Retail

Potato-Barn-Mesa-AZ

MESA, ARIZ. — Sigma Contracting has broken ground on a headquarters and warehouse facility for Potato Barn, a high-end furniture retailer. Situated on 8.4 acres at 7104 E. Ray Road in Mesa, the 100,000-square-foot property will feature 50,000 square feet of retail space, 30,000 square feet of warehouse space and a 20,000-square-foot outlet store. The $7.4 million facility is slated to open in January 2019. Perez McGree is providing architectural services for the project. The family-owned store plans to consolidate its operations into the new facility and close its locations at 4900 E. Power Road and 586 E. Germann Road in Gilbert, Ariz.

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SANTA ANA, CALIF. — Marcus & Millichap has brokered the sale of The Legion Building, a retail property located at 313 N. Birch St. in Santa Ana. An undisclosed buyer acquired the property for $2.4 million, or $155.63 per square foot. At the time of sale, the 15,742-square-foot property was vacant. Joseph Lising of Marcus & Millichap brokered the transaction. The name of the seller was not released.

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EVO-Entertainment-Schertz-Texas

SCHERTZ, TEXAS — San Marcos-based EVO Entertainment Group will open a 73,000-square-foot entertainment center within The Wiederstein Ranch shopping center in Schertz, a northeastern suburb of San Antonio. The venue will feature a 10-screen movie theater, 16 bowling lanes, more than 100 arcade games, laser tag, a full restaurant and bar and private event space. Construction is scheduled to begin soon and the opening is slated for February 2019. The Schertz venue will be the company’s fifth location overall in the greater San Antonio area.

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Bayfront-Chula-Vista-CA

CHULA VISTA, CALIF. — The City of Chula Vista and the Port of San Diego have approved key agreements to advance the Chula Vista Bayfront resort hotel and convention center project on San Diego Bay. The Board of Port Commissioners and the Chula Vista City Council unanimously approved a disposition and development agreement between the public-private partnership of port, the city and RIDA Development Corp. Construction is slated to begin in late 2019. Gaylord Hotels, the large convention hotel brand of Marriott International, will operate the 535-acre project. Located west of Marina Parkway between H and G streets, the waterfront development will include 1,600 hotel rooms and a 415,000-square-foot convention with 275,000 usable square feet of convention and meeting space. Additionally, the project will feature associated retail and resort-style amenities, including restaurant, bar and lounge facilities, recreational facilities, spa, pool with a lazy river, bike and boat rentals, more than 250 acres of protected wildlife habitat, and 46 acres of new parks, trails and bike paths. Public infrastructure improvements are planned to start by 2019, which includes site preparation, building access roads and new public streets, providing utility services and developing the new Harbor Park. Sun Communities Inc. is developing …

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ROSEVILLE, CALIF. — Starboard Commercial Real Estate has arranged the sale of a retail property located at 318 N. Sunrise Ave. within Centre Pointe Regional Shopping Center in Roseville, a suburb of Sacramento. A San Francisco-based investor acquired the property for $4.5 million. Pet Club currently occupies the 24,750-square-foot building. Richard Gumbiner of Starboard Commercial Real Estate brokered the transaction.

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VIRGINIA BEACH, VA. — Atlanta-based New Realm Brewing has unveiled plans to open a second brewery and taproom in Virginia Beach. New Realm is partnering with The Miller Group to lease a 58,000-square-foot facility, located four miles from the oceanfront at 1209 Craft Lane. The space formerly housed Green Flash Brewing Co. The new brewery will be capable of brewing 40,000 barrels annually and will feature a tasting room, outdoor beer garden and private event space. The facility will open upon receiving applicable licenses required for operation. Carey Falcone, Bob Powers and Mitch Steele founded New Realm in 2016. The brewery’s 20,000-square-foot flagship facility opened in January 2018 along the Atlanta BeltLine’s Eastside Trail.

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TAMPA, FLA. — Plaza Advisors has arranged the sale of Southtown Center, a 43,669-square-foot shopping center located at the intersection of South Dale Mabry Highway and West Neptune Street in Tampa. Hillsborough County records show the asset sold for $19.8 million, or $452 per square foot. Jim Michalak, Mike Cvetetic and Keith Nurre of Plaza Advisors arranged the transaction on behalf of the seller, a Los Angeles-based investor. An Australian entity acquired Southtown Center, which was 97 percent leased at the time of sale to tenants such as Moe’s Southwest Grill, Tropical Smoothie Café, Cold Stone Creamery, Hair Cuttery, Weight Watchers, Massage Envy, Pure Barre, European Wax Center, Burger Monger, DaVita Dialysis and Century 21.

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CHICAGO — Global Builders Inc. has broken ground on a 42,000-square-foot retail development located at 637-647 W. Roosevelt Road in Chicago. The project developer is 635-647 W. Roosevelt Road LLC. Bob’s Discount Furniture will anchor the property and lease two of the three floors. Completion is slated for this fall. James Schutter, Terry Alexa and Luke Sementa of Newmark Knight Frank will handle lease-up of the remaining 10,000 square feet of space on the first floor.

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EWING TOWNSHIP, N.J. — Marcus & Millichap has brokered the sale of a newly constructed Wawa convenience store/gas station at 1300 Silvia Street in Ewing Township for $5.5 million. Ewing Township is four miles northwest of Trenton. The sale price represents a capitalization rate below 5 percent. Jason Petrick of Marcus & Millichap represented the seller, a private REIT, in the transaction and procured the 1031 exchange buyer.

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ARLINGTON AND FARMERS BRANCH, TEXAS — Matthews Commercial Group, a Dallas-based brokerage firm, has arranged the sale of two commercial properties in the Dallas area. Eliud Sangabriel of Matthews represented the seller in the disposition of a 12,000-square-foot retail center in Arlington, which was built in 2006, and a 15,000-square-foot industrial building in Farmers Branch. Jeremy Mercer of Mercer Cos. represented the buyer of the industrial property. Other terms of sale were not disclosed

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