WELLESLEY, MASS. — Burlington, Mass.-based Linear Retail Properties LLC has acquired two buildings totaling 17,900 square feet in downtown Wellesley, a western suburb of Boston. The sale, which included the adjoining 60-space parking lot, closed at a price of $17.6 million. Tenants at the buildings include CVS Pharmacy, Coldwell Banker Residential Brokerage, J.P. Licks and Vision Optics. The seller was a private family trust.
NEW YORK CITY — Foot Locker will open a 25,000-square-foot store at 605 W. 181st St. in Manhattan’s Washington Heights neighborhood. The locally based athletic footwear retailer will treat this location as a “power store” that offers experiential activities like creating customized sneakers and gaming zones. The store is slated to open this fall. New York-based Marx Realty owns the property in which the store will be housed.
SAN FRANCISCO — HFF has secured joint venture equity for the development of 1629 Market Street, a fully entitled multifamily project in San Francisco. Working on behalf of the developer, Strada Investment Group, HFF arranged a joint venture equity partnership with an affiliate of Stockbridge Capital Group for the $320 million project. 1629 Market Street will feature 420 apartments, averaging 732 square feet, and nearly 9,000 square feet of retail space situated within three mid-rise buildings that will share a sub-grade parking garage. Situated on 1.7 acres at the intersection of Van Ness Avenue and Market Street in San Francisco’s Mid-Market technology hub, the project is slated for completion in mid-2021. Scott Bales, Charles Halladay, Jordan Angel, Peter Yorck, Eric Bet and Nolan Moore of HFF represented the developer in the equity placement transaction.
KENOSHA, WIS. — The Barry Company has arranged the sale of a lot that spans about three-quarters of an acre in Kenosha. The buyer, S&L Properties Kenosha 142 LLC, plans to construct a Culver’s restaurant on the site. The lot is located at the intersection of Highway 142 and I-94 and is adjacent to Amazon’s 1.5 million-square-foot distribution campus. Kevin Barry of Barry Co. represented the undisclosed seller. Tom Treder of Founders 3 Real Estate Services represented the buyer. Culver’s is known for its burgers and frozen custards.
OREGON, OHIO — Reichle Klein Group has negotiated the $1.4 million sale of a Dollar General-occupied property in Oregon, a suburb of Toledo. Completed in October 2018, the 9,100-square-foot building is located at 2450 Woodville Road. Christian Zaciewski of Reichle Klein represented the seller, Linden Avenue LLC. Net Realty Advisors represented the buyer, California-based Frank Living Trust.
HUNTSVILLE, ALA. — Big V Property Group has acquired Westside Centre, a 655,638-square-foot shopping center in Huntsville, for $35.9 million. The property was 74 percent leased at the time of the sale to tenants including Big Lots, Stein Mart, Tuesday Morning, PetSmart, Ross Dress for Less, Shoe Carnival and Party City. Super Target shadow anchors the center. Westside Centre is situated at 6275 University Drive NW, adjacent to the 4,000-acre Cummings Research Park and six miles west of downtown Huntsville. The seller was not disclosed.
LAWRENCEVILLE, N.J. — Marcus & Millichap has arranged the sale of Princeton Plaza, a 29,600-square-foot retail center in Lawrenceville, located roughly midway between New York City and Philadelphia. The asset, which was fully occupied at the time of sale, fetched a sales price of $2.9 million. Shannon Bona led the Marcus & Millichap team in marketing the property on behalf of the seller, a private investor, with help from Mark Taylor and Derrick Dougherty of Marcus & Millichap. Brian Hosey of Marcus & Millichap acted as the broker of record. Additional terms of the sale were not disclosed.
MUSKEGON, MICH. — RD Management LLC has unveiled plans to redevelop Muskegon Shopping Center located at 3530 Henry St. in western Michigan. The project will include removal of the 134,874-square-foot building formerly occupied by Kmart, renovation of the 32,338 square feet of adjacent retail space and the construction of five residential buildings totaling 126 units. Demolition of the Kmart building will begin in late spring. In addition, Mercy Health has agreed to purchase a 6.2-acre parcel of the shopping center in order to construct a new 40,900-square-foot medical office building that will include urgent care, physical therapy, research laboratories, doctor’s offices and a pharmacy.
CHICAGO — Animal hospital operator GoodVets has opened two new full-service facilities in Chicagoland. GoodVets Southland is a 3,000-square-foot facility located at 18355 S. Halsted St. in Glenwood. GoodVets West Loop is a 4,500-square-foot facility located at 901 W. Jackson Blvd. in the West Loop neighborhood. The company had previously opened a location in the Streeterville neighborhood.
WESLEY CHAPEL, FLA. — Hutton, a real estate development and investment firm based in Chattanooga, has opened Cypress Creek Town Shopping Center, a 190,000-square-foot shopping center located in Wesley Chapel, 20 miles north of downtown Tampa. Earth Fare anchors the center, which is the latest phase of Cypress Creek Town Center. Other tenants in the new shopping center include Burlington, Hobby Lobby, Five Below, Dollar Tree and HomeGoods. Remaining tenants are scheduled to open in late spring. Chattanooga, Tenn.-based Hutton has completed three previous developments at Cypress Creek Town Center, including a 26,000-square-foot, multi-tenant development leased to retailers such as Mellow Mushroom and Men’s Wearhouse; an adjacent 8,000-square-foot Chuy’s; and a 16,000-square-foot multi-tenant building that includes Blaze Pizza, Chipotle Mexican Grill, Verizon Wireless and Sleep Number.
