ALLEN, TEXAS — Chicken N Pickle, a Kansas City-based concept that combines dining with pickleball and other outdoor games, has broken ground on a 43,000-square-foot restaurant and entertainment venue in the northeastern Dallas suburb of Allen. The venue is located at The Farm, a 135-acre mixed-use development by JaRyCo. The opening is slated for early 2025. Chicken N Pickle also has locations in the Dallas-Fort Worth metros of Grand Prairie and Grapevine, as well as San Antonio, and will open its facility at Webster, a southwestern suburb of Houston, later this month.
NORTH FAYETTE TOWNSHIP, PA. — CBRE has arranged a 28,857-square-foot retail lease in North Fayette Township, a western suburb of Pittsburgh. The tenant, furniture retailer Arhaus The Loft, will move into its new space at Plaza at the Point shopping center in the second quarter. Herky Pollock and John Jackson of CBRE represented the landlord, Kossman Development Co., in the lease negotiations. Scott Smith of Hanna Langholz Wilson Ellis represented the tenant. The deal brings Plaza at the Point to full occupancy.
HERRIMAN, UTAH — SRS Real Estate Partners has arranged the purchase of a newly constructed retail property, located at 5116 Denali Park Drive in Herriman, approximately 20 miles southwest of Salt Lake City. A Washington-based private investor in a 1031 exchange acquired the asset from a developer for $5.3 million. PetSuites, which opened in November 2023, occupies the 10,953-square-foot property. The tenant has a 20-year lease in place. PetSuites operates more than 80 locations nationally with services including daycare, boarding, grooming and training for pets. Susan Harris of SRS represented the buyer, while JLL represented the seller in the deal.
KATY, TEXAS — Three new tenants have opened stores at LaCenterra at Cinco Ranch in the western Houston suburb of Katy. Athleisure provider lululemon has opened a 4,133-square-foot store next to Sephora, and South African restaurant concept Nando’s has also debuted its 2,754-square-foot eatery next to Jamba Juice. Lastly, apparel and accessories retailer Two Tarts’ Toppers has opened a 1,113-square-foot store next to CycleBar and across from Bar Louie. Poag Development Group owns LaCenterra at Cinco Ranch.
UNION, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $7 million loan for the refinancing of a 38,247-square-foot shopping center in Northern New Jersey. The unnamed center is located on a 2.4-acre site along one of the area’s major retail corridors. Wesley Wilcox and David Fryer of G.S. Wilcox arranged the five-year loan, which carries a fixed interest rate and a 30-year amortization schedule, through a correspondent life insurance company lender on behalf of the undisclosed borrower.
DANA POINT, CALIF. — Burnham Ward Properties, a partner in Dana Point Harbor Partners (DPHP), has started construction of the landside portion of the commercial core revitalization at Dana Point Harbor in Dana Point, a coastal city in Orange County. The five-phase, 120,000-square-foot landside portion will include a three-level parking structure, underground utility infrastructure upgrades, landscaping and site work updates, an added pedestrian pathway and new extension of the road leading into the Harbor, Golden Lantern. The 984-stall parking structure will include 93 boater-dedicated spaces and boater-service amenities, including restrooms, showers, changing rooms, a corral of service carts to aid boaters carrying supplies to boats, and a valet drop point for boaters. Additionally, the new structure will feature electric vehicle charging stations, an increase in parking spaces and convenience for sportfishing, whale watching and Catalina Express customers departing from Dana Wharf. Phases I and II are slated for completion in 12 months. Following the completion of the first two phases, construction will begin on Phase III of the commercial core, which includes development along the waterfront. Phase III is scheduled to begin in March 2025. The final phases will include redevelopment of the buildings within The Wharf. Main features of the …
NEWPORT BEACH, CALIF. — JLL Capital Markets has arranged the recapitalization of Lido Marina Village, a 3.1-acre mixed-use shopping center in Newport Beach. The firm represented the existing ownership, DJM Capital and Arc Capital Partners through a partnership with Belay Investment Group, in the transaction that added Redwood West to the partnership. Built in 1971 and renovated in 2016 and 2022, Lido Marina Village features 77,922 square feet of retail space, 28,694 square feet of office space and a 47-slip marina. Current tenants include Nobu, Zinque, Malibu Farm, Circle Hook Fish Co., Aesop, Warby Parker, Elyse Walker, Faherty, Curl Fitness, Eberjay and LoveShackFancy. The property is currently 100 percent occupied. As part of the transaction, Arc Capital Partners and Belay Investment Group exited the original partnership. JLL also secured an undisclosed amount of financing through a life insurance company for the transaction. Bryan Ley, Geoff Tranchina, Gleb Lvovich, Tim Kuruzar and Daniel Tyner led the JLL Capital Markets investment sales advisory team. Jeff Sause, John Marshall and Alex Olson led the JLL Capital Markets debt advisory team.
MESA, ARIZ. — Mesa South Center LP has received $8 million in financing for the acquisition for Mesa South Shopping Center at 1230 S. Gilbert Road in Mesa. The borrower purchased the asset from an undisclosed seller for $15 million. Mesa South Shopping Center features 133,663 square feet of retail space that was 85.3 percent occupied at the time of sale. Current tenants include Big 5 Sporting Goods, Harbor Freight Tools and Dollar Tree. The property was originally built in the 1980s but has undergone renovation, including recent capital investments to the parking lot. Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE Capital Markets Debt and Structured Finance secured the 10-year loan through a correspondent life insurance company. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller in the sale transaction, while Maha Odeh-Arnold of Regal Properties represented Mesa South Center LP.
WAUKEGAN, ILL. — Marcus & Millichap has negotiated the $2.7 million sale of a two-tenant retail property in the Chicago suburb of Waukegan. The 7,100-square-foot asset is home to Tropical Smoothie Café and Ivy Hall dispensary. The property at 992 S. Waukegan Road serves as an outlot to a casino and hotel that are currently under construction and slated to open in 2025. Both tenants’ leases feature 10 percent rental increases every five years. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not released.
WINTER PARK, FLA. — SRS Real Estate Partners has brokered the $7.7 million sale of a 29,987-square-foot single-tenant retail property located in Winter Park, a suburb of Orlando. Crunch Fitness occupies the property, which is located on 3.7 acres at 14150 W. Colonial Drive, on a 15-year triple-net lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based investment and development group, in the transaction. The buyer was a Florida-based private investor.