NAPERVILLE, ILL. — Procter & Gamble's Tide Dry Cleaners will open a new drive-thru facility in the Chicagoland area. Tide will occupy a newly built 3,000-square-foot building in Naperville Commons at 95th and 59th St. in Napperville. Tide plans to open this summer. Jaime Platt of Mid-America represented the landlord in the transaction. Allen Joffe of Baum Realty represented the tenant.
LAKE GROVE, N.Y. — Shopping center developer Regency Centers has closed on its $72.5 million purchase of the 141,382-square-foot Lake Grove Commons in Lake Grove, with its co-investment partner First Washington Realty Inc. Lake Grove, a Class A property, is anchored by Whole Foods. Jeffrey Dunne and David Gavin of CBRE represented the seller, Lake Grove Enterprises LLC in the transaction.
THE WOODLANDS — Michel Kors will open a 2,659-square-foot store at Market Street — The Woodlands, an approximately 500,000-square-foot open air shopping and entertainment center that features merchants Tiffany & Co., Brooks Brothers, Allen Edmonds, Ann Taylor and L'Occitane, as well as the 70-room AVIA hotel and 17 restaurants. Market Street is located at 9595 Six Pines Dr. in The Woodlands and is owned by a joint venture between Trademark Property Co. and Institutional Mall Investors.
DALLAS AND FORT WORTH — Rick's Cabaret International through RCI Holdings, its subsidiary, has purchased two tracts of land currently housing adult nightclubs, located at 12325 Calloway Cemetery Rd. in Fort Worth and 2151 Manana Dr. in Dallas, for $5.5 million. Rick's Cabaret paid $2 million in cash and the other $3.5 million is being financed by the seller.
SAN ANTONIO — Austin-based Linsalata Realty Services has brokered the sale of a 6,427-square-foot shopping center, located at 6620 FM 78 in San Antonio. The property is fully leased to three tenants. Joe Linsalata of Linsalata Realty Services represented the buyer, Kim and Peter Tran, in the transaction. Dick McCaleb of San Antonio-based RFM Commercial represented the seller. Bruce Graham of Chase Bank of Austin was the loan officer for the acquisition financing.
ORANGE CITY, FLA. — A 20,000-square-foot Office Depot, located on Saxon Boulevard in Orange City, has been sold for $3.15 million. Daryl Carter of Orlando, Fla.-based Maury L. Carter & Associates, along with William Snow, II, of SRS Real Estate Parters' Orlando office, represented Saxon/Broward Ltd., the seller, in the transaction. Mark Thiel of Marcus & Millichap's San Diego office represented the buyer.
JERICHO, N.Y. — Airport Plazas, a specialized developer and operator of airport retail plazas, has signed a 25-year lease to redevelop about six acres of property at the entrance of JFK Airport. The project includes a 20,000-square-foot retail building, about 200 parking spaces and a fueling center. The $11 million project is scheduled to be completed this September.
NEW YORK CITY — A 630,000-square-foot enclosed fashion mall will break ground in the Bronx this spring, with the opening slated for late 2013 or early 2014. Prestige Properties plans to develop a three-level, $270 million mall located on an empty parcel at the Bay Plaza Shopping Center. The development will be anchored by Macy's, which is slated to occupy 160,000 square feet. The mall will also be physically connected to an existing JC Penney store at the Bay Plaza Shopping Center.
HOUSTON — Marcus & Millichap has brokered the sale of the 10,300-square-foot North Main Shopping Center, located at 2124 N. Main St. in Houston. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction.
TEMPE, ARIZ. – The retail portion of the three-building Crossroads of Tempe development has sold to a single-asset entity of Westwood Financial Corp. for $1.3 million. The sellers, a joint venture between ViaWest Group and Southwest Value Partners, originally purchased the three assets in July 2011 for $4,055,000. The just-sold retail portion contains a 15,460-square-foot retail center located at 7707 S. Kyrene Road. It was built in 2006 and is currently 54 percent leased. The center also contains two adjacent Class A office buildings totaling 96,600 square feet. The joint venture was represented by Grubb & Ellis in this sale.