Retail

Signorelli to Welcome Nine Restaurants to Houston’s Valley Ranch Town Center by Summer 2018

by Taylor Williams December 20, 2017

HOUSTON — Signorelli Co., the developer of the 240-acre Valley Ranch Town Center (VRTC) mixed-use development in northeast Houston, will welcome nine new restaurants to its tenant roster by summer 2018. Breakfast and lunch eatery The Toasted Yolk Café and frozen yogurt franchise Menchies are both scheduled to open in the spring of 2018, along with a third location at VRTC for Italian restaurant Pizza Cucinova. Japanese restaurant Airi Poke and Ramen is slated to open next summer. Other dining options opening soon include Gringo’s Mexican Kitchen, Buffalo Wild Wings, RC’s NYC Pizza & Pasta, Shogun Japanese Grill & Sushi Bar and Schlotzky’s.

December 20, 2017

Retail Texas

H-E-B to Open Store in Metro Fort Worth in 2019

by Taylor Williams December 20, 2017

HUDSON OAKS, TEXAS — Texas-based grocer H-E-B will open a new store in Hudson Oaks, a western suburb of Fort Worth, in 2019. The store will be located at the corner of U.S. Highway 180 and Hudson Oaks Drive. The Hudson Oaks store, the size of which has not yet been determined, will be the company’s fourth location in North Texas.

December 20, 2017

Midwest Missouri Retail

Knoebel Completes Construction of $54M Shopping Mall in St. Peters, Missouri

by Kristin Harlow December 20, 2017

ST. PETERS, MO. — Knoebel Construction has completed The Shoppes at Mid Rivers in St. Peters, a suburb of St. Louis. The project is the largest mall to be built in St. Charles County since 2008. The 270,000-square-foot shopping center includes 14 buildings on 28 acres just north of I-70. Academy Sports + Outdoor, Burlington, Marshalls, Home Goods, Ulta Beauty, OshKosh B’gosh, Five Below, Famous Footwear and Aspen Dental have opened at the property. Ross Dress for Less, Sleep Number, Sprint and World Financial are slated to open in early 2018. Approximately 50 subcontractor companies worked on the project. The shopping center will employ 750 full- and part-time employees, according to developer GBT Realty Corp.

December 20, 2017

Michigan Midwest Retail

Mid-America Arranges Sale of 273,029 SF Retail Center in Livonia, Michigan

by Kristin Harlow December 20, 2017

LIVONIA, MICH. — Mid-America Real Estate Corp. has arranged the sale of Millennium Park shopping center, a 273,029-square-foot retail center in Livonia, a suburb of Detroit. Grand Sakwa Properties acquired the asset for an undisclosed price. Ben Wineman of Mid-America arranged the transaction on behalf of the seller, Ramco-Gershenson Properties Trust. Millennium Park shopping center is home to tenants including The Home Depot, Marshalls, Michaels, PetSmart and Ulta Beauty. Costco and Meijer anchor the center.

December 20, 2017

Maryland Retail Southeast

Neuman Commercial Group Closes $21M Sale of Retail Center in Metro D.C.

by Camren Skelton December 20, 2017

BOWIE, MD. — Neuman Commercial Group LLC has arranged the $21 million sale of The Shoppes at Bowie Town Center, a 104,000-square-foot retail center in Bowie, a suburb 18 miles east of Washington, D.C. Gil Neuman of Neuman Commercial Group arranged the transaction on behalf of the seller, Shoppes at Bowie Town Center LLC, and procured the buyer, J.A.R. New York RLT. The center was 98 percent leased at the time of sale to 12 tenants including Five Below, Party City, Goodwill, Bank of America, A.C. Moore, Music & Arts, David’s Bridal, Sprint and California Tortilla. The Shoppes at Bowie Town Center is a specialty extension of the 578,000-square-foot Bowie Town Center, an open-air shopping center leased to tenants including Safeway, Macy’s, Best Buy, Off Broadway Shoes, LA Fitness, Chipotle Mexican Grill and Barnes & Noble.

