CYPRESS, TEXAS — Lee & Associates’ Houston office has brokered the sale of 1.7 acres at Barker Cypress Road near Highway 290 in Cypress. Patrick Wolford of Lee & Associates represented the seller, Rileigh LLC. Hunington Properties Inc. represented the unnamed buyer, and will be retained for the leasing and management of a planned 15,000-square-foot retail center at the site. The center will be known as Barker @ 290 Center.
PHILADELPHIA — Breslin Realty Development Corp. has announced the opening of a new 58,980-square-foot ShopRite Supermarket at 330 Oregon Ave. in south Philadelphia. The store occupies a former Pathmark store and is operated by Colligas Family Markets, members of the Keasbey, N.J.-based Wakefern Food Corp., a co-operative of more than 250 independently owned stores. The store is located at Whitman Plaza, which has recently undergone an $8 million renovation. The new supermarket was renovated to include a fresh bake shop; full-service meat and seafood departments; prepared foods and catering; and grab-and-go meals such as sandwiches, heat-and-eat entrees and Asian cuisine. The store also features a specialty cheese department, an in-store café, and a shop-at-home delivery service. It employs around 300 workers. Other tenants at the community shopping center include Burlington Coat Factory, Ross Dress for Less, Pet Valu, PennDOT, Club Metro USA, Citizens Bank, Rainbow Shoppes, GameStop, GNC, Payless Shoe Source, and Party City. Breslin Realty Development Corp. manages the center, which was built in 1980 by the Breslin organization, and was previously renovated in 2003. It now sports a new façade and more than 20,000 square feet of updated interior space. Frankie Campione of CREATE Architecture Planning & Design …
JACKSON, MISS. — Newk’s Eatery, the Jackson-based fast casual restaurant chain, has signed a development agreement with Indy Eatery LLC to open 15 locations in metro Indianapolis and southern Indiana over the next several years. Co-owned by Stephen Mabe and Mitas Garrett Investments LLC, Indy Eatery is the fourth multi-unit franchisee to sign a development agreement with Newk’s Eatery this year. Combined, the new franchisees will open almost 40 new restaurants in the next five years, consistent with Newk’s goal to reach 200 locations by 2019. Indy Eatery plans to open Indiana’s first Newk’s restaurant in 2017.
OWINGS MILLS, MD. — Wegmans, a supermarket chain, plans to open a 109,000-square-foot store at Foundry Row in Owings Mills on Sunday. Greenberg Gibbons and Vanguard are co-developing Foundry Row, a $140 million, 50-acre redevelopment of the site of the former Solo Cup factory on Reisterstown Road. The store will be Wegmans’ eighth location in Maryland and the second in Baltimore County. One of the first stores to open at Foundry Row, the new Wegmans will feature a Market Café with a seating area and The Burger Bar restaurant. A La-Z-Boy Home Furnishings and Décor store is also opening at Foundry Row this weekend.
SAN ANTONIO — The Weitzman Group, representing a Florida-based investment partnership, has brokered the sale of Stonehue Shopping Center in San Antonio. The 21,004-square-foot retail center is located at 20323 Huebner Road. A local investment group was the buyer. Daniel Mitchell and Marcus Shaffer of The Weitzman Group handled negotiations. The tenant mix includes Jersey Mike’s, India Tai Palace, Guero’s Taco Diner, Austin Driving School and Pizza Hut. The Weitzman Group will continue to handle leasing of the center under the new ownership.
DALLAS — The Vitorino Group has negotiated the sale of a retail property net-leased by QuikTrip on Forest Lane in Dallas. The 4,636-square-foot property is located on three acres. QuikTrip has less than one year left on its lease. Anthony Pucciarello and Jared Aubrey of The Vitorino Group marketed the property on behalf of the seller, an out-of-state private investor. The duo also represented the buyer, an Oklahoma-based company.
LOS ANGELES — Los Angeles-based Westwood Financial Corp. has restructured ownership of 77 of its 120 retail center holdings and its management company to form a single, $1.2 billion retail real estate company. The new company, Westwood Financial, is now positioned to more easily access capital and appeal to investors with larger appetites, and has streamlined its operations. The company recently rebranded in conjunction with the restructuring, launching a new logo, signage and a new tagline: “Retail. Evolved.” A new website is currently underway, and will launch soon. Westwood will own and operate more than $1.2 billion in retail assets and will provide third-party asset management and related services for $200 million worth of properties owned by the co-founders of the firm.
MONTCLAIR, CALIF. — CBRE Group Inc. has arranged the $15.5 million sale of Montclair Shoppes, an 18,889-square-foot shopping center located in Montclair, roughly 30 miles outside of downtown Los Angeles. Ken McLeod and Tim Kuruzar of CBRE represented the seller, BOSC Realty Advisors, in the sale of the property to an undisclosed buyer based in West Los Angeles. The center is home to tenants including Sleep Number, AT&T and Tommy’s Hamburgers.
CUPERTINO, CALIF. — Marcus & Millichap has arranged the $16.5 million sale of Saich Way Station, a 15,525-square-foot shopping center located less than one mile from Apple Inc.’s headquarters in Cupertino. Kirk Trammell, Vincent Schwab, David Cutler and Joshua Johnson of Marcus & Millichap represented the seller, Borelli Investment Co. Tenny Tsai of Cushman & Wakefield represented the buyer, a family exchanging out of a redevelopment site in San Francisco. Tenants at the center include Vitamin Shoppe, T-Mobile, The Melt, H&R Block, Blast 825 Pizza, Site for Sore Eyes and the Coder School Cupertino.
ONTARIO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $6 million sale of a 6,786-square-foot retail pad site shadow-anchored by a new Walmart Supercenter in Ontario, roughly 35 miles outside of downtown Los Angeles. Eric Wohl of Hanley represented the seller, Pacific Development Group, in the transaction. James Kwon with Coldwell Banker Best Realty represented the buyer, an undisclosed private investor based in Irvine. The building was fully occupied at the time of sale by tenants including T-Mobile, Yogurtland, Waba Grill and Wells Fargo.