TORRANCE, CALIF. — Grocery chain Fresh & Easy is relocating its executive and administrative hub from El Segundo to nearby Torrance. The hub will be located at 20101 Hamilton Place. NGKF’s David Kluth and Joel Smith negotiated the lease.
WEATHERFORD, TEXAS — Fort Worth-based design-build general contractor Speed Fab-Crete has broken ground on a 60,000-square-foot auto dealership for Roger Williams, the only new car dealer in Weatherford. Slated for completion in April 2016, the new Roger Williams Chrysler, Dodge, Jeep and Ram dealership will be located at 1102 Washington Drive along I-20 and will replace the existing Roger Williams Auto Mall. The dealership’s exterior will be built using precast concrete walls, cast stone, metal accents and floor-to-ceiling panoramic glass. Interior amenities will include a customer lounge, open office spaces, display areas, 25 service bays, car wash facility and parts sector. The new dealership is the largest project included in the company-wide upgrade of Roger Williams’ auto facilities in Weatherford, all of which are being built by Speed Fab-Crete and designed by Callahan & Freeman Architects. Business operations will remain open during the construction process. In addition to Speed Fab-Crete and Callahan & Freeman Architects, the Roger Williams expansion project team includes Fort Worth-based Callahan Structural Engineering Inc. as the structural engineer and Lillian, Texas-based Hulsey Engineering as the mechanical, plumbing and electrical (MEP) engineer.
NEW YORK CITY — SL Green Realty Corp. has inked a 10-year lease with Adidas to occupy retail space at its 115 Spring St. property in Manhattan. The two-level, 5,218-square-foot space will be the new home of Adidas’s Originals boutique. SL Green acquired the retail property in 2014. Jeremy Ezra of RKF represented the tenant, while Ariel Schuster and Ross Berkowitz, also of RKF, represented the landlord in the transaction.
ATLANTA — Charlotte-based FCA Partners has purchased Parkway Pointe, a 196,664-square-foot retail center located in Atlanta’s Cumberland Galleria submarket, for $43.9 million. Anchored by a 15-screen AMC Theatres, the center is located at the northeast corner of Cobb Parkway and Cumberland Boulevard, a couple blocks from I-75 and roughly one mile from the future SunTrust Park, the Atlanta Braves’ new ballpark opening in April 2017. The center was approximately 85 percent leased at the time of sale to tenants such as Main Event Entertainment, Taco Mac, Copeland’s of New Orleans, Pier 1 Imports and Roam. Eastdil Secured represented the seller, Stockbridge Capital Group, in the transaction.
HIALEAH, FLA. — CREC has brokered the $23.1 million sale of El Mercado Shopping Center, a 96,000-square-foot property located at 2400 W. 60th St. in Hialeah in Miami-Dade County. The shopping center was 99 percent leased at the time of sale to tenants such as Publix, Rent-a-Center, Payless Shoes, GNC, Little Caesars Pizza, Pollo Tropical, La Colonia Medical Center, Mary’s Dollar Store and SunTrust Bank. Warren Weiser, Harry Blyden and Andrew Remick of CREC represented the seller, El Mercado Associates Ltd., in the transaction. The buyer is Stockbridge El Mercado LLC, an affiliate of Stockbridge Capital Group.
MILL VALLEY, CALIF. — JLL has agreed to acquire Shelter Bay Retail Group, a retail property management firm based in Mill Valley, for an undisclosed sum. Shelter Bay manages 74 urban and suburban, open-air shopping centers throughout the San Francisco Bay Area, San Jose/South Bay, central and southern California and Arizona. The acquisition is expected to close later this month, subject to customary closing conditions. The properties’ management teams will remain intact to ensure a seamless transition when the deal closes. Shelter Bay’s team of 30 experts will join JLL at closing. Stephen Robertson, chairman of Shelter Bay, will join JLL as director of retail business development, West Coast, while Sondra Van Metre, president and CEO, will join as director of retail property management, West Coast. The two will lead the combined organization’s West Coast retail property management operations.
COLUMBUS, OHIO — The Boulder Group has brokered the sale of a single-tenant net leased Walgreens property located at 4755 W. Broad St. in Columbus for $7.7 million. The 14,820-square-foot property was constructed in 2009 and is located on two acres. The triple-net lease expires in February 2034. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership, in the transaction. The buyer was a real estate investment and property management company based in Ohio.
LAKEVILLE, MINN. — Mid-America Real Estate Corp. has brokered the sale of the Heritage Commons shopping center in Lakeville, 27 miles south of Minneapolis, for an undisclosed price. The buyer was Austin, Texas-based Epic Real Estate Partners. A Cub Foods anchors the 138,690-square-foot retail center. Other tenants include Subway, Papa Murphy’s, Great Clips and American Dental. Joe Girardi and Mark Robinson of Mid-America Real Estate were the exclusive brokers in the transaction on behalf of the seller, Sentinel Management Co. based in Edina, Minn.
OVERLAND PARK, KAN. — Starbucks is planning to open a new location in Overland Park late this year or early 2016. The coffeehouse chain signed a lease to occupy 2,186 square feet in a freestanding building located at 135th Street and Quivira Road. The building is situated at the main entrance to a Price Chopper grocery-anchored shopping center and across the street from The Fieldhouse of Kansas City indoor sports facility. Max Kosoglad of Block & Co. negotiated the purchase of the property on behalf of the undisclosed buyer and the subsequent long-term lease with Starbucks on behalf of the landlord.
SACHSE AND SAN ANTONIO, TEXAS — Venture Commercial Real Estate has represented Fitness International LLC in deals for two new LA Fitness clubs in Sachse and San Antonio. Venture’s John Zikos, Jonathan Cooper and Cheryl Hill represented LA Fitness in both deals, working with Walt Brown Jr. and Tim Dollander of Diversified Partners, master brokers for LA Fitness in the Southern United States. In north Texas, LA Fitness has signed a lease and will soon begin construction on a 37,000-square-foot facility that will anchor the Woodbridge Gate development located on the southwest corner of Highway 78 and Woodbridge Parkway in Sachse. David Watson of Direct Property Services Inc. represented the landlord. The Sachse club is expected to open in early 2016. In central Texas, LA Fitness has acquired a five-acre tract of land and has begun construction on a prototype facility in the newest phase of the Potranco Village development, located on the northeast corner of Potranco Road and Loop 1604 in San Antonio. Wade McGinnis represented the seller, Barshop & Oles Co. The Potranco Village club is expected to open in late 2015. Founded in 1984, LA Fitness has more than 650 locations in the U.S. and Canada.