WEBSTER, TEXAS — Locally based investment firm Gulf Coast Commercial Group has purchased Baybrook Passage Shopping Center, a 189,334-square-foot retail property located in the southeastern Houston suburb of Webster. Built on 20.5 acres in 2003, the property was roughly 80 percent leased at the time of sale to tenants such as Best Buy, Staples, Memorial Hermann Urgent Care, DXL Casual Male, Mia’s Table and Torchy’s Tacos. CBRE represented the seller, Passage Realty Inc., in the transaction. The new ownership plans to implement a value-add program at Baybrook Passage.
FLOWER MOUND, TEXAS — Weitzman has arranged the sale of Arbor Crossing, a 19,260-square-foot shopping center in Flower Mound, a northern suburb of Fort Worth. The property was fully leased at the time of sale to tenants such as The UPS Store, Verizon Wireless, Nekter Juice Bar and Fuzzy’s Taco Shop. Michelle Caplan and Matthew Rosenfeld of Weitzman, along with Scott Remphrey of Brytar Cos., which developed the property, represented the seller in the transaction. Rob Holuba, Patrick Camporini, Victoria Taylor Madrid and Justin Okumus with CenterSquare Investment Management, which acquired the asset on behalf of a public pension fund client, represented the buyer on an internal basis.
ST. JOHNS, FLA. — CBRE has brokered the $19.2 million sale of Shoppes at Beachwalk, a newly built, Publix-anchored shopping center located on County Road 210 in St. Johns, a suburb of Jacksonville. The developer, Pebb Enterprises, delivered the 58,887-square-foot shopping center last year. Publix Super Markets purchased Shoppes at Beachwalk, which was fully occupied at the time of sale. Casey Rosen and Dennis Carson of CBRE’s National Retail Partners team represented the seller in the transaction.
BLOOMINGDALE, ILL. — Burlington has signed a lease to open a 27,726-square-foot store at Stratford Crossing in Bloomingdale, a western suburb of Chicago. Burlington will be the ninth anchor tenant to join the 385,000-square-foot shopping center, which is home to T.J. Maxx, HomeGoods, Mariano’s, PetSmart, Hobby Lobby and Planet Fitness. Joe Parrott, Sean McCourt and Riley McCarron of CBRE represented ownership, an affiliate of Newmark Merrill Cos. Burlington is scheduled to open later this year.
HUNTINGTON BEACH, CALIF. — JLL Capital Markets has arranged the sale of Goldenwest & Bolsa, a retail center located at 15031 Goldenwest St. in Huntington Beach. A private equity fund sold the property to a local private investor for $23.5 million. Constructed in 1974 on six acres, Goldenwest & Bolsa features 63,269 square feet of retail space. At the time of sale, the property was 95.4 percent leased to a mix of daily needs and internet-resistant tenants. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL Retail Capital Markets represented the seller in the transaction.
CEDAR PARK, TEXAS — California-based brokerage firm Matthews Real Estate Investment Services has negotiated the sale of a 21,061-square-foot retail strip center located at 1201 N. Lakeline Blvd. in the northern Austin suburb of Cedar Park. DeWitt Goss and Jeff Miller of Matthews represented the seller, Saadeh Properties, in the transaction. The buyer was Legacy Properties. The center was 94 percent leased at the time of sale.
HUNTSVILLE, ALA. — PBR x Lockhart Smokehouse is opening this year at Bridge Street Town Center, a mixed-use development in Huntsville. The dining concept is a partnership between the Professional Bull Riders (PBR) Cowboy Bar, Lockhart Smokehouse and Live! Concepts. Bayer Properties is the developer for the Bridge Street Town Center. PBR Cowboy Bar’s Country-Western experience will be joined with Lockhart Smokehouse’s Texas barbecue in the dining concept. The location at Bridge Street Town Center will be Lockhart Smokehouse’s first location outside of Texas. PBR x Lockhart Smokehouse will take up 8,121 square feet of space. Bridge Street Town Centre features over 50 tenants including Apple, Athleta, H&M and Sephora. The development recently added The Cheesecake Factory and soon will open Main Event. The property is also home to more than 207,000 square feet of Class A office space that is fully leased, as well as a 232-room Westin hotel, 150-room Element by Westin hotel, 244-unit Seleno apartment complex and a 131-room Hyatt Place Hotel.
SOUTHGATE, MICH. — Dunkin’ has sold its former restaurant building on Eureka Road in Southgate, about 14 miles southwest of Detroit. The retailer is relocating from the 1,809-square-foot building to a different building down the street that features a drive-thru. Michael Murphy, Vicki Gutowski and Tjader Gerdom of Gerdom Realty & Investment worked with Excess Space Retail Services to represent Dunkin’ in the sale. Jordan Jabbori of CMP Real Estate Group represented the buyer, a local restaurant owner that plans to open a new restaurant in the space.
BOSTON — Coldwell Banker Commercial has brokered the $15 million sale of a 16,500-square-foot retail building located on a half-acre site at 1004-1016 Beacon St. in Boston’s Brookline neighborhood. Todd Glaskin and Gregg Leppo of Coldwell Banker represented the seller, a local family trust, in the transaction. Casimir Groblewski and Colin Monahan of locally based mortgage banking firm Fantini & Gorga arranged a $13 milion acquisition loan for the deal.
SACRAMENTO, CALIF. — Raith Capital Partners has completed the disposition of Arden Square, a shopping center located at 3102-3198 Arden Way in Sacramento. Rhino Investments Group acquired the asset for an undisclosed price. BevMo!, Joann Fabrics and Office Max anchor the 100,162-square-foot retail center, which is situated on 7.4 acres. At the time of sale, the property was 90 percent occupied. Additional tenants include Kaiser Permanente, GameStop, Sacramento Credit Union, Jackson Hewitt Tax Services, Great Clips and Eco-Friendly Nail Salon. Constructed in 1961, the center was renovated in 1996. Eric Kathrein, Tim Kuruzar and Warren McClean of JLL Retail Capital Markets represented the seller in the deal.