BATON ROUGE, LA. — Inland Real Estate Acquisitions has purchased the 156,228-square-foot Siegen Plaza in Baton Rouge from Weingarten Realty Investors for an undisclosed amount. The center, which is shadow-anchored by Super Target, is 98 percent leased. Tenants include Ross Dress For Less, Petco, Rack Room Shoes, Olive Garden and Chick-fil-A.
CHICAGO — Oakbrook Terrace, Ill.-based Mid-America Asset Management has secured five new tenants for Marshfield Plaza, a 454,000-square-foot power center currently underway in Chicago. Chili’s has leased 6,300 square feet; CJ Beauty Supply has leased 4,000 square feet; T-Mobile has leased 3,000 square feet; Subway has leased 1,200 square feet; and Panda Express has leased 2,200 square feet within the center. All of the tenants will open in the spring. Richard Spinell, Paul Bryant and Mary Beth Menelli of Mid-America represented the landlord, Primestor Development of Chicago, in all of the leases. Steve Frishman of Mid-America represented Chili’s; Jim Sakanich of CB Richard Ellis represented CJ Beauty Supply; Meredith Oliver of Metro Commercial Real Estate represented T-Mobile; and Kim McGuire of CB Richard Ellis represented Panda Express in negotiations. The initial phase of the two-phase project was completed in October, and includes a 127,000-square-foot Target store. Upon completion of Phase II in the spring, Marshfield Plaza will include a PETCO, a Jewel-Osco, a Staples and a Marshalls. Located at W. 119th Street and S. Marshfield Ave., the center also features seven outlots, including a bank pad and two multi-tenant buildings.
ELGIN, ILL. — Burlington Coat Factory has leased 70,000 square feet within the Otter Creek Shopping Center located at the intersection of Randall Road and Lake Street in Elgin. The property, which is situated adjacent to a Target store, is a redeveloped Dominick’s grocery store. Additional tenants at the 362,305-square-foot power center include Office Max, Hobby Lobby and Fashion Bug. Burlington Coat Factory is scheduled to open in March. Matt Smetana of Edgemark Commercial Real Estate Services represented the landlord, Otter Creek LLC, in the transaction; Brad Gershman of Gershman, Brown, Crowley Inc. represented Burlington Coat Factory in lease negotiations. Terms of the lease were not disclosed.
BRUNSWICK, OHIO — The Cooper Commercial Investment Group of NAI Daus in Cleveland has brokered the sale of a retail center located at 55-67 Pearl Rd. in Brunswick. The 19,200-square-foot Forest Hills Plaza shopping center was 81 percent leased at the time of the sale. Winbury Group Ltd. has purchased the property from an undisclosed local seller for $1.2 million. Dan Cooper and Bob Havasi of NAI Daus represented the seller in the transaction.
GRAND PRAIRIE, TEXAS — Baltimore, Md.-based Prime Retail has completed leases for 20 new retailers at Prime Outlets – Grand Prairie, a $100 million, 485,000-square-foot outlet retail center owned and operated by the company in Grand Prairie. New tenants at the center, which is located at the interchange of Interstate 20 and State Highway 360, include: Aeropostale, adidas Outlet Store, Bass Outlet, BCBGMAXAZRIA Factory Store, Brooks Brothers Factory Store, Columbia Sportswear, Dooney & Bourke, Easy Spirit Outlet, GUESS, IZOD, Jones New York, Nike Factory Store, Nine West Outlet, Oakley, Perry Ellis, Reebok Outlet Store, Samsonite, Tommy Hilfiger, Totes/Sunglass World and Van Heusen. The new tenants will join previously announced anchors Neiman Marcus Last Call and Saks Fifth Avenue OFF 5TH when the project opens in time for the 2009 holiday season.
CHANDLER, ARIZ. — Phoenix-based Opus West has started construction on Mill Crossing, a 170,000-square-foot retail center located at the southwest corner of Gilbert and Germann roads in Chandler. The center will be occupied by a 104,000-square-foot J.C. Penney, a 10,180-square-foot Shoe Carnival and a 5,000-square-foot Sears, Roebuck and Co., as well as restaurants, including Ah-So Sushi, Teriyaki Experience and Berry Good Yogurt. Additionally, the center will feature stand-alone pads occupied by Commercia Bank, McDonald’s and Native New Yorker. Opus West Construction Corp. is serving as general contractor for the project; BDG and Opus Architects & Engineers are providing architectural services. Completion is slated for fall 2009.
BLUFFTON, S.C. — Hargray Communications has completed a sale/leaseback to Kiawah General Store LLC for a 17,000-square-foot call center building. The property is located at 5 Buck Island Rd. in Bluffton. Michael Carmody of Charleston, S.C.-based CB Richard Ellis Carmody brokered the transaction.
FORT LAUDERDALE, FLA. — Marcus & Millichap Real Estate Investment Services has brokered a Coral Gables, Fla.-based company’s sale of Victory Shopping Center to a Davie, Fla.-based investor for $1.27 million. Located at 3901 S.W. 16th St. in Fort Lauderdale, the 11,350-square-foot center is 100 percent leased. Tenants include Revelation Baptist Church, Smiley Wash Laundry and A Plus Linen Service. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented both parties in the transaction.
LAKE GENEVA, ILL. — AEI Capital Corp. has purchased a 30,162-square-foot Best Buy store located on a freestanding site within the Target-anchored Geneva Commons shopping center in Lake Geneva. The $6 million property was purchased for three of AEI Capital Corp.’s investment funds. The newly constructed Best Buy store opened in March. This is the third Best Buy store that AEI has invested in this year, with two more locations under contract to close before the end of the year.
NEWBURGH, IND. — Holland Construction Services has completed a 63,692-square-foot Schnucks grocery store within Bell Oaks Center in Newburgh. DESCO Group owns the newly constructed store, as well as another Schnucks location in Waterloo, Ill., which was recently completed by Holland. The company has constructed 22 Schnucks stores. In addition to the store, the $6.6 million project included the restructuring of the surrounding retail component. This was Holland’s first project in the state of Indiana.