TENNESSEE — Centro Properties Group has sold a 320,371-square-foot shopping center portfolio to an undisclosed Atlanta-based investment company for an undisclosed amount. The five centers are located in multiple cities in Tennessee. Property tenants include Food Lion, Dollar General, Family Dollar, Burke’s Outlet, Auto Zone and Movie Gallery. Atlanta-based NAI Brannen Goddard’s Ty Underwood and Fain Hicks brokered the sale.
CHICAGO — Chicago-based Baum Realty Group has arranged five retail leases in Chicago and its suburbs. Most recently, the company has arranged a 4,285-square-foot lease located at 1714 North Damen Ave. in Chicago’s Bucktown retail district. The Dailey Method, a unique fitness-training program, is scheduled to open at the space in the spring. Anthony Campagni of Baum Realty Group represented the landlord in the transaction. The tenant was represented by Danny Jacobson of CB Richard Ellis. Additionally, in the Lincoln Park neighborhood of Chicago, Starfruit has signed a lease for 692 square feet of space within Block 37’s pedway. Campagni and Allen Joffe of Baum Realty Group represented Starfruit in securing its third Chicago location. Joffe has also represented Jimmy John’s Gourmet Sandwiches in its lease of 1,930 square feet of space in Willowbrook, Ill. The new store is scheduled to open in the summer. Additionally, Campagni and Joffe have arranged a 2,145-square-foot lease for The Cellular Connection. The store, which is slated to open in the spring, will be located on Route 50 and St. George Road in Bradley, Ill. Finally, Coldwell Banker Real Estate has signed a lease for 4,820 square feet of space within The Shops at …
SAN ANTONIO — Addison, Texas-based SRS Real Estate Partners has arranged a 12,500-square-foot retail lease at The Forum Shopping Center, located at the intersection of Interstate 35 and FM 1604 in San Antonio. The space will be occupied by Furniture Factory Warehouse, which currently has six additional locations. Its newest store is scheduled to open in spring. Todd Wallace and Robert O’Farrell of SRS represented the tenant, while Craig Garansuay of UCR represented the landlord.
SUGAR LAND, TEXAS — Fashion retailer Charming Charlie will open a new location within Sugar Land Town Square, a mixed-use project currently being developed by Planned Community Developers Ltd. (PCD) in Sugar Land. The retailer will occupy 6,640 square feet at 16250 City Walk and plans to open in late March. This newest location will bring the total number of Charming Charlie locations in the Houston metropolitan area to nine. The retailer also has locations in San Antonio, Dallas and Austin. Charlie Adams provided in-house representation for PCD in the lease transaction.
HARTFORD, CONN. — Marcus & Millichap has completed the sale of Charter Oak Marketplace, a 259,056-square-foot retail center located at 475 Flatbush Ave. Built in 2004, the 34.37-acre center comprises a 149,551-square-foot freestanding Wal-Mart, a 76,750-square-foot strip building and numerous pad sites. Wal-Mart’s co-anchors at the center include Marshall’s and Dollar Tree. Pad tenants include McDonald’s, Taco Bell, Popeye’s, Pollo Tropical, and Texas Roadhouse. Sharon Bands of Marcus & Millichap’s Manhattan, New York City, office represented the seller, Centro Properties, and secured the buyer, a New Jersey-based shopping center REIT. The acquisition price was not disclosed but the property listed for $19.25 million.
WINDSOR LOCKS, CONN. — Farmington, Conn.-based Konover Development Corp. has completed construction of a new 14,820-square-foot Walgreens pharmacy located at the corner of Main and Elm streets in Windsor Locks. The location is scheduled to open in early spring. In keeping with the city’s Main Street redevelopment plan, the pharmacy features a pedestrian-friendly design and a façade that complements the adjacent Memorial Hall and the Congregational Church of Windsor Locks — both of which were constructed in the 1880s. Konover also worked with the city to preserve the mature oak and maple trees that line Main Street in front of the new building.
FAIRVIEW, TEXAS — Little Rock, Ark.-based Dillard’s has begun construction for a new 200,000-square-foot store located at The Village at Fairview, a mixed-use development located in Fairview that is being developed by Dallas-based MGHerring Group. Dillard’s will serve as one of three co-anchors for the retail component of the project; the other anchors, JCPenney and Macy’s, broke ground during the fourth quarter of 2008. The 1 million-square-foot retail component of The Village at Fairview is scheduled to open in August. Additional tenants include The Container Store, Village Roadshow Gold Coast Cinema and Whole Foods Market. Plans ultimately call for a 200,000-square-foot office building, approximately 675 multifamily units and a 280-room hotel with an adjoining 80,000-square-foot conference center, in addition to the retail space. The Village at Fairview is part of a 3 million-square-foot mixed-use project MGHerring is developing at the corner of U.S. Highway 75 and Stacy Road. The other part of the project, The Village at Allen, opened in October 2008. Once The Village at Fairview is complete, the two projects will function as a single, 400-acre mixed-use center that will contain 2 million square feet of retail space and 1 million square feet of office, residential and hotel …
GILBERT, ARIZ. — An undisclosed Southern California-based limited liability company has acquired a Wal-Mart Marketside Grocery Store, which is located at 838 W. Elliot Rd. in Gilbert. The 14,841-square-foot property sold for $4.59 million or $310 per square foot. Dave Wetta of Marcus & Millichap’s Phoenix office represented the buyer; Kevin Boeve and Lior Regenstreif, also of Marcus & Millichap, represented the undisclosed seller in the transaction.
ORLANDO, FLA. — Tinwood, a joint venture between Regency Centers and Publix, has sold the 83,167-square-foot Regency Village to Regency Village Associates for $13.75 million. The Publix-anchored center, located at the intersection of International Drive South and Vineland Avenue in Orlando, is 88 percent occupied. Tenants in the property include Subway, The UPS Store amd Sony JVC Superstore. Jim Michalak of Tampa, Fla.-based Plaza Advisors brokered the sale.
CORTLANDT, N.Y. — White Plains, N.Y.-based Acadia Realty Trust has purchased Cortlandt Towne Center, a 640,000-square-foot regional shopping center located within the town of Cortlandt in Westchester County. The property was purchased through Acadia Strategic Opportunity Fund III LLC, which is Acadia Realty Trust’s third discretionary investment fund. Anchors at the center include Wal-Mart, A&P Food Market, Marshalls, Barnes & Noble, Regal Entertainment Group and Best Buy. The cost of the all-cash acquisition was $78 million.