OVERLAND PARK, KAN. — Charles Dunn Co. has arranged the $16.6 million sale of Metcalf 103, a regional retail center in Overland Park. Located at 10303 Metcalf Road and situated on 18.5 acres, Metcalf 103 includes 148,560 square feet of multi-tenant retail space in 12 buildings. Tenants at the center include Walmart Neighborhood Market, Pier 1 Imports, Buffalo Wild Wings and Subway. Barry Rothstein of Charles Dunn Co. represented the seller, a tenant-in-common group, as well as the buyer, a local investment company.
DARIEN, ILL. — Adelphia Properties has brokered the $3.1 million sale of Crossroads of Darien, a 14,300-square-foot retail center located at 2805-2819 W. 83rd St. in Darien, a suburb of Chicago. The asset was fully leased at the time of sale. George Spirrison and Simeon Spirrison of Adelphia Properties represented the undisclosed seller in the transaction. The buyer was a private investor based locally.
SAN DIEGO — SVN|Asset Advisory Group has arranged the sale Boulevard Plaza Shopping Center, located at 2800-2820 El Cajon Blvd. in the North Park section of San Diego. Boulevard Plaza San Diego LLC sold the 12,623-square-foot retail property to 2800 El Cajon Blvd LLC for $3.7 million. At the time of sale, the property was fully leased. Chris Rink of SVN|Asset Advisory Group represented the seller and buyer in the deal.
PALMDALE, CALIF. — Marcus & Millichap has arranged the sale of ALDI – Palmdale, a retail center located at 732 W. Rancho Vista Blvd. in Palmdale. The 17,750-square-foot, net-leased property sold for $3.5 million. Richard Vincent and Pablo Rodriguez of Marcus & Millichap represented the seller, a developer, and the buyer, a private investor, in the deal.
DUBLIN, CALIF. — Ross Stores opened 24 Ross Dress for Less and seven dd’s DISCOUNTS stores across 15 different states in June and July. These new locations are part of the company’s 2016 expansion plans to add approximately 70 Ross and 20 dd’s DISCOUNTS locations throughout the year. Ross Stores, Inc. is headquartered in Dublin, Calif., with 1,317 locations in 34 states, the District of Columbia and Guam. The company also currently operates 185 dd’s DISCOUNTS in 15 states.
LOS ANGELES — ArcWest Partners, a joint venture between Arc Capital Partners and Belay Investment Group, has acquired Chapman Plaza, a historic retail center in Los Angeles’s Koreatown, for an undisclosed sum. Originally opened in 1929 and renovated in 1990, the property is anchored by Baekjeong and Quarters, two Korean-barbeque restaurants. Ben Wagner of CBRE worked with Thorofare Capital and DoubleLine Capital to arrange for bridge acquisition and renovation financing. Jay Chu and Ryan Yatman of Secured Properties advised the buyer and seller in an off-market basis. The names of the seller and buyer were not released.
TEMPE ARIZ. — Orion Investment Real Estate has arranged the $2 million sale of Red Devil Center, an 18,170-square-foot shopping center located near Arizona State University in Tempe. Fry’s Food Store shadow-anchors the property, which was 81 percent occupied at the time of sale by tenants including H&R Block, Red Devil Italian Restaurant and Trophy Den. Derek Buescher of Orion represented the seller, John A. Teberg Trust, in the sale of the property to Norte Land Holdings LLC.
LOS ANGELES — A property occupied by fashion house Bijan has traded hands on Rodeo Drive in Los Angeles. An undisclosed investor acquired the property, located at 420 N. Rodeo Drive, in an all-cash transaction. Bijan has operated at the property for more than 40 years, and is the longest standing privately owned designer house on Rodeo Drive. Marc Schillinger, Bryan Ley and Bill Fishel of HFF represented the undisclosed seller in the transaction.
LOS ANGELES — Dunkin’ Donuts has signed a development agreement with Precision Hospitality & Development to develop eight new restaurants in Los Angeles. The first restaurant is planned to open in 2018. This agreement closes out the company’s first wave of franchise commitments since announcing the state would be open for franchise sales in January 2013. In 2014, Precision Hospitality & Development signed a store development agreement to open 10 Dunkin’ Donuts restaurants in South Orange County and surrounding cities. The group already has two restaurant locations open in Laguna Hills and Irvine, with plans to open a multi-brand restaurant with sister-brand Baskin-Robbins this fall in Foothill Ranch.
LEAWOOD, KAN. — AMC Theatres (NYSE: AMC) has entered into a definitive agreement to acquire the largest theater exhibitor in Europe, London-based Odeon & UCI Cinemas Group, from private equity firm Terra Firma. The transaction is valued at approximately £921 million, or $1.2 billion. The transaction is comprised of roughly £500 million, or roughly $665 million, for the equity, 75 percent of which is in cash; and 25 percent of which is stock consideration. The deal also includes the assumption of £407 million, or roughly $542 million, worth of net debt. The transaction is contingent upon antitrust clearance by the European Commission and is subject to consultation with the European Works. With 242 theaters and 2,236 screens, Odeon & UCI is currently the number one theater operator in Europe. The combination of AMC and Odeon & UCI will result in AMC’s operation of 627 theaters and more than 7,600 screens in eight countries, making AMC the largest movie theater operator in the world. AMC is also currently in a process to acquire Carmike Cinemas (NASDAQ: CKEC). AMC will continue to be headquartered in Leawood, and Odeon & UCI will continue to be headquartered in London, and will operate as a …