FREDERICKSBURG, VA. — Calkain Cos. LLC has arranged the $15.6 million sale of a property net leased to Publix in Fredericksburg, a town in northern Virginia. The 49,098-square-foot store, located at 9601 Jefferson Davis Highway, opened in July. The store is located within Cosner’s Corner shopping center, which is home to tenants such as Super Target and Kohl’s. Jonathan Hipp of Calkain arranged the transaction on behalf of the seller, Silver Cos. Publix Super Markets acquired the asset, exercising its Right of First Refusal. The property is net-leased to Publix for 20 years and is the furthest north store for the Lakeland, Fla.-based grocer.
FAIRLESS HILLS, PA. — CBRE has arranged a 65,000-square-foot lease for indoor entertainment center Funzilla at the Fairless Hills Shopping Center in Fairless Hills, located about six miles southwest of Trenton, New Jersey. The adventure park offers a range of activities that include multi-level indoor go-karts, wall-to-wall trampolines, arcade games, climbing walls, ninja obstacles, dodgeball and a three-level playground. Jay Miller and Jim Creed of CBRE represented the property owner, The Klein Group, and the tenant, in the transaction. Funzilla is slated to open for business this winter. The indoor facility will be open seven days a week. Other tenants at the shopping center include Big Lots! and Retro Fitness.
NORTHRIDGE, CALIF. — PacWest Management has purchased Northridge Promenade, a neighborhood shopping center located at 19510-19530 Nordhoff St. in Northridge. The buyer acquired the property for $16.4 million through the Ten-X online auction platform. The seller was LNR Partners. Situated on 4.9 acres, the 89,473-square-foot property was 82 percent occupied by 25 tenants at the time of sale. Guitar Center is the anchor tenant. Additionally, the property sold as a “covered land play,” which provides the opportunity for potential residential and/or mixed-use development while receiving a definable income stream in the interim. Dixie Walker and Charley Simpson of Cushman & Wakefield represented the seller, while the buyer was self-represented in the deal.
DENVER — Unico Properties, with Confluent Development as construction manager, has delivered The Circa Building, a 96,000-square-foot mixed-use building located at 1615 Platte St. in Denver. The four-story building features 80,000 square feet of office space on the top three levels, 10,000 square feet of Class A retail and restaurant space on the ground level, and three levels of underground parking. Xero, an online accounting software provider, has leased 30,000 square feet of space at the property and will occupy the entire top floor of the building. Unico Properties is the owner and developer of the project, with Confluent Development managing the project’s entitlement and construction. Swinerton Builders served as general contractor and Open Studio Architecture served as architect. JLL is the broker for the office space, and Cushman & Wakefield serves as the retail lease broker.
TAYLOR, MICH. — Crunch Fitness has signed a lease to occupy a 29,200-square-foot building for its fourth Michigan location. The property is located at 21592 Ecorse Road in Taylor, a southwest suburb of Detroit. Michele Rosenblum of Dominion Real Estate Advisors and Alan Stern of Friedman Real Estate negotiated the lease on behalf of Crunch. The landlord was not disclosed. Crunch expects to expand to additional Michigan locations in the coming months, according to Dominion.
WHEELING, ILL. — Two new restaurants have signed leases at Wheeling Town Center, which is slated to open in early 2019. Meat and Potato Eatery and Eggsperience will occupy 4,000 square feet each and provide outdoor seating for patrons. Both restaurants have other locations in the Chicagoland area. The retail portion of Wheeling Town Center is now 83 percent leased. Previously signed tenants include City Works Eatery and Pour House, Mia’s Cantina, Starbucks, Inland Bank, CMX Cinemas, 312 Nails & Spa and The Learning Experience. The Lynmark Group is the developer for the mixed-use project.
CHICAGO — Westwood Financial has purchased Clybourn Galleria in Chicago’s Lincoln Park neighborhood for an undisclosed price. The 24,601-square-foot retail center is located at 1841-1847 N. Clybourn Ave. Constructed in 2005, Clybourn Galleria is fully leased to tenants such as Natuzzi Italla Furniture, Jos. A. Bank, SWEAT, Massage Envy, Amazing Lash, Smartchoice MRI and Red Wing Shoes. Amy Sands and Clinton Mitchell of HFF marketed the property on behalf of the seller, Newport Capital Partners.
ALBUQUERQUE, N.M. — Sapir Real Estate Development has broken ground on the first phase of Snow Heights Promenade, a retail and entertainment project in Albuquerque. The $45 million phase will include a skyline live entertainment stage that will feature live DJ’s, concerts, comics, family movies, magic and puppet shows. In addition, Snow Heights Promenade will feature a children’s play area, dog park, restaurants, pubs, entertainment venues and retailers. Signed tenants at the development include Altitude Trampoline Park, Alamo Theaters, Fatburger, Outback Steakhouse, Juice It Up, Joe’s Pizzeria, U Choose Tacos, Divalish Desserts and Albuquerque Fitness Center, among others. The second phase of the project will include a $100 million office building with a rooftop dining experience. Sapir Real Estate Development expects to deliver the first phase of the project in January 2019.
LOS ANGELES — Charles Dunn Co. has arranged the sale of a development site located at 729 S. Park View St. in Los Angeles. Salem Missionary Baptist Church sold the asset to Safeco LLC for $2.8 million. The 18,000-square-foot site features a 4,100-square-foot building, which the seller formerly occupied. The buyer, which owns an adjacent parcel, plans to develop 150 residential units and potentially ground-floor retail at the site. Chris Giordano, Chris Steck and John Anthony of Charles Dunn Co. represented the seller and buyer in the deal.
LAKE BLUFF, ILL. — Quantum Real Estate Advisors Inc. has arranged the $1.5 million sale of a single-tenant retail building occupied by Sherwin Williams in Lake bluff, about 35 miles north of Chicago. The 3,799-square-foot building is located at 545 Rockland Road. Sherwin Williams has a 10-year lease at the property. A private real estate investor based in suburban Chicago purchased the asset. Chad Firsel of Quantum represented the seller, a Chicago-based acquisition and development company.