SAN ANTONIO — World Class Capital Group LLC has acquired Culebra Crossing, a 141,000-square-foot retail center in northwest San Antonio. The property, located on Culebra Road two miles north of Loop 410, was 93 percent occupied at the time of the sale. Anchors of the center include WellMed and Family Dollar. World Class Capital also acquired the site’s vacant pad sites as part of the purchase.
Retail
GARLAND, TEXAS — The Retail Connection has arranged a lease of 51,796 square feet for Fitness Connection at Shiloh Square, a shopping center in the northeast Dallas suburb of Garland. Located at 2334 W. Buckingham Road, the property is in proximity to the Bush Turnpike, Highway 75, Interstate 635 and Interstate 30. Sherman Hinkebein and Wyatt Russo of The Retail Connection, along with Bob Ginsberg and Amy Nott of CBRE, represented the tenant, a gym. AVG Partners is the landlord.
YAKIMA, WASH. — Valley Mall and Valley Mall Plaza in Yakima have received $42 million in financing. The regional mall and adjacent retail power center are located in the Yakima Valley in the south central part of the state. They contain a total of 679,845 square feet. The two centers are 94 percent leased to tenants like Macy’s, Sears, Kohl’s, T.J. Maxx, Ross Dress for Less, Bed Bath & Beyond, Michael’s, Ulta and Old Navy. The seven-year, full-term, interest-only loan was arranged by HFF’s Eric Tupler, Paul Brindley, Tom Wilson, Kristian Lichtenfels and Erica Christensen. The borrower, CenterCal Properties, used the proceeds to refinance the property’s maturing debt.
CORNELIUS, N.C. — Antiquity, a master-planned community located 20 miles north of Charlotte in downtown Cornelius, will develop a new 53,000-square-foot Harris Teeter grocery store with a drive-thru pharmacy. Cam Finley of Venture Properties, developer of Antiquity, expects to break ground on Harris Teeter in April 2014 and deliver it in the first quarter of 2015. Will Whitely and Paula Sanders of New South Properties are the exclusive leasing agent for Antiquity.
YAKIMA, WASH. — Valley Mall and Valley Mall Plaza in Yakima have received $42 million in financing. The regional mall and adjacent retail power center are located in the Yakima Valley in the south central part of the state. They contain a total of 679,845 square feet. The two centers are 94 percent leased to tenants like Macy’s, Sears, Kohl’s, T.J. Maxx, Ross Dress for Less, Bed Bath & Beyond, Michael’s, Ulta and Old Navy. The seven-year, full-term, interest-only loan was arranged by HFF’s Eric Tupler, Paul Brindley, Tom Wilson, Kristian Lichtenfels and Erica Christensen. The borrower, CenterCal Properties, used the proceeds to refinance the property’s maturing debt.
TEXAS AND OKLAHOMA — Tilted Kilt Franchise Operating LLC and Kilt Management LLC, both based in Tempe, Ariz., will develop 15 new Tilted Kilt pubs in Texas and Oklahoma during the next five years, including five locations in the Dallas/Fort Worth Metroplex. New locations in nearby Frisco and Las Colinas are already operating. The development marks the brand’s entry into the Sooner State, though a specific location has yet to be announced. Kilt Management is acting as developer of the new properties and will also oversee operations and management.
SAN JOSE, CALIF. – The Italian restaurant Tomatina has signed a 3,265-square-foot lease at West Valley Shopping Center in San Jose. The restaurant concept was created in 1998 by celebrity chef Michael Chiarello, who was appeared on the Food Network. It was acquired by Syufy Enterprises in 2011. This will be Tomatina’s second South Bay location once it’s completed early next spring. Syufy plans to open up to 12 Bay Area locations in the next 18 months. The restaurant was represented by Nick Schmidter and Josh Amoroso of Lockehouse Retail Group. West Valley Shopping Center is anchored by Sprouts Farmers Market and BevMo.
ST. LOUIS — IKEA, an international home furnishings retailer, has submitted plans to the City of St. Louis for a store that would increase the Swedish retailer’s presence in the Midwest. Slated to open in 2015, the 380,000-square-foot proposed IKEA store would be built along the northern side of I-64 near the Vandeventer Avenue exit. The store would also feature approximately 1,250 parking spaces. Currently, the closest IKEA stores are located in Bolingbrook and Schaumburg, Ill. A Kansas City-area store is currently under construction and on track to open in fall 2014.
HARKER HEIGHTS, TEXAS — HFF has arranged the sale of and acquisition financing for Market Heights, a 412,645-square-foot retail power center in Harker Heights, a suburb of Killeen. The property, which was completed in 2007, is anchored by Ross Dress for Less, Dick’s Sporting Goods, Bed Bath & Beyond, Barnes & Noble, Cinemark, Old Navy, ULTA and Petco. Market Heights is shadow-anchored by Target. Located at 201 E. Central Expressway, the asset offers proximity to State Highway 190, as well as the nearby cities of Fort Hood and Temple. HFF both represented the seller, Direct Development, and secured the buyer, Cole Credit Property Trust IV. Kevin MacKenzie and Adam Herrin of HFF led the team that arranged the acquisition financing through Bank of America Merrill Lynch.
SAN JOSE, CALIF. – The Italian restaurant Tomatina has signed a 3,265-square-foot lease at West Valley Shopping Center in San Jose. The restaurant concept was created in 1998 by celebrity chef Michael Chiarello, who was appeared on the Food Network. It was acquired by Syufy Enterprises in 2011. This will be Tomatina’s second South Bay location once it’s completed early next spring. Syufy plans to open up to 12 Bay Area locations in the next 18 months. The restaurant was represented by Nick Schmidter and Josh Amoroso of Lockehouse Retail Group. West Valley Shopping Center is anchored by Sprouts Farmers Market and BevMo.