ELLICOTT CITY, MD. — Columbia, Md.-based James M. Jost & Co. is nearing completion on the 18,000-square-foot Centennial Place, a retail and office project located at 1055 Baltimore National Pike in Ellicott City. The property encompasses 9,000 square feet of ground-level retail space and 6,000 square feet of office space. Howard Bank will serve as the lead tenant, occupying 3,200 square feet. The remaining space is being marketed to service providers and professional companies. Columbia-based Brasher Design provided architectural services.
Retail
JANESVILLE, WIS. — Steve Doran of Lee & Associates’ Madison, Wis., office has arranged a 30,431-square-foot lease for Slumberland Furniture. The tenant signed a 10-year, $2.5 million-square-foot lease within a portion of the space once occupied by Wal-Mart at the intersection of Highways 14 and 26 in Janesville. The owner and developer of the site is Northbrook, Ill.-based D&B Development.
CATSKILL, N.Y. — Stan Johnson Co. has negotiated the sale of a 14,550-square-foot, freestanding Walgreens, located in Catskill, for $4.8 million. Brad Pepin of Stan Johnson Co. represented the seller, Point Five Development Catskill, which is also the developer of the property. Todd Curley of Coldwell Banker Commercial Prime Properties represented the buyer, an individual investor participating in a 1031 exchange.
LAKE FOREST, CALIF. — George Holdings Lake Forest LLC has acquired The Shops at Lake Forest, a 122,540-square-foot retail center located at 23818-24422 Rockfield Blvd. in Lake Forest. The center is 95 percent occupied and anchored by Ross Dress for Less, CVS/pharmacy and Petco. Terry Parker of Lake Forest-based Parker Commercial Brokerage Company Inc. represented the buyer; Dan Parker of Parker & Associates Inc. represented the seller, DRB Shops LLC, in the transaction. The acquisition price was not disclosed.
HOUSTON AND ATASCOCITA, TEXAS — Chipotle Mexican Grill has signed leases for two new locations in metropolitan Houston. In northwest Houston, the restaurant signed a ground lease for a 15,432-square-foot location within Vintage Park Shopping Center, located at the intersection of Tomball Parkway and Louetta Road. Debbie Knox of H-E-B, also the anchor of the center, provided in-house representation for the landlord. Matt Keener, Russell Janicek and Mark Raines of CB Richard Ellis (CBRE) represented Chipotle. In Atascocita, Chipotle leased 2,261 square feet of space at the West Lake Crossing retail center. Alex Makrus and Jazz Hamilton of CBRE represented the landlord, Trammell Crow Co. Chipotle was again represented by Keener, Janicek and Raines. Terms of the leases were not disclosed.
MONTGOMERY, ALA. — A 117,000-square-foot Lowe’s Home Improvement Warehouse will join the tenants at Chantilly Station in 2010. The Montgomery property currently houses a 200,000-square-foot Wal-Mart Supercenter. Four outparcel locations will also join the development. Chantilly Station was developed by Montgomery-based McClinton & Co. in 2007.
BALTIMORE COUNTY, MD. — DB Cardinal Mac has sold a 7,400-square-foot Romano’s Macaroni Grill to Scranton Realty for $2.7 million. The property is located at 9701 Beaver Dam Rd. in Baltimore County and is one of seven Romano’s restaurants in Maryland. Gil Neuman of KLNB Retail’s Washington, D.C., office brokered the sale.
FLOWER MOUND, TEXAS — Brad and Gavin Kam of Dallas-based commercial real estate investment sales and advisory firm TKG recently closed the sale of Towne View Shopping Center in Flower Mound. The 31,939-square-foot retail center, which is located off of the intersection of Long Prairie and Flower Mound roads, includes tenants such as Anamia’s Tex Mex Restaurant, i Fratelli Pizza and Edohana Sushi. TKG represented the buyer, a Texas-based limited partnership, in the sale. A local property owner was the seller.
KENOSHA, WIS. — Marcus & Millichap has brokered the sale of Glenwood Crossings Shopping Center, a 77,504-square-foot retail property located in Kenosha. The grocery-anchored property is situated at the corner of 30th Avenue and 18th Street. Occupancy was 95 percent at the time of closing. Stephen Rachman, Brian Parmacek and Scott Niedergang of Marcus & Millichap’s Downtown Chicago office represented both undisclosed parties in the transaction. Non-recourse acquisition financing was provided through a regional lender.
SEATTLE — Marcus & Millichap has brokered the sale of a Blockbuster, which is located at 10640 16th Ave. S.W. in Seattle. The 5,066-square-foot single-tenant, net-leased property sold for $865,000. Amit Niranjan, Akash Niranjan and Dino Christophilis of Marcus & Millichap represented both undisclosed parties in the transaction.