CINCINNATI —Marcus & Millichap have brokered the sale of the 214,700-square-foot Best Self-Storage portfolio, which includes properties across the Cincinnati metro area in Northern Kentucky. Self-storage specialists Adam Schlosser and Brett Hatcher of Marcus & Millichap’s Columbus, Ohio, office, along with Aaron Johnson, arranged the $9.9 million sale on behalf of the seller, a local limited liability company. The portfolio was acquired by an undisclosed, non-publicly traded REIT. Facilities are located in Florence, Walton and Crescent Springs, Ken., just across the Ohio River from Cincinnati.
CLERMONT, FLA. — Weingarten Realty Investors will open its 312,604-square-foot Clermont Landing shopping center on March 21. The property, located near the interchange of U.S. 27 and State Route 50 in Clermont, is anchored by JC Penney, Ross Dress for Less, T.J. Maxx and Michaels. Additional tenants include Olive Garden and Red Lobster. When completed, the complex’s 16-screen Epic Theatre will serve as the only move theater in the city.
CHICAGO —Essex Realty Group has arranged the sale of a 7,500-square-foot vacant retail property located at 6241 N. Broadway in Chicago’s Edgewater neighborhood. Doug Fisher of Essex Realty represented both the unnamed seller and buyer in the $825,000 transaction.
PUNTA GORDA, FLA. — Fort Myers, Fla.-based J.L. Wallace Inc. has begun construction for a new Tuffy Automotive Center located at the intersection of U.S. Highway 41 and Airport Road in Punta Gorda. The project will consist of a 5,113-square-foot structure; it will include concrete block construction, a pre-engineered metal roof and glass roll-down doors with a hurricane screen. Titsch & Associates is serving as project architect. The construction timetable was not released.
MONTGOMERY, ALA. — Four new tenants have joined the roster at High Point Town Center, a retail project located at the intersection of Bass Pro Boulevard and Cobbs Ford Road in Montgomery. Avon plans to open a retail store within the project, making it the second retail location for the cosmetics company in the state. It will be joined by Royal Nails, Nestle Toll House Café and Teaching Tree. In addition, construction will begin soon for two more tenants, Tokyo Steakhouse and Bama Fever/Tiger Pride. High Point Town Center is an approximately 750,000-square-foot lifestyle center that is being developed by a joint venture between locally based McClinton & Co. and Birmingham, Ala.-based AIG Baker Real Estate. It is anchored by Bass Pro Shops, Belk, JCPenney, Best Buy and Publix.
HARRISONVILLE, MO. — A 65,000-square-foot Price Chopper grocery store has been completed within The Simmons Companies’ Harrisonville Marketplace development located in Harrisonville. When completed, Harrisonville Marketplace will house 243,895 square feet of retail. The grocery store has relocated to the center from its existing property at Highway 291 and Commercial Street in Harrisonville. The Price Chopper, which features several energy efficient initiatives, also houses Harry’s Liquor Store, Seattle’s Best Coffee, Rice Garden Chinese and a selection of prepared food. The store is scheduled to open to the public on March 25.
CHICAGO — Oakbrook Terrace, Ill.-based Mid-America Asset Management has secured five new tenants at Marshfield Plaza, a 454,000-square-foot Target-anchored urban power center located in Chicago. The most recently signed leases, which total 16,000 square feet, include Anna’s Linens for 8,500 square feet; Simply Fashions for 3,000 square feet; Harold’s Chicken & Solomon’s Fish for 1,900 square feet; Nail Works for 1,400 square feet; and GameStop for 1,200 square feet. While Anna’s Linens is scheduled to open in June and Simply Fashions is scheduled to open in May, Harold’s Chicken & Solomon’s Fish, Nail Works and GameStop were scheduled to open in February. Richard Spinell, Paul Bryant and Mary Beth Menelli of Mid-America represented the landlord, Chicago-based Primestor Development, for all five of the leases. Jim Sakanich of CB Richard Ellis represented Anna’s Linens; Eli Kalman of Matanky Realty Group represented Simply Fashions; and Bill Paul of Xsite Real Estate represented GameStop in negotiations. Harold’s Chicago & Solomon’s Fish negotiated its lease in-house. With its second phase underway, which is anchored by Petco, Jewel-Osco, Staples, Marshalls and LA Fitness, Marshfield Plaza is expected to be fully complete by this summer.
AVON, CONN. — Chatham, N.J.-based Cronheim Mortgage has secured $1.2 million for a single-tenant retail property located at 336 W. Main St. in Avon. The property was constructed in 2002; it comprises a 4,500-square-foot building, a 1,050-square-foot outdoor patio and 17 parking spaces. It is currently occupied by Stonewall Kitchen, a gourmet and specialty foods retailer based out of York, Maine. Terms of the loan include a 10-year term and a 25-year amortization schedule. The lender was not disclosed.
HOLLYWOOD, CALIF. — Suaya Properties has purchased a 6,500-square-foot retail property in Hollywood for $4.2 million or approximately $660 per square foot. Located at 6740 Hollywood Blvd., the property is fully occupied by Fashion Hollywood, a souvenir shop. Nathan Pellow of Colliers International and Matt Sullivan of Lee & Associates represented the buyer and the seller, Maxson Family Trust, in the transaction.
SUGAR LAND, TEXAS — Three restaurants are opening new locations within Sugar Land Town Square, a 32-acre master-planned community located at the intersection of U.S. Highway 59 and Highway 6 in Sugar Land. Escalante’s has opened its fifth Mexican restaurant in the Houston area at 15933 City Walk. It is joined by frozen yogurt and smoothie shop Swirll, which is opening its fourth Houston location next door at 15955 City Walk. Finally, July will mark the opening of Japanese hibachi restaurant Taisho, which will open its sixth Houston-area location on the first floor of the recently completed Minute Maid corporate headquarters building. Phases I and II of Sugar Land Town Square are already complete. They include a 300-room, full-service Marriott hotel and conference center, the new 82,000-square-foot Sugar Land City Hall, 167 mid-rise residential condominiums, 208,000 square feet of office space, 182,000 square feet of Main Street-style retail and restaurant space, and a 1.4-acre pedestrian plaza. Upcoming phases of the project include an additional 357,000 square feet of Class A office space and 56,000 square feet of retail, both of which are scheduled for completion in 2010.