December 20, 2017

Arizona Retail Western

Cushman & Wakefield Brokers $25.8M Sale of Sprouts-Anchored Center in Chandler, Arizona

by Nellie Day December 19, 2017

CHANDLER, ARIZ. — Cushman & Wakefield has arranged the $25.8 million sale of The Plant, a newly developed, 56,831-square-foot shopping center in Chandler. Ryan Schubert and Michael Hackett of Cushman & Wakefield arranged the transaction on behalf of the seller, Common Bond Development Group. Sarofim Realty Advisors acquired the asset. Sprouts Farmers Market anchors the center, which was fully leased at the time of sale to tenants including Dairy Queen, Café Rio and Starbucks Coffee.

December 19, 2017

Colorado Retail Western

Confluent Breaks Ground on Grocery Component of 20,000 SF Retail Project in Colorado

by Nellie Day December 19, 2017

CENTENNIAL, COLO. — Confluent Development has broken ground on the grocery portion of a 20,000-square-foot retail project located within The Ridge, a mixed-use development in the Denver suburb of Centennial. Upon completion, the project will feature three freestanding retail buildings. Confluent Development is partnering with Equity Ventures Commercial Development to deliver a 13,300-square-foot, build-to-suit building for Natural Grocers. The organic grocer will move into the new space in the third quarter of 2018. The project also includes a 2,000-square-foot, freestanding Starbucks Coffee, which opened in September. The third portion of the project will add an additional freestanding building, totaling 4,200 square feet. The Ridge mixed-use development includes a Holiday Inn, Centennial Gun Club, two office buildings and additional retail and restaurant buildings.

December 19, 2017

Massachusetts Northeast Retail

Black Creek Capital Sells 49,561 SF Shopping Center in Cohasset, Massachusetts, to Crosspoint Associates

by Amy Works December 19, 2017

COHASSET, MASS. — Black Creek Capital has completed the disposition of Cohasset Village Plaza, a convenience-oriented shopping center located in Cohasset. Crosspoint Associates acquired the 49,561-square-foot property for an undisclosed price. Situated along Route 3A, the property is co-tenanted by CVS/pharmacy, Curtis Liquors and Starbucks Coffee. Geoffrey Millerd, Justin Smith and Christian Brannelly of NKF Capital Markets’ Boston office represented the seller in the transaction.

December 19, 2017

Florida Retail Southeast

GBT Realty Buys 108,500 SF Vacant Kmart Site in Southwest Florida

by Camren Skelton December 19, 2017

PORT CHARLOTTE, FLA. — GBT Realty Corp. has acquired a 75-year ground lease, including a 108,500-square-foot retail building and nine-acre land site, in Port Charlotte, roughly 40 miles south of Sarasota. The Brentwood, Tenn.-based real estate firm acquired the asset from 19400 Cochran Boulevard Holdings LLC for an undisclosed price. GBT Realty plans to renovate and upgrade the building, which currently houses a vacant Kmart. The firm will also expand the building with new structures to accommodate retail, services and restaurant tenants. Best Buy, Walmart and The Home Depot anchor the corridor, located at the intersection of Tamiami Trail/US Highway 41 and Cochran Boulevard.

December 19, 2017

Illinois Midwest Retail

Marcus & Millichap Brokers $2.4M Sale of Retail Property in Crestwood, Illinois

by Kristin Harlow December 19, 2017

CRESTWOOD, ILL. — Marcus & Millichap has brokered the sale of a 4,800-square-foot retail property in Crestwood, about 25 miles southwest of Chicago, for $2.4 million. The building, located at 13430 South Cicero Ave., is 100 percent leased to T-Mobile, Jersey Mike’s and Sport Clips. Sean R. Sharko and Austin Weisenbeck of Marcus & Millichap marketed the property on behalf of the seller, a developer. Brendan Lee of Marcus & Millichap secured and represented the buyer, a limited liability company.

December 19, 2017

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