ROCHESTER HILLS, MICH. — Birmingham, Mich.-based Robert B. Aikens & Associates has signed Aeropostale as the newest tenant in the development firm’s Village of Rochester Hills. The 3,600-square-foot store is expected to open in the summer, within the 357,000-square-foot lifestyle center located in Rochester Hills. The Village is Michigan’s first lifestyle center, and features additional tenants such as Parisian, Abercrombie & Fitch, Jos. A. Bank, J. Crew and Banana Republic.
LEOMINSTER, MASS. — Marcus & Millichap has arranged the sale of a newly constructed Walgreens pharmacy, located at 35 Central St. in Leominster, for $9.35 million. Bob Horvath and Todd Tremblay of Marcus & Millichap’s Boston office represented the buyer, a regional investor, as well as the seller, a regional developer. The property traded at a 6.36 percent capitalization rate.
LOCKPORT, ILL. — On behalf of TCB Development, METRO Commercial Real Estate has secured three tenants within Lockport Square at Farrell Road, which is located between a new Interstate 355 extension and downtown Lockport. Sonic has recently opened its fourth Chicago-area location in a freestanding drive thru building at the site. The new Sonic, which is located at 16031 S. Farrell Rd., is directly south of a Jewel-Osco and across the street from Aldi. Additionally, Vibe has opened within another freestanding drive thru building at the site. The smoothie and coffee shop is located directly south of Sonic at 16105 S. Farrell Rd. Finally, Play It Again Sports has signed a lease for 3,500 square feet of space within the center. Brent Wayburn and Nathan Tonnies of METRO Commercial Real Estate represented TCB Development in all three transactions. Existing tenants at Lockport Square include Chase Bank, GameStop, CiCi’s Pizza, Sherwin Williams and U.S. Cellular.
MANSFIELD, MASS. —Fantini & Gorga has arranged $8 million in construction and permanent financing for Mansfield Marketplace, a 23,840-square-foot retail center that is being developed by Hecht Development near Route 140 in Mansfield. Construction will comprise two freestanding buildings; tenants already signed on include AT&T, Sleepy’s and Chipotle Mexican Grill. John Gorga and Joe Eddy of Fantini & Gorga originated the loan with a regional bank. Terms of the financing were not disclosed.
HEMPSTEAD, N.Y. — Floris Spa has opened a new 5,336-square-foot location within East Meadow Commons, located at the intersection of Hempstead Turnpike and Wantagh Parkway in Hempstead. The spa operates a 25-store chain, with four other locations on Long Island. East Meadow Commons is owned by New York City-based Nassimi Realty. The company began renovations to the then 52,000-square-foot center in 2006, including converting a former roller skating rink into 30,000 square feet of retail space and a former Pep Boys location into a multi-tenant retail building. Other improvements have included new roofs and building façades.
BOYNTON BEACH, FLA. — Orlando, Fla.’s Keene Construction Co. is putting the finishing touches on the 121,787-square-foot Shoppes at Woolbright shopping center. Located at the intersection of Jog and Woolbright roads in Boynton Beach, the center is anchored by a 46,031-square-foot Publix. The property was developed by Boca Raton, Fla.-based Woolbright Development, and Boca Raton-based Marc Wiener Associates provided design services.
MEMPHIS, TENN. — The Sports Authority has signed a 41,587-square-foot lease for space at the 335,000-square-foot Ridgeway Trace Center. The shopping center is located at the interchange of Popular Avenue and Interstate 240 in Memphis. The Sports Authority will serve as co-anchor along with a 30,000-square-foot Best Buy; Target is the lead tenant. The Sports Authority is slated to deliver in spring 2010.
DETROIT — Marcus & Millichap has brokered the sale of a CVS/pharmacy located at 13600 East 7 Mile Rd. in Detroit. An East Coast-based 1031 exchange partnership has purchased the 10,880-square-foot building from an undisclosed seller for $1.6 million. Simon Jonna and Brandon Hanna of Marcus & Millichap represented the seller in the transaction. The transaction marks the third CVS/pharmacy that Jonna and Hanna have sold in the past 30 days.
COLLEYVILLE, TEXAS — The grand opening has been held for Main Street Chop & Fish House, a new steak and seafood restaurant located in Colleyville. The restaurant is situated on the second floor of 62 Main St. within The Village at Colleyville mixed-use development. It features a bar, a private dining room and tall windows that overlook the Main Street-style project. The Village at Colleyville. It includes two- and three-story buildings containing a mix of retail, restaurant, office and residential uses.
CALIFORNIA, MD. — Bryn Mawr, Pa.-based WP Realty has sold the 264,199-square-foot San Souci Plaza to Port Washington, N.Y.-based Cedar Shopping Centers for an undisclosed amount. The 22-year-old property is located at the intersection of Route 235 and MacArthur Boulevard in California and has been renovated twice. San Souci is anchored by a 61,466-square-foot Shoppers Food Warehouse and a 27,000-square-foot Marshalls. The center is 96 percent occupied by tenants including Jo-Ann Fabrics & Crafts, Maximum Health and Fitness, Dollar Tree and Fashion Bug.