HOUSTON — Two new tenants have opened at Vintage Park, a 500,000-square-foot retail center located in Houston. The first tenant, Jeanne’s Monogramming & Gifts, is relocating from its Louetta Road and Champions Drive locations, also in Houston. The second tenant is restaurant Peli Peli. Its new location on Vintage Park’s piazza features a full bar and lounge, as well as outdoor dining. In July, Vintage Park will see the opening of Wacky Mongolian, a quick-service stir fry restaurant. Also opening soon will be restaurants Luxe Bar & Lounge, Coco’s Crepes & Coffee and Trio Prime Steakhouse & Bar, as well as service tenants Heritage Texas Properties and Kickerillo Cos. Vintage Park, which is being developed by locally based Interfin Cos., is the 84-acre retail component of a 630-acre master-planned community named The Vintage.
PHOENIX — Faris Lee Investments has completed the sales of four ground-leased single-tenant retail properties for a combined total of $4.59 million. Located at Paradise Valley Mall in Phoenix, the properties include Arby’s/Wendy’s, Jared Galleria of Jewelry, Bank of America and Children’s World. Orange County, Calif.-based Niguel Partners acquired the 68,820-square-foot Arby’s/Wendy’s location for $1.08 million; Lang Family Trust purchased Jared Galleria of Jewelry for $1.5 million; Commercial Realty Group acquired Bank of America for $1.54 million; and Maverick and EJM Properties purchased Children’s World for $475,000. Richard Walter and Donald MacLellan of Faris Lee represented the seller, Macerich, in the transaction.
ARTESIA, CALIF. — Ron Duong of Marcus & Millichap represented the buyer in the acquisition of Gridley Plaza, a retail building located at 18300 Gridley Rd. in Artesia. The 30,678-square-foot property sold for $3.75 million. At the time of acquisition, the property was 72 percent occupied. Christopher Maling and David Maling of Marcus & Millichap represented the undisclosed seller in the transaction.
NAPLES, FLA. — Fort Myers, Fla.-based J.L. Wallace has finished construction of a 37,380-square-foot clubhouse for Lennar Homes. The property, located at 10154 Heritage Bay Blvd. in Naples, houses a restaurant and bar, two saunas and a golf pro shop. Fort Myers-based Titsch & Associates provided design services.
EASTON, PA. — Philadelphia-based Colliers Lanard & Axilbund (CLA) has completed the sale of the former Lincoln Textile site, located at the corner of Old Philadelphia Pike and St. John Street in Easton. One of the buyers, NIDI Group, plans to demolish the site and redevelop it into an 8,000-square-foot retail strip center. At the same location, CVS/pharmacy purchased a 12,900-square-foot pad site and plans to develop a new store that will anchor the retail development. Demolition has already begun and construction is expected to be complete in the fall. Derek Zerfass of CLA represented the seller, Philadelphia Road Development, as well as the two buyers.
HOUSTON — Grubb & Ellis has brokered the sale of a 13,500-square-foot retail property located in Houston. The freestanding building is situated at 5920 Telephone Rd. Gus Lagos with Grubb & Ellis’ Houston office represented the local buyer, 5920 Telephone LLC, as well as the seller, The Grocers Supply Co., in the transaction. The acquisition price was not disclosed.
LOS ANGELES — Los Angeles-based BH Properties has received a loan for $59 million for the financing of a 12-property portfolio. The properties, which consist of retail, warehouse and office, are located in Oregon, Florida, Georgia, Utah, Virginia, Texas, Kansas and California. Funded by Wells Fargo’s Real Estate Banking Group, the loan features a 2-year term with a 1-year extension option.
D’IBERVILLE, MISS. — ULTA, Dress Barn, Mattress Direct, Mystic Salon & Spa, Five Guys Burgers & Fries, GNC, Ice Cream & More and Splendor Salon are slated to move into The Promenade in D’Iberville when the center starts opening this fall. The 700,000-square-foot power center is being developed by Chattanooga, Tenn.-based CBL & Associates Properties and Atlanta-based Forum Development Group. The Promenade’s anchors will include Target, Kohl’s, Best Buy and PetSmart.
COLUMBUS AND CINCINNATI, OHIO — Retailer hhgregg is opening two new locations in Ohio. The first location will be in the space formerly occupied by Circuit City at Tanglewood Plaza, a 250,000-square-foot shopping center located on Hilliard-Rome Road in Columbus. The second location will be at King’s Mall, a 186,909-square-foot center located at the interchange of Interstate 71 and Fields Ertel Road in Cincinnati. The Tanglewood Plaza location will open this summer and the King’s Mall location will open this fall. Both retail centers are owned by Columbus-based CASTO.
MANSFIELD AND CANTON, OHIO — McKinley has be appointed receiver for two Ohio properties. The first is a two-building, 20,216-square-foot shopping center located at 2010-2016 August Dr. and 68 Briggs Dr. in Mansfield. The second property is a 22,480-square-foot office building located at 4368 Dressler Rd. in Canton. The property contains a mix of office and medical tenants. The appointments were made by the Court of Common Please for Richland County and Stark County, respectively.