LEE’S SUMMIT, MO. — QuikTrip has expanded its presence in Lee’s Summit with three city-approved Next-Gen convenience stores. Slated for completion in 2017, the new stores represent a more than $15 million investment in the area. The new stores, which each will employ 15 to 17 people, will be located at Mulberry and Missouri Route 291, Missouri Route 291 and Missouri Route 150, and 800 NE Woods Chapel Road. The store at Mulberry and Missouri Route 291 will be new construction, while the other stores will be redeveloped into the company’s Next-Gen store format. The company’s Generation 3 stores are about 5,700 square feet, 1,000 square feet larger than typical QuikTrip stores, and create a more upscale experience. The stores include indoor and outdoor dining areas with a touchscreen for customers to place orders with baristas for hot or cold drinks, smoothies and soft-serve ice cream. Additionally, Next Gen stores also serve alcoholic beverages and fresh food offerings.
AUBURN AND FORT WAYNE, IND. — Bradley Company Commercial Real Estate has completed five transactions in Auburn and Fort Wayne. In the first transaction, Carl Diehm of Bradley represented the landlord, Cenway Center, and the tenant, Agri-Labs Inc., in the lease of 2,160 square feet of retail space at 915 Cardinal Court within Cenway Business Center in Auburn. In the second deal, Tyler Binkley of Bradley represented the Feuser Contracting Inc. in the sale of an 11,992-square-foot office building at 7702 Bluffton Road in Fort Wayne. The name of the buyer and acquisition price were not released. In the third transaction, Stanley Phillips and Kelly Castle of Bradley represented the landlord, RITS Ltd. Brokers in the lease negotiation of retail space at 6127 Stellhorn Road within Maplewood Plaza in Fort Wayne. The name of the tenant and lease size were not released. In the fourth deal, Phillips represented the landlord, Fort Wayne Associates, and Binkley represented the tenant, Phil’s Hobby Shop, in the lease of retail space located within Parkwest Center at 3938 W. Jefferson Road in Fort Wayne. In the last deal, Paul Refakis of Bradley represented the landlord, Lynn Leasing, and Kienan O’Rourke of Bradley represented the tenant, Blasius …
MATTHEWS, N.C. — JPMorgan Chase Bank NA has provided the $60 million refinancing of Windsor Square Shopping Center, a 661,156-square-foot retail power center in Matthews, a suburb of Charlotte. Completed in 1987 and renovated in 2014, Windsor Square was 96 percent leased at the time of financing to tenants such as Sam’s Club, hh gregg, J.C. Penney, PetSmart, Tuesday Morning, Kohl’s, Lifetime Fitness, Ross Dress for Less, Outback Steakhouse, DSW, Shoe Carnival and Mattress Firm. Chris Drew, Brent Bowman and Brian Gaswirth of HFF arranged the 10-year, fixed-rate loan through JPMorgan Chase. The borrower, Sterling Organization, used the loan to pay off a maturing CMBS loan.
ORLANDO, FLA. — Maitland, Fla.-based Equinox Development Properties Inc. is set to begin a $20 million redevelopment of Williamsburg Downs Shopping Center in Orlando. Renovations at Williamsburg Downs — purchased by Equinox in September — will include the enlargement of the anchor Publix location to 45,600 square feet, and upgrades to the center’s lighting, signage, parking lot and landscaping. Improvements are scheduled to begin in early 2017, with completion expected for later that year. Tenants at the center include GNC, Subway, Greenburg Dental and Metro PCS.
NEW YORK CITY — Target has signed a lease for 27,354 square feet of retail space at 500 E. 14th St. in the East Village. The retailer plans to open a flexible format store at the location within Extell Development Co.’s new mixed-use building. Target will occupy 9,649 square feet on the ground floor and 17,705 square feet on the lower level at the two-story, 56,610-square-foot building. The new Target location is slated to open in 2018. Robert Futterman, Ariel Schuster, Brandon Eisenman and Ike Bibi of RKF represented Extell, while Richard Skulnik and Peter Ripka of Ripco Real Estate Corp. represented the tenant in the deal.
MCKINNEY, TEXAS — Wingstop is set to open a new 1,745-square-foot restaurant at The Shops at Eagle Point in McKinney. Britton Lankford of Bright Realty represented the tenant in the transaction, and Vy Le of Quine & Associates represented the undisclosed landlord. Walmart shadow anchors the shopping center, which is also home to tenants including Subway, Mooyah, SportClips Haircuts and Kelly-Moore Paints. An opening for the restaurant has yet to be announced.
DOWNERS GROVE, ILL. — Adelphia Properties has brokered the sale of a newly constructed retail building located at 1201 Ogden Ave. in Downers Grove. A private investor acquired the property from the undisclosed developer for $4.1 million. BMO Harris Bank and Chipotle Mexican Grill occupy the 5,305-square-foot building. Simeon Spirrison and George Spirrison of Adelphia Properties represented the buyer in the deal.
DOWNERS GROVE, ILL. — Metro Commercial Real Estate has arranged the lease of retail space at Butterfield Plaza in Downers Grove. Skechers has leased 8,000 square feet at the retail property. Other tenants at the center include Ross Dress for Less, Catherines, Tuesday Morning and Half Price Books. This location will be Skechers’ 16th store in the Chicagoland market. Steven Baer of Metro Commercial Real Estate represented Skechers in the transaction. The name of the landlord was not released.
INDIANAPOLIS — Lee & Associates has brokered the lease of retail space at 6280 N. College Ave. in Indianapolis. An undisclosed lessee plans to open a 1,860-square-foot Pure Barre location at the site within The Broad Ripple Garage. Crystal Kennard and Scot Courtney of Lee & Associates represented the undisclosed landlord in the transaction.
GRESHAM, ORE. — DDR Corp. has acquired Gresham Town Center, a 296,186-square-foot mixed-use center located in the Portland suburb of Gresham, for an undisclosed price. The retail portion of the property is home to tenants including Best Buy, Bed Bath & Beyond, Craft Warehouse, Cost Plus World Market, Old Navy, Ulta Beauty, Panera Bread, Starbucks Coffee, Old Navy, Men’s Wearhouse, Baja Fresh Mexican Grill and Charming Charlie. The center also contains 12,289 square feet of office space. A 45,000-square-foot, single-tenant LA Fitness located north of the center was also included in the sale. Nick Kassab of HFF represented the seller in the transaction, Westlake Realty Group Inc.