MIDLOTHIAN, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of Shops on 663, a 14,812-square-foot retail strip center in Midlothian, a southern suburb of Dallas. The name stems from the site’s location on FM 663, and the fully leased center is home to tenants such as Sport Clips and Anytime Fitness. Jack Hicks and Hudson Lambert of STRIVE represented the seller, an Austin-based developer, in the transaction and procured the buyer, a California-based investor. Both parties requested anonymity.
HAMILTON, N.J. — Marcus & Millichap has brokered the $8.3 million sale of Quakerbridge Shoppes, a 42,912-square-foot shopping center located in the Central New Jersey community of Hamilton. The center sits on 5.1 acres and is home to 18 tenants, including Northfield Bank and Villa Maria’s Restaurant. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
SAN RAFAEL, CALIF. — Marcus & Millichap has arranged the sale-leaseback of a mixed-use building located at 2066 4th St. in San Rafael. A limited liability company sold the asset to an undisclosed buyer for $1.4 million. Built in 1946, the 5,739-square-foot property offers one retail unit, one office unit, six single-room occupancy units and a one-bedroom/one-bath residential unit. John Lee, Adam Levin and Robert Johnston of Marcus & Millichap represented the seller in the deal. The seller will remain as a commercial tenant at the property.
MUNCIE, IND. — Regency Properties has acquired Muncie Towne Plaza, a 173,773-square-foot shopping center in Muncie. The purchase price and seller were undisclosed. Developed in 1997 and renovated in 2005, Muncie Towne Plaza was fully leased at the time of sale. Key tenants include Kohl’s, TJ Maxx, Old Navy, Ulta Beauty and Shoe Carnival. The property includes a 1.1-acre undeveloped land site immediately adjacent to Old Navy. Regency plans to develop the parcel following consideration of what represents the greatest opportunity between a single- or multi-tenant space. The parcel can accommodate a 50,000-square-foot development. Regency says the purchase underscores its acquisition philosophy as a “county seat” community retail property investor. County seat communities are defined as towns that typically serve as the hub for business, local government, recreation and shopping for a surrounding rural area.
TUCSON, ARIZ. — Desert Christian Schools Inc. has sold a property located at 10129 E. Speedway Blvd. in Tucson, to Richard and Connie Luebke for $1.5 million. The 17,865-square-foot building was subsequently donated to Habitat for Humanity. Rob Tomlinson of Cushman & Wakefield | PICOR handled the transaction.
GREEN BAY, TWO RIVERS AND MADISON, WIS. — Starbucks has signed three new retail leases in Wisconsin. The tenant leased 2,460 square feet at 1555 W. Mason St. in Green Bay, 2,262 square feet at 1509 Washington St. in Two Rivers and 2,665 square feet at 1609 S. Park St. in Madison. Tony Colvin of Mid-America Real Estate represented Starbucks in all of the leases. The landlords included Military Avenue Partners, DCOLE TR LLC and 1609 S Park St LLC.
NAPERVILLE, ILL. — Activate, an interactive gaming facility featuring a blend of physical activity and gaming experience, has signed a lease to open at Fox River Commons shopping center in the Chicago suburb of Naperville. The lease marks the second location in the greater Chicago area for Activate. In partnership with Sounds Fun Entertainment, Activate currently operates more than 40 locations across the United States and Canada. Activate consists of 14 separate game rooms in which participants are tasked with conquering an experience that lasts about 75 minutes. The tenant signed a lease with property owner Continental Realty Corp. (CRC) for nearly 12,000 square feet at Fox River Commons and plans to open this spring. Kristin Perry of CRC and Brooke Spinell of Mid-America Real Estate represented the landlord in the lease, while Courtney Waldon of Braden Real Estate represented the tenant. Activate also plans to open its third Illinois facility in the River North area next year.
BOCA RATON, FLA. — Whole Foods Market has opened a new 35,000-square-foot grocery store at 9560 Glades Road in Boca Raton. The new store, which carries more than 700 items sourced from Florida, is one of the several anchors at the Uptown Boca development on the city’s west side. Giles Capital Group, Rosemurgy Properties, Schmier Property Group and Wheelock Street Capital broke ground on the $200 million mixed-use development in 2018. Other elements at Uptown Boca include REI, Sephora, Life Time Fitness and 456 apartments, among other components.
EL CENTRO, CALIF. — CBL Properties has completed the all-cash, $38.1 million disposition of Imperial Valley Mall in El Centro. The property served as collateral under CBL’s nonrecourse term loan. Net proceeds from the sale were applied to the term loan principal balance, which after closing was reduced to $680.3 million. The name of the buyer was not disclosed.
MIDDLETOWN, N.J. — Marcus & Millichap has brokered the $5.8 million sale of a 29,411-square-foot retail strip center in Middletown, located along the Jersey Shore. Painting retailer Benjamin Moore anchors the center, which sits on 1.9 acres and is home to a total of 10 tenants. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.