CAROL STREAM, ILL. — Mid-America Real Estate Corp. has brokered the sale of a 21,153-square-foot retail center located on the southwest corner of Schamale Road and North Avenue in the Chicago suburb of Carol Stream. Chicago-based Lee Crossings LLC has purchased the recently-constructed development from Indianapolis-based Integrity Development Partners for $5.1 million. The convenience-oriented center is anchored by Starbucks Coffee and Ideal Fitness. Benjamin Wineman of Mid-America represented the seller and dealt directly with the buyer in the transaction.
NEW YORK CITY — Winick Realty Group has completed a long-term lease for the vacant Metro movie theater, located at 2626 Broadway in Manhattan, New York City, to Urban Outfitters. The Philadelphia-based apparel retailer signed a 20-year net lease and plans to open at the location within 12 months. The Art Deco theater was constructed in 1932 and features 50-foot ceilings. It will go through an extensive renovation in preparation for Urban Outfitters’ occupancy, including the preservation of the building’s landmark exterior. Benjamin Fox and Joshua Singer of Winick represented the landlord, John R. Souto. Wade McDevitt from The McDevitt Company and Beth Rosen of Robert K. Futterman & Associates represented Urban Outfitters.
SECAUCUS, N.J. — Irvine, Calif.-based LA Fitness will open a 45,000-square-foot sports club at 450 Harmon Meadow Blvd. in Secaucus, within the Harmon Meadow mixed-use development. The property is located adjacent to a 1,000-space parking garage. The sports club will include full-length basketball courts, a three-lane lap pool, a whirlpool, locker rooms, and separate studios for aerobics, group exercise and stationary bikes. These amenities will surround an array of cardio and circuit training equipment, as well as free weight areas. The new LA Fitness will also offer classes and childcare services. The existing building on the property will be extensively renovated to make way for the new sports club, including the addition of a 3,500-square-foot mezzanine for cardio equipment. The grand opening is scheduled for late fall. It will mark New Jersey’s eighth LA Fitness and the first to be located in the Meadowlands area. Harmon Meadow is owned by locally based Hartz Mountain Industries. Constructed in 1984, the project has seen recent construction, including the renovation of the Plaza Courtyard, which was completed in August 2008, and the redevelopment of Mill Creek Mall.
JOLIET, ILL. — May Center Advisors has brokered the sale of Southfield Retail Center located north of Interstate 80 along Houbolt Road in Joliet. The fully leased property houses 13,200 square feet of retail space. Tenants at the center include Subway and Dunkin’ Donuts. May Center Advisors represented the undisclosed seller in the transaction. The acquisition price was not disclosed.
TAMPA AND OCALA, FLA. — A California-based realty firm has purchased two Florida facilities from U-Store-It for a combined $5.06 million. The 60,900-square-foot U-Store-It Tampa sold for $2.81 million, and the 42,091-square-foot U-Store-It Ocala sold for $2.25 million. Michael A. Mele and Chico LeClaire of Marcus & Millichap’s Tampa and Denver offices, respectively, represented both parties in the transaction.
GROVE CITY, OHIO, AND HILLSBORO, MO. — Marcus & Millichap has arranged the sale of a 10,325-square-foot retail property located at 4108 Buckeye Pkwy. in the Columbus suburb of Grove City. The Parkway Centre East Outlot is part of the larger Parkway Centre, which houses Wal-Mart, Target, Best Buy and The Home Depot. Tenants at the fully leased Parkway Centre East include AT&T, Casual Male, My Family Dentistry and Jersey Mike’s Subs. A private investor has purchased the outlot from a local developer for $3.5 million. John Reehil in the Columbus, Ohio, office of Marcus & Millichap represented the seller; Christopher Sands in the Encino, Calif., office of Marcus & Millichap represented the buyer in the transaction. Additionally, the St. Louis office of Marcus & Millichap has brokered the sale of Hillsboro Plaza, an 11,930-square-foot retail center located at 10650 Highway 21 in Hillsboro. A local private investor has purchased the center from a Chicago-based developer for $950,000. Tenants at the center include Movie Gallery, Quick Cash Financial and Happy China. Christopher Pollnow and Gregory Tobben of Marcus & Millichap represented both parties in the transaction.
HARTFORD, CONN. — Lakewood, N.J.-based Paramount Realty has acquired Charter Oak Marketplace, a 300,000-square-foot shopping center located on Flatbush Avenue in Hartford. Constructed in 2005, the shopping center is anchored by a 150,000-square-foot Wal-Mart. Additional tenants include Marshall’s, PCX, Expressions, Dollar Tree, Payless Shoe Source, Sally’s Beauty Supply, Radio Shack, Sleepy’s, GameStop, AT&T Mobility, Dunkin Donuts, McDonald’s, Taco Bell, and recently opened stores Rainbow and Pollo Tropical. Charter Oak Marketplace is fully occupied except for a 5,000-square-foot pad site. Paramount acquired the property from Centro Properties, which was represented by Marcus & Millichap. The acquisition price was not disclosed.
TYLER, TEXAS — Henry S. Miller Brokerage (HSMB) has arranged the sale of a 19.8-acre development site located at the intersection of Interstate 20 and FM 14 in Tyler. Knoxville, Tenn.-based Pilot Travel Centers acquired the parcel and plans to construct a new, full-service travel center on the site. Jerry Yoder of HSMB’s Dallas retail division was the sole broker in the transaction between Pilot and the seller, Yoder Partners, Ltd. The acquisition price was not disclosed.
CAMDEN, N.J. — The grand opening has been held for Market Street Pizzeria & Italian Bistro, a new restaurant located at One Market St. in Camden. The restaurant, which is owned by Jeff Anastasi and Joe Cavalieri, is situated on the ground floor of The Victor Lofts, a 341-unit luxury loft apartment building owned by Philadelphia-based Dranoff Properties. The Victor is located on the Camden waterfront, and consists of the adaptive reuse of the historic RCA Victor cabinet manufacturing building. Market Street features seating for 34, as well as take-out and delivery service for residents of The Victor. Other retailers at The Victor Lofts include The Victor’s Pub, Susquehanna Bank, Miss G’s, Park ‘N Clean Dry Cleaners, Symphony in C and Rita’s Water Ice.
EVANS, GA. — Crosland has begun construction on the 100,000-square-foot Riverwood Town Center in a joint venture project between the company and Meybohm Commercial Properties of Augusta, Ga. The center will serve as the retail side of the master-planned Riverwood Plantation golf community. Located at the intersection of Washington Road and William Few Parkway in Evans, the retail space is anchored by a 45,600-square-foot Publix. The grocery store, which will be joined by an 11,745-square-foot CVS/pharmacy, will open this fall. A bank, restaurants and service-oriented retailers are being targeted for the remaining space.