HOMER GLEN, ILL. — Marcus & Millichap has arranged the $3.1 million sale of Chili's, a 5,557-square-foot net-leased property located in Homer Glen. The restaurant, located at 14205 S. Bell Road, is a 20-year, absolute net-lease property that includes four, five-year option periods with 1.5 percent annual rental increases throughout the lease. ERJ Dining guarantees the lease.Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private investor. Sharko and Weisenbeck also represented the buyer, also a private investor.
Retail
COLUMBUS, OHIO — The Gilbert Group Inc. has been selected by a California-based owner to provide property management and project leasing services for the Georgesville Center, a shopping center in Columbus. Located at 1355-1397 Georgesville Road, the property consists of two retail buildings totaling approximately 26,390 square feet of space. The center is visible from I-270 and is shadow anchored by a Walmart Supercenter. Tenants at the center include Starbucks Coffee, Jimmy Johns Subs, Davita Dialysis and Verizon Wireless. There are currently four spaces available at the center, which range from 1,365 square feet to 5,506 square feet.
MEDFORD, MASS. — Lexington, Mass.-based Bierbrier Development has completed the $22.8 million refinancing of Wellington Circle Plaza in Medford. Located at the junctions of Routes 16 and 28, the property is a 55,000-square-foot shopping center with national tenants, including CVS/pharmacy, Men’s Wearhouse, LenCrafters and Chipotle. The borrower purchased the property in 1985. Matthew Kirsch at Bank of America provided the 10-year financing. Brian Cororan and Lee Norman of Ackman-Ziff represented Bierbrier in the transaction.
FLOWER MOUND, TEXAS — Moviehouse & Eatery is coming to Lakeside DFW, Realty Capital Management LLC’s master-planned, mixed-use community in the Dallas/Fort Worth suburb of Flower Mound. Construction is underway on a new 45,000-square-foot facility that will feature eight auditoriums, a chef-prepared menu, professional wait staff and bar/lounge area. Moviehouse & Eatery, which is based in Austin, owns and is developing the property under Realty Capital Management’s master plan guidelines. The general contractor on the project is Blalock Building Co. At full build-out, the 150-acre Lakeside DFW will include 2,200 multifamily units and 705,000 square feet of commercial space.
GRAHAM, TEXAS — Marcus & Millichap has brokered the sale of First Texas Plaza, a 9,500-square-foot retail property in Graham, a city located about 40 miles southeast of Lubbock. Constructed in 2008, the strip shopping center is located on one acre at 2110 Highway 16 South. The facility is fully leased to Hibbett Sports, AT&T, The Cash Store and Graham Nail & Spa. All of the tenants lease their respective spaces on a triple-net basis. Philip Levy and Chris Gainey of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Levy and Gainey also secured the buyer, a private investor.
MESA, ARIZ. — Village Square at Dana Park, an urban lifestyle center in Mesa, has added three new tenants to its roster. Pita Jungle recently opened a new 3,600-square-foot space; Soma Intimates has occupied 2,200 square feet; and Thinique has debuted a new 2,300-square-foot studio at the center. The three leases total more than 8,000 square feet. Village Square is owned by Whitestone REIT.
AIKEN, S.C. — JLL has arranged the $28.9 million sale of Hitchcock Plaza, a 252,097-square-foot shopping center in Aiken. Inland Real Estate Group purchased the asset from Hendon Properties. The shopping center’s tenant roster includes Ross Dress for Less, T.J. Maxx, Bed Bath & Beyond, Old Navy and Academy Sports + Outdoors. Margaret Caldwell and Kris Cooper of JLL represented Hendon Properties in the transaction.
SANDY SPRINGS AND CONYERS, GA. — HFF has arranged the $25.8 million sale of The Village at Millers Chapel and Trowbridge Crossing in metro Atlanta. The two Publix-anchored shopping centers total approximately 137,000 square feet combined. BIG Shopping Centers purchased both assets from Atlanta-based Columbia Properties Inc. Richard Reid and Jim Hamilton of HFF led the sales team in representing Columbia Properties in the transaction. HFF also arranged acquisition financing through Lincoln Financial Group for the The Village at Millers Chapel purchase. The Village at Millers Chapel at 2159 GA Highway 20 in Conyers was built in 2012 and is currently 98 percent leased to tenants including Publix and Kauffman Tire. Trowbridge Crossing at 7507 Roswell Road in Sandy Springs was renovated in 2013 and is 96.4 percent leased to Publix and the US Post Office.
SNELLVILLE, GA. — Shane Investment Property Group has brokered the $4.6 million sale of Scenic Square, a 70,060-square-foot shopping center in Snellville, a suburb of Atlanta. The center is 87 percent leased and is anchored by Michael’s, which recently signed a 10-year lease renewal. Elliott Kyle of Shane Investment Property Group represented the buyer, Adams Scenic Square LLC, in the transaction. Dan Cooper of Cooper Commercial Investment Group represented the seller, Cincinnati-based Viking Partners. Sam Perlman of Adams & Co. Real Estate will handle the leasing for Scenic Square going forward.
CARMEL, IND. — Lee & Associates has arranged a lease of a 2,430-square-foot retail space for Huntington National Bank N.A. The space is in the Providence at Old Meridian building, located at 12505 Old Meridian St. Scot Courtney and Bart Jackson of Lee & Associates represented the tenant. Gary Perel of Newmark Knight Frank Halakar represented the landlord, Providence HUD LLC.