WICHITA, KAN. — Sperry Van Ness (SVN) has completed the sale of Ken-Mar Shopping Center, a 73,757-square-foot retail center located at 4610 E. 13th St. in Wichita, for $2.21 million. The building is situated on 7.95 acres, and is 79 percent occupied. Jason Little of SVN’s Oklahoma City office and Michael Roberts of the firm’s Kansas City, Mo., office represented the seller, California-based Madison Property Group. Nick Esterline of Landmark Commercial Real Estate represented the undisclosed buyer, which has plans to redevelop the property.
SKOKIE, ILL. — Freeport, Maine-based outdoor retailer L.L. Bean will be opening its second Chicagoland store in Old Orchard Shopping Center in Skokie. The 30,000-square-foot location will be built to the U.S. Green Building Council’s LEED standards, and will include the creative use of recycled and reclaimed materials, as well as energy-efficient heating, cooling and lighting systems. It is scheduled to open in November. L.L. Bean has previously announced a new store to be located inside The Arboretum of South Barrington in South Barrington, Ill. The two stores are part of the retailer’s plans to open 32 stores nationally by 2012.
CATHEDRAL CITY, CALIF. — Gary Griggs and Brian Rissman of Marcus & Millichap have brokered the sale and acquisition of Palm Canyon Plaza in Cathedral City. Located at 68487 E. Palm Canyon Dr., the 23,681-square-foot office property sold for $2.15 million or $101 per square foot. The seller and buyer were not disclosed.
HENDERSONVILLE, TENN. — Harpoon of Hendersonville TN LLC has acquired 21 acres for the future development of Indian Lake Marketplace in Hendersonville, from Indian Lake Investors, for $8 million. The site is currently occupied by Cracker Barrel Old Country Store and Verizon Wireless. Harpoon will develop a 100,000-square-foot retail center on the property, inclusive of two outparcels. Zac Cypress and Charlotte Ford of NAI Nashville represented the buyer, and Terry Smith and Jason Powell, also of NAI Nashville, represented the seller.
OMAHA, NEB. — Phillips Edison & Co. has acquired Deerfield Plaza, a 129,914-square-foot retail center located in Omaha. The center is anchored by Baker’s Supermarket and Walgreens. The acquisition price, as well as the seller, was undisclosed.
LAKE SAINT LOUIS, MO. — Seven new retailers have joined the tenant roster at The Meadows at Lake Saint Louis, a 64-acre lifestyle center located at the interchange of Lake Saint Louis Boulevard and Interstate 64 in Lake Saint Louis. St. Louis area tenants Clarkson Jewelers and Puddle Ducks will join national retailers CJ Banks, Aeropostale and Bachrach. The five retailers will open when the 260,000-square-foot first phase of the project opens in August. Additionally, Old Navy will open in early 2009 in a junior anchor location next to an already-announced Bed, Bath & Beyond. Outdoor apparel chain Backwoods will be constructing a freestanding location on an outparcel at the center, also scheduled to open in early 2009. At full completion, The Meadows at Lake Saint Louis will contain 500,000 square feet of retail space in a pedestrian-friendly, downtown environment.
TULSA, OKLA. — Tulsa-based Stan Johnson Co. has completed the sale of a 14-property portfolio comprising more than 900,000 square feet. The portfolio, which includes retail, office and industrial properties in nine states, sold for $123 million. Gill Warner and Craig Kenney of Stan Johnson Co. represented the buyer, Cole Cos., in the transaction. Mark Allison at Investors Real Estate Agency represented the undisclosed seller. The portfolio included one retail and one office property in Texas.
CORPUS CHRISTI, TEXAS — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged $7.21 million in refinancing for Town & Country Shopping Center in Corpus Christi. The 94,736-square-foot retail center, which was renovated in 2007, is 62 percent leased to tenants such as TCBY, Subway, Schlotzsky’s Deli and Hollywood Video. The property sits on a 6.2-acre site at 4250 S. Alameda St. Tucker Knight and Steve Gautier of HFF worked on behalf of the borrower, Fowler Property Acquisitions, to secure the loan through The Mission Bank.
PUYALLUP, WASH. — Beverly Hills, Calif.-based Barclay’s Realty & Management Co. has acquired two retail centers for $8.17 million. Located along Highway 161 in Puyallup, the centers, which totals 15,257 square feet, are currently leased to tenants such as Forza Coffee, Popeye’s, Go Wireless, FedEx Kinko’s and Payless Shoe Source. The Seattle-based Colliers Retail Investment Team, headed by Paul Sleeth, represented the buyer and the seller, South Puyallup Retail Investments LLC, in the transaction.
VENICE BEACH, CALIF. — Combined Properties Inc. is renovating and redeveloping Lincoln & Rose Shopping Center in Venice Beach. Located on Lincoln Boulevard at Rose Avenue, the 75,500-square-foot property will be anchored by a 48,500-square-foot Whole Foods Market, which is pursuing the Silver Level of LEED Certification. Renovations to the center include a new storm water management system with a bio swale, more than 65 new trees intended to increase the shade cover, and new and expanded sidewalks that are planned to improve walkability and access. Completion is slated for the end of the year. Studio 111 at Perkowitz+Ruth Architects is providing architectural services for the project.