PHOENIX — Ace Hardware has leased 15,000 square feet at Desert Foothills Plaza in Phoenix. The plaza is located at 1323 East Chandler Blvd. in the Ahwatukee Foothills. Notable tenants at the plaza include Bank of America, Big O Tires, Chase Bank, Grease Monkey and Walgreens. Ace Hardware was represented by Brent Mallonee of Cassidy Turley’s retail group. The landlord, Foothills Plaza LLC, represented itself in this transaction.
Retail
ALPHARETTA, GA. — North American Properties (NAP) has topped off Avalon, the $600 million, mixed-use development in Alpharetta, an affluent suburb north of Atlanta. NAP has also signed 15 new retailers to the property, making Avalon’s retail component 97 percent pre-leased. The new retailers joining Avalon’s tenant roster include J. Crew, Crate & Barrel, Calypso St. Barth, Bantu, LensCrafters, BCBG, Sunglass Hut, Road Runner Sports, Soft Surroundings, J. Jill, Goldberg’s Deli, J. McLaughlin, Boston Proper, Lou & Grey and Columbia Sportswear. Avalon is set to open to the public on Oct. 30.
MONTGOMERY, ALA. — The Shopping Center Group has arranged the sale of two retail centers in Montgomery totaling $14.4 million. Atlanta-based Monarch Investments purchased both the 165,114-square-foot Promenade Montgomery and the 43,500-square-foot Promenade Montgomery North. The two assets are located approximately 1,000 feet from one another. Kathy Dennis of The Shopping Center Group represented the seller, New York-based Garrison Investment Group, in the transaction. The Shopping Center Group will continue to lease the two retail centers on behalf of Monarch Investments.
ROUND LAKE BEACH, ILL. — CBRE has arranged the lease of a 1,755-square-foot retail space for Sally Beauty Supply LLC. The professional beauty product retailer will occupy space at 272 B East Rollins Road in Round Lake Beach, which is approximately 50 miles north of Chicago. Marcy Wood of CBRE represented Sally Beauty Supply in the transaction. Allan Perales of McCaffrey Interests represented the landlord.
HOUSTON — AmREIT has leased a 7,000-square-foot outparcel at the Woodlake Square shopping center in Houston to Tex-Mex restaurant El Tiempo Cantina. A joint venture between AmREIT and AEW Capital Management acquired Woodlake Square in 2010 and completed redevelopment of the property, which is anchored by Randalls Lifestyle, in 2012. AmREIT purchased the shopping center from the joint venture in September 2013. With El Tiempo Cantina’s lease, the property is now 97.3 percent leased.
KENNER, LA. — Marcus & Millichap has brokered the $55 million sale of a 174,522-square-foot Home Depot located at 2625 Veterans Blvd. in Kenner. Bob Horvath and Todd Tremblay of Marcus & Millichap’s Boston office represented the buyer, Kleban Holdings, in the transaction. William Hoffpauir of Marcus & Millichap is the firm’s broker of record for Louisiana. Eric Carlton of Colliers International listed the property.
BALTIMORE CITY, MD. — Atlantic Realty Cos. has purchased Alameda Marketplace, a 113,000-square-foot shopping center located at 5600-5658 The Alameda in Baltimore City, for approximately $11.3 million. Atlantic Realty purchased the property from Continental Realty Corp. The asset was 95 percent leased at the time of sale to Stop Shop Save, Rite-Aid, Family Dollar, Goodwill, Bank of America, Rainbow and Rent-A-Center. Gil Neuman led The Greysteel Co. team in representing the seller and procuring the buyer.
MONTROSE, OHIO — JLL has brokered the $32.5 million sale of Market Square at Montrose, a 510,231-square-foot retail center. The property is located at 3472 Brookwall Drive in Montrose, which is approximately 28 miles south of Cleveland. Anchor stores at Market Square at Montrose include The Home Depot, JC Penney, Levin Furniture, Dick’s Sporting Goods, Regal Cinemas, Toys ‘R’ Us and Cost Plus World Market. Kris Cooper, Margaret Caldwell and Becky Wells of JLL represented the seller, LaSalle Investment Management Inc. Brooklyn-based HP REALTY LLC purchased the property.
WOODRIDGE, ILL. — Sperry Van Ness has arranged the $2.2 million sale of a 13,309-square-foot multi-tenant restaurant property in Woodridge, which is approximately 30 miles west of Chicago. The property is located at 6320 Route 53 and is comprised of two independent restaurant spaces. Tilted Kilt leases one of the spaces. The other restaurant space is vacant and available for lease. Vincent D’Amico of Sperry Van Ness represented the undisclosed seller in the transaction. The buyer was a national investor that specializes in restaurant properties.
GREENWOOD, IND. — Lee & Associates has arranged the lease of a 2,160-square-foot retail space in Greenwood, a suburb of Indianapolis. Moody Retail Shops LLC will occupy space in Village Commons I located at 862 S. State Road 135. Cathy Richards of Lee & Associates represented the tenant. Scot Courtney and Bart Jackson of Lee & Associates represented the landlord, VC-1 LLC.