SAN ANTONIO — Cruising Kitchens, a fabricator of food trucks and mobile offices, will open a 61,000-square-foot production facility in San Antonio on May 18. The facility will be located at 2100 Mannix Drive near the San Antonio International Airport on the city’s north side, and will include an interactive lobby, viewing windows and a showroom.
HOUSTON AND SUGAR LAND, TEXAS — Breakfast chain The Toasted Yolk Café will open two additional restaurants in the Houston area, including a 5,000-square-foot restaurant in the Galleria area of Houston and a 5,954-square-foot restaurant in the southwestern suburb of Sugar Land. The Toasted Yolk will have seven locations in Houston following the opening of these venues, both of which are slated for August. Paul Vernon of Henry S. Miller Brokerage Co. represented The Toasted Yolk in the lease negotiations for the new spaces.
SAN ANTONIO — Retail Properties of America Inc. (RPAI) has secured two new retail leases totaling 7,300 square feet at Huebner Oaks, a 285,000-square-foot, open-air shopping destination in San Antonio. Jeweler James Avery will open a 6,100-square-foot store and francesca’s, a women’s clothing and accessories retailer, will open a 1,200-square-foot store. The stores are scheduled to open in the summer of 2018 and early 2019, respectively.
SHEFFIELD AND STREATOR, ILL. — SVN | Chicago Commercial has brokered the sale of two properties occupied by Dollar General in Illinois for a combined $2.4 million. One property is located at 435 Railroad St. in Sheffield and the other is situated at 110 E. Livingston Road in Streator. Deena Zimmerman of SVN represented the buyer, who has now purchased six Dollar Stores within 16 months. The seller was not disclosed.
ST. GEORGE, UTAH – Faris Lee Investments has brokered the sale of a single-tenant retail property located at 1596 S. Convention Center Drive in St. George. An undisclosed seller sold the building for $2.2 million. Jack in the Box occupies the 3,260-square-foot property on a triple-net leased basis. Joe Chichester, Thomas Chichester and Matt Brooks of Faris Lee represented the buyer, a Northern California-based private investor, while NAI Excel represented the seller.
SALT LAKE CITY — Newmark Grubb ACRES, a Utah-based brokerage firm, has arranged the sale of a portfolio of single-tenant retail properties leased to Codale Electric Supply Inc., a Salt Lake City-based distributor of electric, energy and lighting products. The sales price was $91.3 million. The portfolio includes nine properties, six of which are located in Utah. One of the assets is in Nevada (Elko), and two of the properties are in Wyoming (Rock Springs and Casper). Codale has a total of 13 retail locations throughout the western United States. According to Codale’s website, its stores range in size from 15,000 square feet to 54,000 square feet, not including the company’s 210,000-square-foot headquarters, which was one of the assets included in the portfolio sale. All totaled, the portfolio spans 476,500 square feet. Bryce Blanchard of Newmark Grubb ACRES represented the seller, Holt Properties, a real estate company owned and operated by the Holt family, which founded Codale Electric in 1975. Blanchard also procured the buyer, an undisclosed, out-of-state REIT. Sonepar, a French electronics distribution firm, acquired Codale in 2012. — Taylor Williams
DALLAS — Northwood Retail, an affiliate of national investment advisory firm Northwood Investors, has begun the renovation of Hillside Village, a 169,229-square-foot shopping center in Dallas. Northwood is upgrading the facades, lighting and roofs of the spaces, as well as delivering a new parking and sidewalk system. The renovation project is expected to be complete by year’s end. New tenants joining the property, which was built in 1954, include Session Pilates, Villa Nail Spa and Hillside Tavern.
DAYTONA BEACH, FLA. — Sutton Properties has signed Publix to anchor Latitude Landings, the 200,000-square-foot retail portion of Latitude Margaritaville Daytona Beach, an active adult community. Margaritaville Holdings and Minto Properties are developing the community, and Sutton Properties is developing and leasing the project’s retail portion, dubbed Latitude Landings. Publix will occupy 48,000 square feet at the shopping center, which will be located on LPGA Boulevard, adjacent to the development’s residential community and accessible by golf cart. Slated to open in the second quarter of 2019, the new grocery store will include grab-and-go prepared meals, an in-store café and a Publix Liquors store. The first phase of Latitude Margaritaville includes 378 home sites. Current plans call for 3,000 homes, with the possibility to expand to a total of 6,000 homes at full build-out. The community is designed for adults ages 55 and older.
PALATINE, ILL. — Colliers International has brokered the sale of a former Jaguar car dealership in Palatine, located about 35 miles northwest of Chicago. The sales price was not disclosed, but the asking price was $3.3 million. Studio 41, a kitchen and bath plumbing fixtures manufacturer, purchased the 30,000-square-foot property with plans to convert it into a home design showroom. Upon completion, the property will be open to homeowners, contractors, designers and architects. Anne Dempsey of Colliers represented the seller, Morries Automotive Group.
CASTLE ROCK, COLO. – Pinnacle Real Estate Advisors has arranged the sale of a multi-tenant retail property located at 1341 New Beale St. in Castle Rock. A Colorado-based developer sold the property to a California-based private investor for $5 million, or $601 per square foot, in a 1031 exchange. The newly built property features 8,318 square feet of retail space. At the time of sale, the property was fully occupied by Potbelly Sandwich Shop, Smoothie King, European Wax Center, Fine Nails and Beau Thai.
