HOUSTON — This September will mark the grand opening of the new Lucky Strike Lanes & Lounge at Houston Pavilions, a 700,000-square-foot mixed-use project located in downtown Houston. Lucky Strike is a boutique bowling alley that features bowling lanes with luxury amenities, a bar and lounge area and luxury food service. The 24,886-square-foot Houston location is the company’s 23rd Lucky Strike and its first in Texas. It will feature 14 lanes with premium leather couches, as well as a Luxe premium suite with four private lanes and a separate bar. It will be located at 1001 Fannin St.
Retail
HOOVER, ALA. — Lowe’s Home Improvement Warehouse has recently purchased approximately 15 acres at The Grove, a $100 million, 634,000-square-foot power center in Hoover. Located at the intersection of Interstate 459 and Alabama Highway 150, The Grove is under construction and scheduled to open this fall. Lowe’s will join fellow anchor tenants SuperTarget, Kohl’s, Petco and Shoe Carnival. Other signed tenants include Frontera Mexican Grill, dressbarn, Maurice’s, Rue 21 and American Deli.
N.C., S.C. AND GA — NRC Realty & Capital Advisors has been retained by Savannah, Ga.-based Enmark Stations Inc. to coordinate the sale of 20 of the company’s retail petroleum sites. The portfolio includes a variety of retail gasoline stations that have been operating under Enmark’s private brand, some full convenience stores, some kiosk only and some with carwashes. Of the 20-store portfolio, two are in North Carolina, eight are in Georgia and 10 are in South Carolina. All sales include the underlying properties of each site. The stores will be sold through NRC’s sealed bid process where purchasers can buy one, some or all locations.
CRYSTAL LAKE, ILL. — Rolling Meadows, Ill.-based A.G. Commercial has brokered and secured a $3.8 million loan for the ground-up construction of a Walgreens location in Crystal Lake. The 14,820-square-foot stand-alone property will be located at the corner of U.S. highways 31 and 176. Construction is slated to begin in September with completion expected by February 2010. George Arvanitis of A.G. Commercial arranged the financing on behalf of the undisclosed borrower.
AGOURA HILLS, CALIF. — Adler Realty Investments Inc. has broken ground for the construction of The Shops at Oak Creek, a 35,000-square-foot retail center that will be located on Canwood Street in Agoura Hills. The property is 83 percent pre-leased to tenants, including a national specialty retail grocer, Panda Express, Roebeks, Verizon Go-Wireless, Urban Café, San Ramon Lighting, Jinky’s Café and Fat Fish.
OSSINING, N.Y. — Urstadt Biddle Properties has secured $17.8 million in financing for the Arcadian Shopping Center in Ossining. The loan has a 10-year term with payments based on a 25-year amortization period at a fixed interest rate of 6.66 percent per annum. The mortgagee is New Alliance Bank. The Arcadian Shopping Center is a 178,000-square-foot shopping center anchored by a newly constructed 76,000-square-foot Super Stop and Shop.
UPLAND, CALIF. — Tim Sebek of Marcus & Millichap represented both undisclosed parties in the disposition and acquisition of a vacant retail property, which is located at 2419 Euclid Ave. The 38,640-square-foot property, which was formerly occupied by Albertsons, sold for $1.55 million.
WOODBRIDGE, N.J. — The Shannon Rose Irish Pub has opened its doors at St. Georges Crossing in Woodbridge. The new establishment represents the second location for the authentic Irish restaurant/pub; the original eatery is located in Clifton, N.J. Levin Management Corp. is the property’s leasing and managing agent. As part of a larger renovation, Levin converted the space, a former movie theater, for multi-tenant retail use, updated the exterior and created a new landscaping plan. The restaurant’s inviting façade features bold colors and downtown Dublin charm. Located on US 1 and 9, at the intersection of heavily traveled Route 35, and long a key regional shopping destination, St. Georges Crossing is anchored by a 91,000-square-foot ShopRite supermarket. Other tenants include P.C. Richard & Son, PETsMART, Taco Bell, Bertucci's, Wine Country, Pier 1 Imports, Golf Galaxy and GameStop.
FRISCO, TEXAS — Construction is currently under way for the expansion of Bonnie Ruth’s Café Trottoir et Patisserie, a restaurant located within The Shops at Starwood in Frisco. Bonnie Ruth’s will expand into an adjacent 2,137-square-foot vacant space. The expansion will contain additional bar seating, a private dining area for groups, a take-out area and an expanded bakery. Construction is slated for completion in September. The restaurant will add a breakfast menu to its offerings to coincide with the expansion. The Shops at Starwood is a mixed-use center located at the intersection of the Dallas North Tollway and Lebanon Road. Phase III of the project is scheduled to break ground in 2009.
MIRAMAR, FLA. — CB Richard Ellis has arranged the sale of the Shoppes at Monarch Lakes, a 64,020-square-foot shopping center in Miramar, for $8.285 million for $129.41 per square foot. Anchored by a 51,420-square-foot Publix, the center, located at 14305 Miramar Parkway, is 100 percent leased with tenants including Dunkin’ Donuts, Subway and UPS Store. The CBRE Florida National Retail Investment Group represented the Chicago-based seller, a fund advised by Prudential Real Estate Investors. Belt & Associates Inc., a related entity of DBR & Associates and Rubin Real Estate Group, represented the buyer, foreign investment group Dizengoff Real Estate.