fashion Hollywood, a souvenir shop. Nathan Pellow of Colliers International and Matt Sullivan of Lee & Associates represented the buyer and the seller, Maxson Family Trust, in the transaction.
SUGAR LAND, TEXAS — Three restaurants are opening new locations within Sugar Land Town Square, a 32-acre master-planned community located at the intersection of U.S. Highway 59 and Highway 6 in Sugar Land. Escalante’s has opened its fifth Mexican restaurant in the Houston area at 15933 City Walk. It is joined by frozen yogurt and smoothie shop Swirll, which is opening its fourth Houston location next door at 15955 City Walk. Finally, July will mark the opening of Japanese hibachi restaurant Taisho, which will open its sixth Houston-area location on the first floor of the recently completed Minute Maid corporate headquarters building. Phases I and II of Sugar Land Town Square are already complete. They include a 300-room, full-service Marriott hotel and conference center, the new 82,000-square-foot Sugar Land City Hall, 167 mid-rise residential condominiums, 208,000 square feet of office space, 182,000 square feet of Main Street-style retail and restaurant space, and a 1.4-acre pedestrian plaza. Upcoming phases of the project include an additional 357,000 square feet of Class A office space and 56,000 square feet of retail, both of which are scheduled for completion in 2010.
HALLANDALE BEACH, FLA. — An assortment of retailers and restaurants will take up residence in Cleveland-based Forest City Commercial Development’s The Village at Gulfstream Park when it opens on February 11, 2010. The property is located on U.S. 1 in Hallandale Beach. The shopping center is anchored by a thoroughbred racing track and features more than 410,000 square feet of retail space and more than 80,000 square feet of office space. The 32 tenants include the restaurants Texas de Brazil, American Pie Brick Oven Pizza and III Forks; the retailers Fender Rock & Roll Religion, Vogue Couture and Pottery Barn; and two nightclubs.
LILBURN, GA. — Chicago-based DDR/Prudential Real Estate Investors has sold the 73,910-square-foot Five Forks Crossing shopping center to Atlanta-based SWA Investment for an undisclosed price. The fully occupied property, located at 3050 Five Forks Trickum Rd. S.W. in Lilburn, is anchored by Kroger. Robert Mahoney of CB Richard Ellis’ Chicago office represented the seller.
HENDERSON, N.C. — Centro Properties Group has sold the 165,929-square-foot Henderson Square shopping center to Warrendale, Penn.-based H.L. Libby Corp. for $8.25 million. The property, located in Henderson, is anchored by Belk and JC Penney, and Wal-Mart Supercenter serves as a shadow anchor. Gamestop, Dollar Tree, Shoe Show, Bath & Body Works and Avenue also are housed in the center. Tony D’Ambrosio and Joe Montgomery of Atlanta-based Colliers Spectrum Cauble represented the seller.
NEW YORK CITY — Sholom & Zuckerbrot (S&Z) Realty has arranged two 15-year leases for a retail property located at 30-33 Steinway St. in the Long Island City neighborhood of Queens, New York City. Planet Fitness, a national chain of exercise facilities, will occupy 17,000 square feet encompassing the property’s entire basement and second floor, as well as a portion of the ground floor. Pure Nature, a health food store, will occupy 5,000 square feet of ground-floor space. The 25,500-square-foot property was formerly occupied by Young World Children’s Clothing, but had been repositioned as a multi-tenant property after the retailer’s departure. The property currently was 2,500 square feet of space remaining for lease. Douglas Weinstein and Marc Durst of locally based S&Z Realty represented the landlord, Jenel Management, in both transactions, as well as Pure Nature. Ray Villafana of Franchise Realty represented Planet Fitness.
FREEPORT, MAINE — Boston-based Berenson Associates has announced three new retailers and a new restaurant for Freeport Village Station, a 120,000-square-foot outlet retail center located in Freeport. New retailers include Coach Factory Store, Pac Sun and Sunglass Hut. Linda Bean’s Perfect Main Lobster Roll will also be opening its first restaurant at the project. Tenants already announced at Freeport Village Station include L.L. Bean Outlet, Nike Factory Store, Brooks Brothers Factory Store, Calvin, Klein, Van Heusen and IZOD. Upon completion in May, the project will feature more than 30 retailers and restaurants, as well as a 550-space parking deck. It was designed by Somerville, Mass.-based Arrowstreet. In addition, Cole Haan has announced renovations plans for its nearby location, which include a new entrance directly onto the plaza level of Freeport Village Station.
DEDHAM, MASS. — Two fashion retailers have joined the tenant roster at Legacy Place, a 675,000-square-foot, open-air lifestyle center currently under construction in Dedham. Swedish fashion retailer H&M and Brooks Brothers Country Club have signed leases for space within the center, which is scheduled to open in the summer. They will join a tenant roster that includes Whole Foods Market, L.L. Bean, Showcase Cinema de Lux, Borders, King’s Bowling & Billiards, Apple, Anthropologie and Ruth’s Chris Steakhouse, among others. Legacy Place is being developed by Chestnut Hill, Mass.-based WS Development Associates.
CORINTH, TEXAS — Marcus & Millichap has brokered the sale of a Christian Brothers Automotive located on South Interstate 35E in Corinth. The store was constructed in 2007 and is situated on 0.69 acres. It is currently under a 15-year, triple-net lease. Jason Vitorino, Tommy Tucker and Philip Levy of Marcus & Millichap’s Dallas office represented the seller, a Texas-based limited partnership. The property was acquired by a California-based private investor that was represented by a Los Angeles-based broker. The acquisition price was not disclosed.
DENTON, TEXAS — The Denton office of BMC Capital has arranged a $2.4 million acquisition loan for a retail property located at 717 Stemmons Freeway in Denton. The undisclosed borrower plans to use the proceeds to convert the property, a former health club, in office space. The renovation will also add 10,000 square feet to the property. The loan was originated by BMC Capital through Legacy Bank Texas.