HOUSTON AND FRISCO, TEXAS — Indian jewelry retailer Tanishq has opened two new stores totaling 8,800 square feet in Texas. The stores at 2335 Post Oak Blvd. in Houston and 2809 Preston Road in Frisco comprise 3,800 and 5,000 square feet, respectively, and mark the second and third locations in the country for the brand. Tanishq opened its flagship store in Northern New Jersey earlier this year.
MAMMOTH LAKES, CALIF. — PSRS has arranged $3.7 million in refinancing for Mammoth Gateway, a retail strip center in Mammoth Lakes. Grady Seldin and Thomas Rudinsky of PSRS secured the 10-year, fixed-rate loan for the undisclosed borrower. Built in 1973 on 3.5 acres, Mammoth Gateway features 54,854 rentable square feet. Rite Aid anchors the property, which offers 13 retail spaces, including a hardware store, pet store and a variety of restaurants and cafés.
NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has arranged the $7.1 million sale of Design Pointe, a 78,000-square-foot retail center in the Chicago suburb of Naperville. Built in the mid-2000s, the property is located at 1320 N. Route 59. At the time of sale, the center was 95 percent leased to Studio 41, Brain Balance, Fancy Free Holidays and other tenants. Brett Berlin of Quantum represented the seller, an Illinois-based investor. The buyer was also a private investor based in Illinois.
MIAMI — Eight new retail tenants have signed leases totaling 15,000 square feet at River Landing Shops & Residences, a mixed-use development spanning 2.2 million square feet in Miami. Located at 1400 N.W. North River Drive, River Landing comprises approximately 360,000 square feet of retail/commercial space, 135,000 square feet of Class A offices, 528 market-rate apartments, more than 2,000 parking spaces and a landscaped riverwalk. Claire’s has opened an 870-square-foot store, and Ceci Spa Hair and Nails and Divine Lash have both opened in 1,030-square-foot spaces. Additionally, Miami Optical, Suite Svn, Anything is Everything and White Coat Beauty now occupy 1,200; 5,805; 2,000; and 1,078 square feet, respectively. Carrot Express has also signed a 2,012-square-foot lease at the property. Urban-X Group is the developer and landlord of River Landing, which opened in 2020. Retail space at the development is currently 94 percent leased, with other tenants including Publix, Pet Supermarket, Old Navy, Ulta Beauty, Planet Fitness, Five Below, Ross Dress for Less, Chick-fil-A and Hobby Lobby.
KATY, TEXAS — Dallas-based brokerage firm STRIVE has negotiated the sale of a 10,299-square-foot retail building in Katy, a western suburb of Houston, that is leased to Mexican restaurant chain Uncle Julio’s. The building was originally constructed in 2015. Jackson Brewer and Jake Dutson of STRIVE represented the seller and procured the buyer, both of which were Houston-area investors that requested anonymity, in the transaction.
FLOWER MOUND, TEXAS — Los Caminos Modern Cocina will open a 5,680-square-foot Mexican restaurant at Lakeside, a 160-acre mixed-use development in Flower Mound, a northern suburb of Fort Worth. The site spans 1.3 acres, and the space will include an 1,810-square-foot, climate-controlled patio. The opening is slated for fall 2024. Dallas-based Realty Capital Management owns Lakeside.
PHILADELPHIA — California-based brokerage firm Matthews Real Estate Investment Services has arranged the $5.2 million sale of a 10,640-square-foot retail strip center in Philadelphia’s Kensington area. Built on two acres in 2015, the center was fully leased at the time of sale to Rise Dispensary and Fine Wine & Good Spirits. Alexander Machado, Daniel Gonzalez, Robert Goldberg and Ben Snyder of Matthews brokered the deal. The buyer and seller were not disclosed.
SPRINGFIELD, ILL. — Marcus & Millichap has negotiated the $3.8 million sale of Springfield Commons, a 15,680-square-foot retail property located at 2701 N. Dirksen Parkway in Springfield. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller, a limited liability company. The property sold near list price to an all-cash, coastal buyer.
HUNTSVILLE, ALA. — Tanger has acquired Bridge Street Town Centre, an open-air retail center located in Huntsville, for $193.5 million. Alabama-based Bayer Properties is the developer and former owner of the 825,000-square-foot development. Tenants at the property include lululemon athletica, Sephora, Main Event, a 14-screen Cinemark movie theater, Lovesac, Dry Goods, Victoria’s Secret, Athleta, Anthropologie, Altar’d State, Ulta Beauty, Barnes & Noble, Dick’s Sporting Goods, Old Navy, H&M and Belk, among others. The center was 93 percent occupied at the time of sale. This marks Tanger’s 39th property and first open-air lifestyle center.
LUTZ, FLA. — SRS Real Estate Partners has arranged the $13.6 million sale of a 42,311-square-foot single-tenant retail property in Lutz, about 14 miles north of Tampa. EoS Fitness occupies the building on a 15-year triple-net lease. Located at 17634 Harpers Run, the property is situated on 3.9 acres within Cypress Ranch, a 164-acre mixed-use development that features 598 residential units and 100,000 square feet of office space. Upon completion, Cypress Ranch will also include 11 freestanding retail parcels. Tenants at the parcels include Chick-fil-A, Aldi and Panda Express. Patrick Nutt and William Wamble of SRS represented the seller, Barclay Group, in the transaction. A California-based buyer acquired the property in a 1031 exchange.