WARREN, MICH. — Southfield, Mich.-based Lee & Associates of Michigan has brokered the leasing of 13,500 square feet of retail space at Universal Shopping Center, located in Warren. The space will be occupied by Petco. Barry Landau of Lee & Associates represented the owner, Universal Mall Properties, in the transactions. Universal Shopping Center recently underwent a renovation.
FORT WAYNE, IND. — Dallas-based United Commercial Realty (UCR) has been selected to manage and lease Jefferson Pointe Shopping Center, located in Fort Wayne. Jefferson Pointe is a 545,000-square-foot lifestyle center. It is anchored by Von Maur, Rave Motion Pictures, Bed Bath & Beyond, and Barnes & Noble. Other tenants include Ann Taylor Loft, ULTA, Coldwater Creek, Old Navy, Chico’s, Eddie Bauer, Talbot’s and Williams-Sonoma. The property is owned by Skokie, Ill.-based Miller Capital Advisory. The property will be managed through UCR Asset Services, and it will be leased through UCR Urban — both of which are divisions within UCR.
TEWKSBURY, MASS. — NAI Hunneman has completed the $1.3 million sale of a 12,000-square-foot boutique retail building in Tewksbury. NAI Hunneman’s Carl Christie and Dan McGee represented seller, F&M Trust, and procured the buyer, 1487 Main Street Realty Trust. Located at 1487 Main St., the building was constructed in 1987 and contains four retail suites totaling 12,000 square feet.
WESTCHESTER COUNTY, N.Y. — Saks Fifth Avenue has signed a letter of intent to anchor Forest City Ratner Companies’ mixed-use development, Westchester's Ridge Hill. The anchor will occupy space on two floors encompassing 80,000 square feet. Currently under construction, Westchester's Ridge Hill will feature 1.2 million square feet of retail and entertainment space. Other tenants include Whole Foods, Banana Republic, L.L.Bean, Cinema De Lux, a multiplex cinema by National Amusements, and dozens of other local and national retailers and restaurants. The mixed-use project will also include approximately 150,000 square feet of office and research facilities. The residential component will comprise up to 1,000 apartments, of which 200 will be for over-55 active adults and 135 will be affordable units. The center is located between the New York State Thruway and Sprain Brook Parkway.
RICHMOND, TEXAS — Construction is complete for a new Kroger Marketplace at Waterside Marketplace, a shopping center located in Richmond that is owned by Jacksonville, Fla.-based Regency Centers. The new grocery and home goods store totals 123,000 square feet. It features Kroger’s normal grocery sections, along with a wine shop, a natural and organic foods section, a drive-thru pharmacy, a Fred Meyer jewelry store and a home furnishing section featuring Ashley brand furniture. The center will hold its formal opening in October. Once that occurs, it will be the largest Kroger Marketplace in the state. Waterside Marketplace is a 147,917-square-foot community shopping center located at the corner of Grand Parkway and Mason Road. It is currently 65 percent leased.
PHOENIX — Quik Trip Corp. has purchased a 1.63-acre land parcel, which is located at 5004 W. Lower Buckeye in Phoenix, for $1.26 million. The company plans to develop a gas station on the property, which is zoned A-1. Steve Parsons of Empire Commercial represented the buyer; Jeff Hays, Chad Neppl and Peter Batchelet represented the seller, Estenson Investments LLC, in the transaction.
DALLAS — Centro Properties Group has leased 4,231 square feet within Skillman Abrams, a shopping center located in Dallas, to Stone Elephant, a bar and grill. The space is situated at the intersection of Skillman Street and Abrams Road near East Northwest Highway. Marcia Minton provided in-house representation for Centro in lease negotiations. The tenant was represented by James Hartsough of Dallas-based Swearingon Real Estate. Terms of the lease were not released.
CHICAGO — Mid-America Real Estate Corp. has signed Aldi to a lease at 1840 North Clybourn in Chicago. Formerly occupied by Bombay Furniture and Leather Creation, the 16,600-square-foot space will be remodeled into a new format by Aldi, which is seeking to complement an existing store location 1 mile north on Clybourn. Paul Bryant and Dan Tausk of Mid-America negotiated the transaction on behalf of landlord, while Craig Lillibridge and Peter Graham of CB Richard Ellis represented Aldi. Existing tenants in the shopping center include Crate & Barrel, Trade Joe’s and J. Alexander.
HAMILTON AND GLOUCESTER TOWNSHIP, N.J. — Columbus, Ohio-based Stanbery Development is wrapping up construction for two New Jersey shopping centers. This month will mark the grand opening of The Shoppes at Hamilton, a 155,000-square-foot center located along Route 130 in Hamilton. In August, Stanbery will open The Shoppes at Cross Keys, a 121,087-square-foot center located at the intersection of Berlin-Cross Keys Road and the Atlantic City Expressway. Both shopping centers will feature locations from Ann Taylor Loft, Anytime Fitness, Banana Republic, Bensi Restaurant Italiano, Chico’s, Coldwater Creek, Gallery Direct, Jos. A. Bank, Justice – Just For Girls, Lane Bryant, New York & Co., Rack Room Shoes, Sleep Number, Spa San Marco and White House|Black Market. Once both properties are open, Stanbery will own six shopping centers in New Jersey.
HAWTHORNE, N.J. — Chatham, N.J.-based David Cronheim Mortgage Corp. has arranged $15 million in permanent financing for Hawthorne Discount Plaza, a retail property located in Hawthorne. The center comprises 110,285 square feet and is situated on 7.7 acres at 111 Wagarow Rd. It is anchored by Value Village; additional tenants include CVS/pharmacy, Dollar Tree, Ace Hardware, Payless Shoesource and Mandee’s. The loan carries a 10-year term and a 30-year amortization schedule. It was arranged by Cronheim’s Anna McGivaren and Andrew Stewart on behalf of the undisclosed borrower. The lender was also not released.