LONGVIEW, TEXAS — Fort Worth-based developer The Woodmont Co. has broken ground on a 1,400-square-foot retail project for Starbucks in Longview, located about 120 miles east of Dallas. The new coffee shop will be situated at the site of a former gas station and will be devoid of any indoor dining space. Shell construction of the building is scheduled to be complete in June.
LIVINGSTON, N.J. — Azarian Realty Co. has signed two new tenants to leases at Livingston Town Center, a 65,000-square-foot shopping center in Northern New Jersey. Spa concept Bleu Mirage Aesthetics has leased 1,886 square feet, and food and beverage user Mango Mango Dessert has leased 1,323 square feet. Kevin Pelio of Azarian Realty represented both parties in the first set of lease negotiations. Pelio and James Azarian represented both sides in the second deal.
ST. CHARLES, MO. — Hot Box Cookies has opened at Streets of St. Charles in suburban St. Louis. The store at 650 Beale St. is the sixth metro St. Louis location for Hot Box Cookies, which specializes in freshly made cookies in a dozen flavors. Customers can take home a box or have it delivered. Hot Box also offers ice cream sandwiches, cookie cakes and catering services. Owned and managed by Cullinan Properties Ltd., Streets of St. Charles is a 27-acre mixed-use development featuring retail, dining, entertainment, hospitality, multifamily and office space.
LEWISVILLE, TEXAS — Bright Realty has added 11 new retail and restaurant users at The Realm at Castle Hills, the locally based developer’s 324-acre mixed-use destination in the northern Dallas suburb of Lewisville. Food and beverage concepts include Saray Mediterranean Fusion Grill & Bar, Salubrious Juice & More, donut eatery Mochinut, smoothie bar Bahama Bucks, breakfast concept Food Morning and Japanese restaurant Luster Grill. The roster now also features three salons — Cool Heads, Salon Bellus and Cachet Salons & Spa — as well as fitness concept Hotworx and Castle Hills Animal Hospital.
FRENCH VALLEY, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has secured $39.4 million in construction financing for French Valley Marketplace, a grocery-anchored shopping center development in French Valley. The nonrecourse loan will provide funds to complete the horizontal and vertical construction of the project. A partnership between Texas-based Trinity Investors and Pasadena-based Halftery Development Co. are leading the fully entitled, 22-acre project. Current tenants include Grocery Outlet, Rite Aid, EoS Fitness, McDonald’s, AutoZone and 7-Eleven. Brandon Wilhite of MMCC and Sunny Sajnani and Todd McNeill of Institutional Property Advisors, a division of Marcus & Millichap, arranged the financing. The origination team is based out of MMCC’s Dallas office. Trez Capital operated as the lender for the transaction.
PHOENIX — Thompson Thrift has purchased a 30-acre development site at the southwest corner of Dove Valley and 29th Avenue in Phoenix. Terms of the transaction were not disclosed. The company plans to develop a mixed-use property on 16 acres of the site. The remaining acreage will be left as outdoor space that is part of Skunk Creek Wash natural preserve, and will feature pedestrian amenities and running paths. Upon completion, the development will feature apartments and 35,000 square feet of retail. Oregano’s, a local pizza chain, and Twisted Sugar, a gourmet cookie shop, have pre-leased space at the development.
FRISCO, TEXAS — A development partnership has unveiled plans for Fields West, a $2 billion mixed-use project in Frisco, a northern suburb of Dallas. The 180-acre project will be situated along the Dallas North Tollway within Fields, a 2,500-acre master-planned development that houses PGA of America’s new headquarters. The development partnership for Fields West comprises Hunt Realty Investments, Karahan Cos., Chief Partners LP, CrossTie Capital Ltd. and the heirs of Bert Fields Jr., the original landowner and namesake of the development. Dallas-based Hunt Realty purchased the site, then known as Headquarters Ranch, from the Fields estate back in 2015. While individual components for Fields West weren’t disclosed, the developers did sign an agreement with Marriott International to bring a new Ritz-Carlton hotel to anchor the development. The size and room count for the new hotel were not announced. The Dallas Morning News reports that Fields West will ultimately feature three hotels and offices totaling a combined 4 million square feet. The outlet also reported the property will feature shopping, dining and entertainment uses, as well as 2,800 apartments. Project architect Gensler announced that Fields West will be “three times” the size of Legacy West Urban Village, a retail project within …
COMMERCE CITY, COLO. — Blue West Capital has arranged the $3.4 million sale of a single-tenant retail property in Commerce City, approximately six miles northeast of downtown Denver. Brandon Gayeski and Robert Edwards of Blue West Capital represented the seller, a Colorado-based partnership. The buyer was a 1031 exchange investor based in Colorado. The 2,340-square-foot property features a drive-thru and was constructed in 2020. Located at 4860 East 60th Ave., Starbucks Coffee occupies the property on a long-term lease.
PHOENIX — A joint venture between Medistar Corp., GMH Communities and CBRE Investment Management has broken ground on Central Station, a 1 million-square-foot mixed-use development in downtown Phoenix. Situated adjacent to Civic Space Park and Arizona State University’s Downtown Phoenix Campus, Central Station will feature two residential towers, 30,000 square feet of retail space, 70,000 square feet of creative office space and two levels of below-ground parking with 430 spaces. One tower, a 22-story student housing building, will be fully furnished and comprise 655 beds ranging from micro studios to four-bedroom units catering to undergraduate and graduate students, as well as young professionals. The apartments will feature smart technology, amenities and service designed to meet the needs of urban residents. The second building, a 33-story residential tower, will include 362 units with smart-tech amenities. All residents will have access to an outdoor amenity deck that includes barbecue grills, fire pits and a resort-style pool. Central Station is slated to open in late 2024. The project is a public-private partnership with the City of Phoenix retaining ownership of the land and the development partners entering into a long-term lease for the project. Gould Evans designed the project and Layton Construction will …
ST. LOUIS — Marcus & Millichap has negotiated the sale of a Chipotle-occupied retail property in St. Louis for $3.1 million. The 2,415-square-foot building, located at 3547 Hampton Ave., features a “Chipotlane” drive-thru. Chipotle opened for business at the location in 2020. Brennan Clegg, Chris Lind and Mark Ruble of Marcus & Millichap represented the seller, a limited liability company. The buyer was not disclosed.