ADDISON, TEXAS — Locally based shopping center owner Northwood Retail has added five new tenants to Prestonwood Place, a 107,000-square-foot center located in the northern Dallas suburb of Addison. One Medical, a membership-based primary care practice, is now open, and Loro Asian Smokehouse & Bar will open later this year. Two other food-and-beverage concepts, Thai restaurant Asian Mint and fast-casual eatery Sweetgreen, are also slated to launch before year’s end. Buff City Soap will open its store in 2023.
ATLANTA — GID, the developer of the $2 billion High Street mixed-use project in Atlanta’s Central Perimeter district, has executed a lease with Parker Hospitality to bring a Hampton Social restaurant to the development. The coastal-inspired restaurant chain is part of the first phase of the 36-acre project and is set to open in 2024. Hampton Social will span 10,455 square feet across two levels and serve cocktails, its famed “rosé all day” menu and seasonal seafood food for lunch, dinner and weekend brunch. The Hampton Social has locations throughout the United States including Illinois, Florida and Tennessee, and High Street will be its first location in Georgia. Led by GID, High Street’s first phase is under construction and encompasses approximately 150,000 square feet of entertainment-driven retail and restaurant space, a central events plaza, 600 luxury apartments, 90,000 square feet of loft offices and 222,000 square feet of existing office space. Earlier this year, GID announced Puttshack as an entertainment anchor for High Street’s first phase. Molly Morgan is leading the retail leasing assignment for High Street, along with Allie Spangler and 10Twelve, JLL’s boutique agency leasing team.
NAPERVILLE, ILL. — The Boulder Group has brokered the sale of a restaurant property net leased to KFC and Taco Bell in the Chicago suburb of Naperville for nearly $2 million. The 2,982-square-foot building is located along Reflection Drive. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, a Midwest-based real estate investor completing a 1031 exchange. A Southeast-based real estate company was the seller.
NEPTUNE, N.J. — KPOT Korean BBQ & Hot Pot has signed a 10,000-square-foot restaurant lease at Neptune Plaza Shopping Center in coastal New Jersey. The restaurant now has 10 locations throughout the Tri-State area. Kevin Pelio of Azarian Realty Co. represented the undisclosed landlord in the lease negotiations. Stephan Miller of Welco Realty represented the tenant.
PIQUA, OHIO — The Cooper Commercial Investment Group has brokered the $2.8 million sale of a newly built retail property occupied by Starbucks in Piqua, about 27 miles north of Dayton. The net leased building is situated near the Miami Valley Crossing shopping center. Starbucks has a 10-year lease with 10 percent rental increases every five years. Dan Cooper of Cooper Group represented the seller, a Midwest-based developer. The Missouri-based buyer purchased the property at the full ask price, representing a cap rate of 4.7 percent.
PORTLAND, ORE. — Dwight Capital has provided a $17.5 million HUD 223(f) loan for Everett Street Lofts, a mixed-used development in Portland. Josh Sasouness of Dwight Capital originated the transaction, and Lake Oswego-based McBride Capital was the correspondent. Built in 2021, the property features 117 apartments and three ground-floor retail spaces. Community amenities include a dog wash station, keyless security access system, indoor bicycle storage and in-unit washers/dryers. Mikiko Mochi Donuts and Concrete Treehouse Salon occupy the retail space.
COVINA, CALIF. — SBH Real Estate Group has completed the disposition of a restaurant property located at 1477 N. Azusa Ave. in Covina. HB Property Management acquired the asset for $4.6 million. Pollo Campero, a fast-casual restaurant, signed a 15-year, triple-net ground lease for the property. Construction is almost complete on the restaurant, which is slated to open at the end of September. Matt Schwartz of Newmark represented Eric Silverman of SBH Real Estate Group, while Moon Lim of JLL represented the buyer in the deal.
ATLANTA — SJC Ventures has signed several new tenants to join Phase II of The Interlock, a $750 million mixed-use development underway in Atlanta’s West Midtown district. New concepts joining include Starbucks, Kura Revolving Sushi Bar, Salon Lofts and Five Guys. SJC Ventures expects to announce a new round of tenants in the near future. In addition to the newly announced restaurants and salon, the second phase of The Interlock will be anchored by a 42,000-square-foot Publix grocery store, 670 student housing units for Georgia Tech students, 275,000 square feet of commercial space and limited restaurant opportunities. Construction on Phase II began in May 2021, and SJC Ventures plans to fully open the second phase in 2024. Phase II of The Interlock will be connected to Phase I, which is anchored by a Puttshack, the Bellyard hotel and Rooftop L.O.A., via a one-acre public park.
CHICAGO — SVN Chicago Commercial has negotiated a new lease for the former Beacon Tavern restaurant space in Chicago. Lady May, a Garrett Hospitality Group concept, will occupy the space beginning late this year. Lady May is an eatery and cocktail parlor that serves southern coastal fare. Leslie Karr and Lorile Herlihy of SVN Chicago Commercial negotiated the 10-year lease. The 6,700-square-foot property will also include an outpost of Sushi|Bar.
MONCKS CORNER, S.C. — Branch Properties has added new retailers and restaurants to the tenant lineup at Moncks Corner Marketplace, a Publix-anchored shopping center in the Charleston suburb of Moncks Corner. Branch Properties co-lists the 75,267-square-foot center with Hannah Kamba and Tim Rowley of Coldwell Banker Commercial Atlantic. Set to open at the corner of U.S. Highway 52 and Cypress Gardens Road later this summer, the shopping center’s 48,387-square-foot Publix store will feature a covered outdoor café on the second floor. Other tenants joining Moncks Corner Marketplace include locally owned pub Dog & Duck; pet retailer and groomer Woof Gang Bakery; family-owned taco kitchen Viva Tacos & Tequila; Japanese restaurant Kyoto Sushi & Hibachi; Chinese takeout restaurant Super Pan; locally owned beverage store EJ’s Wine & Spirits; nail salon Magic Nail; forestry insurance firm Swamp Fox Agency; Pacific Dental Services; and hair removal studio Brazilian Wax & Spa by Claudia. In addition to Moncks Corner Marketplace, Branch Properties is currently developing six other Publix-anchored centers around the Southeast.