Retail

Golden Corral to Open 12,936 SF Restaurant in Ontario

by Nellie Day March 24, 2017

ONTARIO, CALIF. — Progressive Real Estate Partners has arranged a 15-year lease with Golden Corral for a 12,936-square-foot restaurant at 1640 E. 4th St. in Ontario. Construction is slated to begin in April and the restaurant is projected to open in late 2017. Located in the Kmart-anchored Vineyard Freeway Center, the project is located near I-10, with an average daily traffic count of 237,000 cars passing by the location. Progressive Real Estate Partners’ Paul Su marketed the property and represented both Golden Corral and the lessor in the transaction. In addition to Kmart, the 163,000-square-foot center is also home to tenants including RadioShack and Domino’s Pizza. Coupled with the new Golden Corral, the landlord is embarking upon a renovation of the 60,000 square feet of shop space that will include enhanced facades, a new color scheme and parking lot renovations.

March 24, 2017

Retail Texas

Silver Group Arranges Sale of 43,000 SF LA Fitness in North Dallas

by Taylor Williams March 24, 2017

DALLAS — The Silver Group has arranged the sale of a single-tenant property occupied by LA Fitness, located at 13130 Preston Road, in Dallas. The 43,000-square-foot fitness center sits on 5.25 acres of land at Preston Road and the LBJ Freeway and is situated across the street from the old Valley View Mall, which is being transformed into a mixed-use development. The seller was an unnamed real estate investment trust, and the buyer was a Texas-based partnership formed to acquire the property. The Silver Group was the only broker involved with the sale.

March 24, 2017

Retail Texas

EDGE Brokers Sale of 22,461 SF Retail Property in The Colony, Texas

by Taylor Williams March 24, 2017

THE COLONY, TEXAS — EDGE Realty Capital Markets has brokered the sale of Service King The Colony, a 22,461-square-foot retail property located at the corner of Paige Road and Sam Rayburn Tollway in The Colony, a northern suburb of Dallas. Brandon Beeson and Stroud Arthur of EDGE represented the seller, SK 5270 Memorial LP, a Texas-based firm. The sale price and the representative of the buyer, National Retail Properties LP, were not disclosed.

March 24, 2017

Nevada Retail Western

GTM Architects Collaborates on 17,700 SF Sugar Factory Location in Las Vegas

by Nellie Day March 24, 2017

LAS VEGAS — GTM Architects has completed design work with Sugar Factory American Brasserie at six new locations across the U.S., including its largest restaurant in Las Vegas. At 17,700 square feet on two levels, the Las Vegas location includes an indoor dining room plus two outdoor patios on both levels, a 14-seat mini-carousel leading to a private gazebo, a full service café, a bulk candy selection in the confectionary shop, and an upscale Chocolate Lounge spanning more than 3,000 square feet.

March 24, 2017

Mixed-Use Multifamily New York Northeast Retail

TerraCRG Arranges $2.2M Sale of Mixed-Use Building in Brooklyn

by Haisten Willis March 24, 2017

NEW YORK CITY — TerraCRG has arranged the $2.2 million sale of 205 Wyckoff Ave., a mixed-use building located between Harman Street and Greene Avenue in the Bushwick neighborhood of Brooklyn. TerraCRG’s Matt Cosentino, Eric Satanovsky and Fred Bijou handled the transaction. The three-story brick building includes five residential units and a retail space located near the DeKalb Avenue L train and the Myrtle-Wyckoff M&L trains. The buyer and seller were not disclosed.

March 24, 2017

New York Northeast Retail

ARM Real Estate Negotiates $1.8M Sale of Retail Property in Queens

by Haisten Willis March 24, 2017

NEW YORK CITY — ARM Real Estate group has negotiated the sale of 31-52 Steinway St. in the Astoria neighborhood of Queens for $1.8 million. The two-story, 1,944-square-foot retail building was delivered vacant at closing and the new owner has put the asset up for lease. The property, built in 1930, sits between Broadway and 31st Avenue, two blocks away from the M and R subway stops. Anand Melwani and Alexandre Goulet of ARM Real Estate Group represented both parties in this transaction. Alexandre Geis was the seller and 31 Steinway 52 LLC was the buyer.

March 24, 2017

Indiana Midwest Retail

RD Management Sells 112,900 SF Former Sears Building in South Bend, Indiana

by Kristin Harlow March 24, 2017

SOUTH BEND, IND. — RD Management LLC has sold a former Sears Essentials building located at 4640 S. Michigan St. in South Bend. A national retailer purchased the 112,900-square-foot property for an undisclosed price. The vacant building sits on 16 acres near U.S. Highway 31. A Ford dealership and Aldi supermarket are adjacent to the property, and Erskine Commons and Erskine Plaza centers are nearby. RD Management sold the asset as part of the company’s strategy to reposition its portfolio as a more diversified group of properties.

March 24, 2017

Michigan Midwest Restaurant Retail

NAI Wisinski Arranges Sale of 5,720 SF Restaurant Building in Grand Rapids, Michigan

by Kristin Harlow March 24, 2017

GRAND RAPIDS, MICH. — NAI Wisinski has arranged the sale of a 5,720-square-foot restaurant building in Grand Rapids. Georgina’s Fusion Cuisine, a Traverse City-based Asian and Latin taqueria, purchased the two-story building for an undisclosed price. Located at 724 Wealthy St., the property will feature a 2,860-square-foot restaurant on the first floor and two apartments on the second floor. The building will undergo major renovations for the full-service restaurant before an anticipated opening this summer. This will be Georgina’s second location in Michigan. Todd Leinberger of NAI Wisinski arranged the sale on behalf of Georgina’s. Dave Zeemering of Victory Realty represented the seller, who is retiring from his retail business, Phil’s Stuff.

March 24, 2017

Retail Texas

Adolfson & Peterson Completes Parking Garage in Downtown Fort Worth

by Taylor Williams March 23, 2017

FORT WORTH, TEXAS — Adolfson & Peterson Construction has completed Cowtown Place Garage, a 312,500-square-foot, nine-story parking deck with 26,000 square feet of retail space on the ground level. Located next to Sundance Square in downtown Fort Worth, the structure houses 850 parking spaces. Woodbranch Investments served as general contractor on the project.

March 23, 2017

Retail Texas

Marcus & Millichap Brokers Sale of Self-Storage Facility in Katy

by Taylor Williams March 23, 2017

KATY, TEXAS — Marcus & Millichap has closed the sale of Longhorn Self Storage, a 334-unit self-storage facility located at 22223 Kingsland Blvd. in the Houston submarket of Katy. Dave Knobler of Marcus & Millichap represented the seller, an undisclosed limited liability company, and procured the buyer, a Houston-based limited liability company.

March 23, 2017

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