BRANFORD, CONN. — Lyman Real Estate (LRE) has arranged the $1.1 million sale of a 9,331-square-foot retail building in Branford, an eastern suburb of New Haven. The building at 854 West Main St. was previously occupied by Party City. Ron Lyman of LRE represented the buyer, LA-IN-USA LLC, in the transaction. Jeffrey Kravet of Kravet Realty represented the seller, Branford Realty Trust LLC.
PORT ORANGE, FLA. — Phillips Edison & Co. Inc. has sold Countryside Shopping Center, a 124,268-square-foot retail center in Port Orange. An affiliate of Atlanta-based Vanguard Associates Inc. acquired the property for an undisclosed price. Sav-a-Lot and Big Lots anchor the 96 percent-leased center. Other tenants at the time of sale included Halifax Health, Wells Fargo, Cici’s Pizza, Workout Anytime and H&R Block. The center is located at 3840 S. Nova Road, seven miles south of downtown Daytona Beach. Eric Williams, Daniel Finkle, Luis Castillo and Whitaker Leonhardt of JLL represented the seller in the transaction.
ST. LOUIS — The St. Louis Cardinals and The Cordish Cos. have unveiled three new tenants at the $260 million expansion of Ballpark Village — Sports & Social St. Louis, Davio’s Northern Italian Steakhouse and Baseballism. The 75,000-square-foot retail portion within the second phase expansion is now 92 percent leased. Sports & Social will occupy 9,000 square feet and anchor the base of the three-story retail pavilion overlooking the new infield plaza and Busch Stadium. In addition to a full dining and beverage menu, guests will enjoy a variety of games. Davio’s is an upscale restaurant that originated in Boston. It currently has 12 locations around the country. Baseballism is a baseball apparel retailer with nine stores across the country. Office tenants PricewaterhouseCoopers and ButcherJoseph moved into the PwC Pennant Building last week. It is the first new-construction Class A office tower in downtown St. Louis in more than 30 years. Onelife Fitness expects to open within the retail pavilion in January. The project also includes a Live! by Loews hotel slated to open in the first quarter and a 29-story residential tower slated to open in the second quarter.
BOSTON — Kitchen remodeling firm Express Kitchens plans to significantly increase its Massachusetts footprint in 2020 by opening three new retail stores and five new showrooms in and around the Boston area. Express Kitchens will open stores in the suburbs of Lynn, Watertown, Dedham, Peabody, Reading, Medford, Brockton and Weymouth. Showrooms will display a range of kitchens, cabinets and countertops, which customers will be able to purchase for their homes in-store or from the company’s website.
BLOOMFIELD HILLS, MICH. AND TERRE HAUTE, IND. — Global trucking and logistics firm Penske Corp. has agreed to purchase Hulman & Co., a private company that owns Indianapolis Motor Speedway, the world-famous racetrack that hosts the Indianapolis 500 and Brickyard 400 racing events. The acquisition price was not disclosed. Situated on more than 1,000 acres in Speedway, Ind., the Indianapolis Motor Speedway was built in 1909 and today has a permanent seating capacity exceeding 235,000 people. When infield seating is added, more than 400,000 people can view the various racing events held at the 2.5-mile oval track. According to Hulman, which has owned the venue since 1945, it’s the world’s largest spectator sporting facility. “The Indianapolis Motor Speedway has been the centerpiece and the cathedral of motorsports since 1909 and the Hulman-George family has proudly served as the steward of this great institution for more than 70 years,” says Tony George, chairman of Hulman & Co., a family-owned company based in Terre Haute. “Now, we are honored to pass the torch to Roger Penske and Penske Corp. There is no one more capable and qualified than Roger and his organization to lead the sport of IndyCar racing and the Indianapolis …
ALPHARETTA, GA. — Five Guys Taverns LLC has signed a lease to open Taffer’s Tavern at 33 S. Main St. in historic downtown Alpharetta in February 2020. The location will be the first in the nation for Taffer’s Tavern, which is backed by TV star Jon Taffer. Taffer is the host of “Bar Rescue.” The restaurant will be situated in the Liberty Hall building, directly across the street from City Hall. The building will feature the original bar, which was built in the 1700s and imported from England. Taffer’s Tavern will offer a menu that features a vacuum-sealed cooking method that doesn’t use traditional, commercial equipment. Locally based firm Chandlee and Sons Construction will serve as the general contractor. Five Guys Taverns plans to open four more restaurants across the state. The company has teamed with Fransmart, which also partners with companies such as Qdoba Mexican Grill and Five Guys, as its franchise development partner.
MYRTLE BEACH, S.C. — Eyzenberg & Co. has arranged a $14.1 million acquisition loan for THEBlvd, a 42,000-square-foot entertainment, retail and restaurant building in Myrtle Beach. The property is located at 1410 N. Ocean Blvd., a mile north of downtown Myrtle Beach. The seller, Land South of MB LLC, developed the three-story asset, which was fully triple-net leased to tenants including live music venue Tin Roof Myrtle Beach, Bandito’s Restaurant and Cantina and American Resort Management. An undisclosed New York-based family investor acquired the property for $22.6 million via a 1031 exchange. David Eyzenberg and Anastasia Vladislavova of Eyzenberg & Co. represented the buyer in placing debt financing through Morgan Stanley.
LACEY, WASH. — Marcus & Millichap has arranged the sale of St. Martin’s Center, a retail asset located in Lacey. A limited liability company sold the property to an undisclosed buyer for $3.5 million. Located at 1225 Ruddell Road SE, the property features 35,942 square feet of retail space. Nicholas Bushong of Marcus & Millichap’s Portland, Ore., office represented the seller in the deal.
KENNESAW, GA. — JLL has negotiated the sale of Cobb Place, a 335,190-square-foot retail center in Kennesaw. The property was 95 percent leased at the time of sale to tenants including Bassett Furniture, American Signature Furniture, Ashley Furniture, Bed Bath & Beyond, Cost Plus World Market, Hobbytown USA, DSW, Jersey Mike’s and Play It Again Sports. Cobb Place is situated on 31 acres at 840 Ernest W. Barrett Parkway, 24 miles northwest of downtown Atlanta. Jim Hamilton and Brad Buchanan of JLL represented the seller, a partnership between DRA Advisors LLC and RCG Ventures LLC, in the transaction. A fund sponsored by Wicker Park Capital Management purchased the asset. Additionally, Chip Sykes of JLL arranged acquisition financing on behalf of the buyer. Goldman Sachs provided the seven-year, fixed-rate loan.
POWAY, CALIF. — Pacific Coast Commercial has arranged the purchase of a retail property located at 12947 Poway Road in Poway. FRH Realty acquired the building for $2.5 million. Big O Tires occupies the 3,510-square-foot retail building, which is situated on 0.7 acres. Dave Dilday of Pacific Coast Commercial represented the buyer, while the seller was self-represented in the deal.
