SYLVANIA, OHIO — Eidi Properties is redeveloping a 2.3-acre property into a Chick-fil-A restaurant in Sylvania, along the Michigan border. The property, located at 6636 W. Central Ave., will be Chick-fil-A’s fourth freestanding location in the Toledo market and the first location in the Sylvania market. Demolition of the retail building currently at the site is slated for mid-March, and the restaurant is set to open in the summer of 2017.
DURHAM, N.C. — NorthMarq Capital has arranged the $7.3 million refinancing of Hope Valley Commons, a 38,963-square-foot retail property located at 1125 W. NC Highway 54 in Durham. NorthMarq arranged the 15-year loan with a 25-year amortization schedule through an unnamed life insurance company.
ALLEN, TEXAS — Vestar has acquired Twin Creeks Marketplace, a grocery-anchored neighborhood retail center located at 1265 W. Exchange Parkway in Allen, a suburb of Dallas, for an undisclosed price. Sprouts Farmers Market, Verizon Wireless, Starbucks Coffee, Advancial Credit Union, Luxe Nails, Studio Smiles and ATI Physical Therapy occupy the 43,134-square-foot property, which was developed in 2016. Brandon Beeson of EDGE Capital Markets represented the seller, StreetLevel Investments, in the deal. Vestar operates more than 26 million square feet of premium retail space throughout the Western United States.
ATLANTA — The Related Group has selected Balfour Beatty US to construct a multi-level Whole Foods Market store in Midtown Atlanta. Situated on 2.2 acres at West Peachtree and 14th streets, the new store will anchor The Related Group’s Apogee Midtown, a 39-story high-rise apartment tower that Balfour Beatty US is also constructing. The new 72,000-square-foot store will feature a microbrewery and a rooftop patio bar. Phillips Partnership Inc. designed the new Whole Foods, which The Related Group expects to deliver in the first quarter of 2018.
ELYRIA, OHIO — Integra Real Estate Capital has arranged a $17.5 million bridge loan for the acquisition of Midway Market Square in Elyria, about 23 miles west of Cleveland. The 224,330-square-foot shopping center is positioned along Interstate 80. Built in 2001, Giant Eagle anchors the center, which includes other tenants such as Dick’s Sporting Goods, Jo-Ann Fabrics & Crafts and Pet Supplies Plus. Meyer Perlman of Integra secured the three-year loan on behalf of a New York-based investment group through a balance-sheet lender.
BRIDGETON, MO. — McGrath & Associates has completed a $1.3 million renovation of a Montgomery Bank in Bridgeton, about 24 miles northwest of St. Louis. The construction included a redesign of the branch and the addition of an AT&T retail store. McGrath’s renovation of the 5,100-square-foot building included exterior finishes and ACM panels, modern interior finishes, drive-thru lanes and canopy, new HVAC air handlers, and utility services. Verve Design Studio was the architect.
TUCSON, ARIZ. — Cushman & Wakefield has arranged the $4.2 million sale of a 3,616-square-foot Raising Cane’s restaurant in Tucson. The single-tenant property is occupied under a 20-year, triple-net lease to Micatrotto Holdings DBA Raising Cane’s. Micatrotto Restaurant Group backs the lease. Chris Hollenbeck of Cushman & Wakefield represented the seller, Phoenix-based Eisenberg Co. Chris Rodriguez of Pacific Northwest represented the buyer, Leal 2002 Family Trust.
AUSTIN, TEXAS — Los Angeles-based BH Properties has acquired the former Golfsmith International Holdings Inc. headquarters facility in Austin out of Golfsmith’s bankruptcy liquidation process for $20.5 million. Situated on 40 acres, the four-building, 332,345-square-foot property features a 93,000-square-foot building, which housed retail and office space, and three manufacturing and distribution facilities totaling 239,000 square feet. BH Properties was represented in-house, while Michael Jerbich of A&G Realty Partners represented Golfsmith in the deal.
MCKINNEY, TEXAS — Younger Partners has arranged the sale of a 1.6-acre land parcel located at McKinney Ranch Parkway and Lake Forest Boulevard in McKinney. An undisclosed developer acquired the property and plans to construct a 15,000-square-foot retail center on the site. John St. Clair and Kevin Harrell of Younger Partners represented the buyer, while Bry Taylor of Bryson Messer Properties represented the undisclosed seller. The acquisition price was not released.
HUNTSVILLE, ALA. — Topgolf has confirmed Huntsville as its second location in Alabama. Topgolf will be located on the property that RCP Cos. is redeveloping into MidCity. Construction on the 53,000-square-foot Topgolf will begin in March, with an expected opening in late December 2017 or early January 2018. Topgolf will create 325 full- and part-time jobs at the new Huntsville location. The new three-level venue will feature 1,500 square feet of private event space and 72 climate-controlled hitting bays that can host up to six players at one time. Each venue features chef-driven food and beverage menu, music, private rooms for corporate and social events and hundreds of HD TVs.
