SCOTTSDALE, ARIZ. — DPC Cos. has purchased 7 Thousand Shea, a mixed-use property located at the intersection of Scottsdale Road and Shea Boulevard in Scottsdale. An undisclosed company sold the property for $16 million, or $110 per square foot. Situated on 8.3 acres, the property features 145,000 square feet of mixed-use space. DPC Cos. plans to upgrade the property to include high-end dining, retail and creative office space. ORION Investment Real Estate facilitated the transaction.
HOUSTON — Salata, a Houston-based fast casual salad restaurant, is aiming to open an additional 130 restaurants by 2020, including 30 during the remainder of this year. Additional restaurants will be opening in Houston and Dallas-Fort Worth (DFW) and Oklahoma City, and the company will be rolling out new locations in Florida as well. CBRE will represent Salata in its site selection process and lease negotiations.
PRESCOTT, ARIZ. — NKF Capital Markets has arranged the sale of Prescott Gateway Mall, located at 3250 Gateway Blvd. in Prescott. T. Prescott AZ LLC sold the property to Prescott Gateway Mall Realty Holding for $8.8 million. Situated on 37.9 acres, the 318,503-square-foot property was approximately 75 percent occupied at the time of sale. Dillards, JCPenney, Sears, Bed Bath & Beyond, Michaels, Cost Plus World Market, Pier 1 Imports, Texas Roadhouse, Wild Flower Bread Co., Buckle, Chico’s, Maurie’s, Rue 21 and Victoria’s Secret are tenants at the mall. Thomas Dobrowski and David Guido of NKF aided the buyer and seller in the transaction.
LAKELAND, FLA. — Lakeland-based Publix Super Markets has purchased a portfolio of nine Publix-anchored shopping centers from Madison International Realty and DDRM Properties, an affiliate of DDR Corp. The sales price was not disclosed. The portfolio totals 732,000 square feet, with eight shopping centers located throughout Florida and one located in McDonough, Ga. In 2017, Madison and DDR recapitalized a 52-property portfolio of grocery-anchored shopping centers that DDR Corp. previously owned with other partners for $1.05 billion. Following the nine-property sale, DDRM Properties now has 43 assets spanning 6.3 million square feet left from the original portfolio.
GOLDSBORO, N.C. — Lexington, Ky.-based BC Wood Properties has acquired Memorial Commons, a 111,022-square-foot shopping center located at the corner of Highway 13 and Wayne Memorial Drive in Goldsboro, a city in Wayne County. Harris Teeter anchors the center, which is also home to tenants such as Office Depot, Starbucks Coffee, Anytime Fitness, Subway and Coldwell Banker. The name of the seller and the sales price were not disclosed. With this acquisition, BC Wood Properties owns and operates six shopping centers in North Carolina.
YORKTOWN, VA. — Big Lots has leased vacant anchor space totaling 55,000 square feet at Victory Village, a Hampton Roads-area shopping center formerly known as Williamsburg Marketcenter. Situated on Mooretown Road in Yorktown, the 176,000-square-foot shopping center is also leased to Ross Dress for Less, Holloway Sports and Fitness, Buzz Picasso, Uniforms Plus, Retro Daddio, One Main Financial, Dollar Tree, City Nails and Tropical Smoothie Café. Big Lots plans to open in July in the space formerly housing Ukrop’s Homestyle Foods. The Shopping Center Group’s (TSCG) Virginia office represented the landlord, Miami-based Lionheart Capital, in the lease transaction. Debra Ramey and Karen Mikulski of TSCG are the exclusive leasing agents for Victory Village.
AURORA, ILL. — MidCap Financial has provided an $18 million senior loan for the acquisition and refinancing of a 362,000-square-foot retail center in Aurora. Chicago-based Windfall Group was the borrower. Best Buy, Value City Furniture and Pier 1 Imports anchor the center, which is located north of Fox Valley Mall. Windfall plans to rename the center Pacific Square and remodel it with new restaurants and shops. Jessica Ke of Cushman & Wakefield and John Leslie of Eastern Consolidated arranged the loan.
GLEN ELLYN, ILL. — Adelphia Properties has negotiated the $2.9 million sale of a two-tenant retail building in Glen Ellyn, about 24 miles west of Chicago. Mattress Firm and F45 Fitness occupy the 7,006-square-foot property. Simeon Spirrison and George Spirrison represented the seller, a local developer, in the transaction. A local investor purchased the asset for 98 percent of the list price.
PLANO, TEXAS — MYCON General Contractors has completed the $7.2 million renovation and expansion of the natatorium (a room that houses a pool) of Carpenter Park Recreation Center in Plano. The project, which began in August 2016, added 14,864 square feet to the natatorium. Dallas-based SmithGroupJJR served as project architect.
FORT WORTH, TEXAS — The Silver Group has brokered the sale of a 3,900-square-foot retail property leased to Jack in the Box in Fort Worth. The property is located at 3459 Altamesa Blvd. on the southern outskirts of town. The buyer, seller and sales price were not disclosed.
