NORTHBROOK, ILL. — Focus, together with development partner Fort Union, is scheduled to break ground on a new electric vehicle sales, service and distribution center for Tesla in Northbrook, a northern suburb of Chicago. Focus is hosting a groundbreaking event for the 50,000-square-foot project on Wednesday, Oct. 4. According to a press release, the project will assist the city in achieving the goals set in its 2021 Climate Action Plan.
WOODHAVEN, MICH. — Marcus & Millichap has brokered the $4.6 million sale of a two-tenant retail property in Woodhaven, a southern suburb of Detroit. The asset is home to Office Depot and Five Below. Ashish Vakhariya, Seth Haron and Darin Gross of Marcus & Millichap represented the undisclosed seller. Dylan Wolf and Clayton Brown of Marcus & Millichap represented the cash buyer, which completed a 1031 exchange.
BOOTHWYN, PA. — JLL has brokered the sale of Larkin’s Corner, a 225,214-square-foot retail center located in Boothwyn, located near the Pennsylvania-Delaware border. Acme Grocery and Walmart anchor the property, which was 99 percent leased at the time of sale. Other tenants at the center include McDonald’s, TD Bank and Dollar Tree. Chris Munley, Jim Galbally, Colin Behr, James Graf and Patrick Higgins of JLL represented the seller, Site Centers, in the transaction. The team also procured the undisclosed buyer.
NEW YORK CITY — A partnership between Tiger Woods, Justin Timberlake, NEXUS Luxury Collection and 8AM Golf have opened a 22,000-square-foot sports and entertainment bar between Bryant Park and Grand Central Station in Manhattan. Dubbed T-Squared Social, the venue offers an array of golf simulators, duckpin bowling and darts, as well as food and drink. ForrestPerkins designed the space, which features 24-foot open ceilings, a 32-foot bar, dining and lounge areas and a private event room.
ARLINGTON, TEXAS — CBRE has arranged the sale of Cooper Street Plaza, a 91,856-square-foot shopping center in Arlington. The center was 97.5 percent leased at the time of sale. K&G Mens Co. and Office Max are the anchor tenants, and other users include Black Rifle Coffee, UPS, State Farm Insurance and Ninja Sushi. Jared Aubrey and Michael Austry of CBRE represented the seller, an undisclosed Texas-based REIT, in the transaction. The buyer was Vista Property Co.
RICHMOND, TEXAS — Swig, a Utah-based drink concept with 54 locations across four states, will open a 19,161-square-foot beverage fountain in the southwestern Houston suburb of Richmond. The space will be situated on a pad site that is under construction at Grand at Aliana, a development by Houston-based NewQuest Properties. Jeff Hayes and Travis Waltmon of Paul Duro Commercial Partners represented Swig, which is targeting a January opening, in the lease negotiations.
DURANGO, COLO. — Armstrong Capital Development has purchased Durango Town Center, a shopping center located at 1125, 1145 and 1185 S. Camino Del Rio in Durango. A local private investor sold the asset for $14.5 million. At the time of sale, Durango Town Center was 98 percent leased to 20 tenants. A Walmart Supercenter shadow anchors the property. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, while Bowlby also sourced the buyer in the transaction.
SAN JOSE, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.8 million loan for the refinancing of Tully Commercial Center, a retail property in San Jose. Located at 1055-1095 Tully Road, Tully Commercial Center features 15 freestanding retail spaces. Current tenants include Little Caesars, Hawaiian BBQ, a hair and nail salon, and a dry cleaner. David Campbell of MMCC’s Palo Alto office secured the financing, which features a seven-year term and 25-year amortization.
SINGER ISLAND, FLA. — Pebb Capital has sold Ocean Walk, a 65,908-square-foot shopping center located at 2401 N. Ocean Ave. in Singer Island, for $19.2 million. The Boca Raton, Fla.-based investment firm purchased the center in 2017 for nearly $7.6 million, at which time the center was 53 percent leased. The property is now fully leased to tenants including Wings Beachwear, 7-Eleven, Mulligan’s Beach House and Johnny Longboats. Situated on 10.5 acres, Ocean Walk features 492 surface parking spaces, four retail structures and 873 feet of unobstructed oceanfront. Danny Finkle, Jorge Portela, Eric Williams and Kim Flores of JLL represented the seller in the transaction. The buyer was not disclosed.
RESTON, VA. — Comstock Holding Cos. Inc. has signed two new restaurants to join the second phase of Reston Station, a mixed-use development underway in Northern Virginia. The new tenants are Noku Sushi, a Virginia-based fast-casual sushi and ramen restaurant, and Tous les Jour, a bakery chain. Both tenants will occupy ground-level retail space at 1800 Reston Row Plaza, the first of two trophy office towers under development in Phase II. Both restaurants are slated to open in 2025. Michael Kang of Rappaport represented the tenants in both transactions. Other committed commercial tenants set to open at Reston Station include Vida Sport & Fitness, Ebbitt House and Puttshack.