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.
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.
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.
ACWORTH, GA. — New Jersey-based JPJ Equity II LLC has purchased The Learning Experience, a 12,500-square-foot daycare facility located in Acworth. Harmony Grove Partners LLC sold the property for $3.05 million. Mark Taylor and Dean Zang of Marcus & Millichap’s Philadelphia office represented the buyer; Robert Pfeiffer of Marcus & Millichap’s Atlanta office represented the seller in the transaction.
ELYRIA, OHIO — Cleveland, Ohio-based NAI Daus has brokered the sale of a 45,743-square-foot retail property, located in Elyria, for $7.2 million. The property, which was built in 2007, is anchored by Discount Drug Mart; additional tenants include GameStop, Burger King, Great Clips, Rent-a-Center and CitiFinancial. NAI’s Mark Luttner represented the seller, a private developer, and procured the buyer, Carl Goudas & Associates. The property traded at an 8.16 percent capitalization rate.
EXETER, PA. — Construction is advancing ahead of schedule on Exeter Commons, a 490,000-square-foot retail center in Exeter. Located at the intersection of Business Route 422, Bypass Route 422 and 47th street, Exeter Commons will feature a 132,000-square-foot Target and an 81,000-square-foot Giant Foods, which are both slated to open in late July, as well as a 171,000-square-foot Lowe’s Home Improvement Store, which is slated to open its doors in August. Other tenants include Wells Fargo/Wachovia, Red Robin, Chick-Fil-A, Affinity Bank and a 1,600-square-foot SONIC Drive-In, which will open in late August. Upon completion, the project will be the largest shopping center in Exeter Township. The new center is being developed by Exeter JV Associates, LP, a partnership of The Goldenberg Group and Ironwood Property Group.
BEAUMONT, TEXAS — Mark One Capital has arranged $3.22 million in acquisition financing for Beaumont Fountain Plaza, a 23,524-square-foot, multi-tenant retail center located at 3050 N. Dowlen Rd. in Beaumont. Financing was provided by a commercial bank. Terms of the loan include a 6.04 percent fixed interest rate for the first 5 years, then an adjustable rate. The loan carries a 25-year term with a 25-year amortization schedule, and the loan-to-value ratio was 65 percent. Geoffrey Harris with Mark One’s Phoenix office and Farhan Kabani with the firm’s Dallas office arranged the loan on behalf of the undisclosed borrower.