JACKSONVILLE, FLA., AND MANASSAS AND CHARLOTTESVILLE, VA. — Regency Centers Corp. has contributed three of its properties to Oregon Public Employees Retirement Fund, one of its co-investment partners, in a deal worth $83.4 million. The transaction included the Publix-anchored John’s Creek Center in Jacksonville, a center in Manassas anchored by Shoppers Food Warehouse and Hollymead Town Center in Charlottesville, which is anchored by Target and Harris Teeter.
TAMPA, FLA. — Les Aron, David Goldstein and Dan Wolf have represented both parties in the sale of the 150,210-square-foot Tampa Plaza from a Minnesota investor to a New York-based LLC for $4.41 million. The property, located at 8303 N. Florida Ave. in Tampa, was built in 1968 and is anchored by Kmart.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a vacant retail condominium, located at 221-225 Center St. (aka 161 Grand St.) in New York City, for $4.5 million. The condo is located on the ground floor of an eight-story residential building. Ety Lee of Eastern Consolidated represented the seller, a Chinese developer. David Schechtman, Eric Anton and Ronald Solarz, also of Eastern Consolidated, represented the locally based buyer, which acquired the property in an off-market 1031 exchange. The property traded at a price of $1,125 per square foot.
PROSPER, TEXAS — Addison, Texas-based CROSS Development is developing Prosper Plaza, a 355,000-square-foot retail center located along the Highway 380 Corridor in Prosper. The project marks the first big-box retail center in the city, and is located directly across from a 207,000-square-foot Wal-Mart Supercenter. The site is also surrounded by existing and future master-planned residential communities. While no tenants have been formerly announced, Dallas-based United Commercial Realty, which is handling marketing and leasing of the property, says that an anchor tenant has been signed and an announcement will be made later this fall. Negotiations are also underway for the project’s six available pad sites. The construction timetable was not released.
FREDERICKSBURG, VA. — As part of a $100 million renovation to the 1.3 million-square-foot Spotsylvania Towne Centre, built in 1981 in Fredericksburg, the newly-created Village at Towne Centre will usher in a host of new tenants starting in November. Fink’s Jewelers, Firebirds, Sephora, Coldwater Creek, The Pub, Cache, Bravo Cucina Italiana and Saxon Shoes will all open in the center by spring 2009. In addition, Muvico Entertainment is developing a 12-screen movie theater on the site, and Splitsville will help bring a bowling alley and arcade to the area.
MT. JULIET, SMYRNA AND HIXSON, TENN. — Watkins Retail Group is planning to open three new Publix supermarkets in Tennessee. This month, a 90,640-square-foot store will open in Mt. Juliet Village in Mt. Juliet, and a 73,850-square-foot Publix will also deliver in The Shops at Lee Village in Smyrna. A Publix is set to anchor the 78,490-square-foot Creek Plantation Village, located at the intersection of Hixson Pike and Cassandra Smith Road in Hixson. The Publix, which is slated for delivery on Oct. 8, will be joined by BiBa’s Italian Restaurant, Chloe Salon, Great Clips and other regional and national tenants.
WAUKEGAN, ILL. — Bannockburn, Ill.-based Principle Construction Corp., as design/builder, has completed a 40,000-square-foot retail and office building located at the former site of the Academy Theatre in Waukegan. Revolution Academy Square was developed by LaGrange, Ill.-based Revolution Investment Partners, and was financed by Harris Bank. The two-story facility, which is situated on Genesee and Clayton streets, houses a restaurant, a real estate brokerage office, an interior design company and a deli. Harris Architects provided architectural services; Frank Buchberger acted as project manager for Principle Construction Corp. at the site.
ST. JOHN, IND. — Edgemark Commercial Real Estate Services has arranged the sale of a 2.29-acre outlot within St. John Square, which is located on the southeast corner of 101st and Wicker avenues in St. John. Aldi grocery store has acquired the property in order to expand its business into the area. Additional tenants at the 10-acre St. John Square shopping center include People’s Bank, Tractor Supply Co., Wine Styles, Starbucks Coffee, Jimmy John’s and Verizon. Edgemark’s Tyson Fraser represented the seller, Paul Hemmer Cos.; Rick Johnson of Rick Johnson Associates represented Aldi in the transaction. The acquisition price was not disclosed.
MESQUITE, TEXAS — Groundbreaking has occurred for Peachtree Towne Center, a 60-acre mixed-use development located at the intersection of Interstate 635, Gross and Peachtree roads in Mesquite. Developed by Lang & Co. LLC, the project is being developed in four phases. Phase I consists of the extension of the existing access road for I-635 and Gross Road, as well as the creation of a vehicle and pedestrian bridge that will create circular access to the entire site. Completion is expected in spring 2009. Additional construction will include a full-service hotel with a minimum of 250 rooms, a conference center and an adjacent restaurant. Construction would tentatively begin in 2009, with completion in 2010. Lang will also develop a medical/wellness facility with hiking trails along the creek bed, a multi-story office building, and a multi-use component with residential lofts over ground-floor retail. Completion of the entire project could come as early as 2012.
MARYLAND, VIRGINIA AND WEST VIRGINIA — NPC International has acquired 99 Pizza Hut stores located in Maryland, Virginia and West Virginia from Colonial Foods for $81.8 million. The 50 dine-in restaurants, three Pizza Hut/Yum! brand stores and 46 delivery units are located primarily in Virginia. NPC funded the purchase by borrowing against its $75 million revolving credit facility and utilizing $5 million in cash reserves. NPC is the world’s largest Pizza Hut franchisee.