EAST NORRITON, PA. — JLL has negotiated the $23.1 million sale of Dekalb Plaza, a 178,356-square-foot shopping center in East Norriton, a northwestern suburb of Philadelphia. Urban Air and Big Lots anchor the open-air center, which was 98 percent leased at the time of sale. Other tenants include Goodwill, Chick-fil-A, Applebee’s, Sally Beauty and Celebree School, and the roster carries a remaining weighted average lease term of 5.7 years. Christopher Munley, Jim Galbally, Colin Behr and James Graf of JLL represented the seller, Broad Street Realty, in the transaction. The buyer was Abrams Realty & Development.
HOFFMAN ESTATES, ILL. — New tenants have signed leases totaling more than 80,000 square feet at Bell Works Chicagoland, the redevelopment of the former AT&T campus in Hoffman Estates undertaken by Inspired by Somerset Development. Nine new office and retail tenants have signed leases in recent weeks, bringing the campus to a total of 250,000 square feet leased to date. Cambium Networks, a global provider of networking solutions, is relocating its headquarters to Bell Works Chicagoland and will occupy 35,000 square feet. The company will maintain development and engineering labs on the first floor of the building, and its corporate offices and conference rooms on the fourth floor. Cambium Networks expects to take occupancy in March 2024. Digital advertising agency JumpFly will move its 60 employees to an 11,000-square-foot space in December. VIPAR Heavy Duty Inc., an independent aftermarket truck parts distributor and service provider, signed a long-term lease for 11,000 square feet. The company will relocate its global headquarters and 35 employees to the campus. The build-out of the company’s space is slated for completion this month. An unnamed electronic components and services company signed a lease for 9,000 square feet. Additionally, more than 9,000 square feet has been …
EDEN PRAIRIE, MINN. — Three new tenants are set to open at Eden Prairie Center, a 1.4 million-square-foot shopping center in the Twin Cities suburb of Eden Prairie. Let’s Roar, which sells activewear and gold-plated jewelry, occupies 650 square feet and opened Aug. 1. The company sources its jewelry from Cebu, an island in the Philippines where the store’s owner was born and raised before moving to Minnesota. Influenced by the owner’s seven years of military service in both the U.S. Army and Air Force, Let’s Roar donates 10 percent of sales to Protect Our Defenders, a charitable organization that supports and advocates on behalf of military sexual assault survivors. First opened in 2009 by a father-son duo, High Score is relocating to Eden Prairie Center and will occupy 5,045 square feet on the upper level. High Score sells video games and vintage collectibles. At the front of the store is the newest gaming technology while toward the back are vintage systems, games, toys and collectibles organized by decade dating back to the 1970s. High Score follows a buy-sell-trade model, allowing customers to bring games, toys and systems for appraisal in exchange for cash, store credit or High Score merchandise. …
BUENA PARK, CALIF. — SRS Real Estate Partners has arranged the sale of a single-tenant retail property located at 6931 La Palma Ave. in Buena Park. An undisclosed partnership sold the asset to a private, non-1031 investor for $6.9 million. Both the buyer and seller are based in Southern California. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease Group represented the buyer and seller in the transaction. Superior Grocers occupies the 34,199-square-foot property, which was built in 1996 on 1.7 acres. There are seven years remaining on the tenant’s corporate-guaranteed triple-net lease.
HUNTSVILLE AND MADISON, ALA. — Colliers has arranged the sale of two retail strip centers in the Huntsville area totaling nearly $10 million. The properties include Magna Carta, a 22,378-square-foot property located at 11310 Memorial Parkway SW in Huntsville, and Madison Corners, a 14,400-square-foot center located at 1079 Balch Road in Madison. Magna Carter’s tenant roster includes Results Physiotherapy, Bedzzz Express, Marco’s Pizza, T-Mobile and Great Clips. Madison Corners is home to tenants including Stretch Zone, Tropical Smoothie and Firehouse Subs. Pacific West Land, an investment firm based in Washington, purchased Magna Carta, and a private family office based in Montgomery, Ala., purchased Madison Corners. Joe Montgomery, Henry Kushner and Scott Israel of Colliers represented the sellers in the transaction.
DALLAS — Los Angeles-based investment firm Westwood Financial has acquired Northview Plaza, a 120,000-square-foot, grocery-anchored shopping center located in northeast Dallas. Kroger anchors the center, which was 89 percent leased at the time of sale. Other tenants include Petco and McDonald’s. The transaction was executed off-market with the undisclosed seller.
DEER PARK, ILL. — Three new tenants are opening at Deer Park Town Center in the Chicago suburb of Deer Park. Sweetgreen opened a 2,156-square-foot restaurant in July. Victoria’s Secret will occupy 4,965 square feet. Construction on that store is scheduled to begin this fall. The Shade Store, a retailer offering customized window treatments, blinds, shades and drapes, is scheduled to open in spring 2024. Additionally, three existing tenants have either renovated their space or plan to do so. Pottery Barn is in the process of a renovation that will expand its square footage to approximately 12,000 square feet. Completion is slated for this fall. Bath & Body Works recently relocated its store to a new 3,710-square-foot space. Crate & Barrel plans to remodel its store, with completion in time for the start of the holiday shopping season. Managed by JLL, Deer Park Town Center is an outdoor lifestyle center featuring more than 60 retail, restaurant and service brands.
COTTAGE GROVE, MINN. — Home Choice has opened a new store at 6990 80th St. in Cottage Grove, about 10 miles south of St. Paul. A ribbon-cutting ceremony and grand opening celebration is scheduled for Friday, Aug. 4. Home Choice, part of the Rent-A-Center Inc. family, operates 20 locations in Minnesota. The retailer sells furniture, appliances, computers and electronics.
PLAINFIELD, IND. — El Toro Bravo, a regional Mexican restaurant, has opened at The Shops at Perry Crossing in Plainfield, a western suburb of Indianapolis. The 3,886-square-foot restaurant features a patio. El Toro Bravo’s menu consists of classic Mexican dishes such as burritos, quesadillas and gorditas. There are currently seven El Toro Bravo locations across the Midwest. Managed by JLL, The Shops at Perry Crossing is an outdoor lifestyle center featuring more than 50 retail, restaurant and service brands.
MODESTO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $4.1 million sale of a retail pad building located in Modesto. Built in 2018 and situated within a Save Mart-anchored shopping center, the multi-tenant building totals 6,402 square feet. Tenants at the property include Pacific Dental Services, Mountain Mike’s Pizza and West Coast Sourdough Deli. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. A California-based buyer acquired the property.