BRANDON, FLA. — Publix Grocery Stores Inc. has purchased Kingsway Crossing, a 63,423-square-foot, Publix-anchored shopping center in Brandon, about 11 miles west of Tampa. Publix purchased the asset from Valrico Lake Brandon LP, a private Canadian investment entity, for $8.2 million. The shopping center, located at 1254 Kingsway Road, is 90 percent leased to tenants including Great Clips, Metro PCS and Kumon Learning Center. Mark Shellabarger and Dennis Carlson of CBRE represented the seller. CBRE handles the property management and leasing of Kingsway Crossing.
Retail
TOMS RIVER, N.J. — HFF has arranged a $20 million loan for the refinancing of Tri-City Plaza, a 108,109-square-foot retail center in Toms River. Situated on 15.97 acres at 2360 Lakewood Road, the property is fully occupied by 17 tenants, including Super Stop & Shop, Dollar Tree, Starbucks Coffee, GN and The UPS Store. HFF secured the fixed-rate loan through a life company for the borrower, Paramount Realty Services. Jon Mikula, Jim Cadranell and Samuel Seiden of HFF negotiated the refinancing, which will replace existing debt on the property.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a Dollar Tree (dba Deal$) location at 78-02 Metropolitan Ave. in the Middle Village neighborhood of Queens. The 10,240-square-foot, net-leased retail property sold for $4.6 million. Scott Plasky of Marcus & Millichap represented the seller, a New York-based retail developer, in the transaction.
LOS ANGELES — The Shops at Library Court, a 9,903-square-foot, ground-floor retail space that sits below 90 luxury loft condominiums in Los Angeles, has sold to a local private investor for $6.9 million. The space is located at 630 W. 6th Street. The center is fully occupied by tenants like Ocho Mexican Grill, Loose Leaf, Subway, Mitaki, Library Bar and Sixth Street Tavern. Eric P. Wohl of Hanley Investment Group and Carlos J. Lopez of HI Urban Retail Advisors represented both the buyer and seller, a San Francisco-based private investor, in this transaction.
FREMONT, CALIF. — Dress Barn has signed a lease for a 6,597-square-foot space in The Block at Pacific Commons Shopping Center in Fremont. The space is located at 43824 Pacific Commons Blvd., near Interstate 880. Dress Barn will join anchors Target, Costco and Century Theaters at the outdoor shopping center. The store is expected to open this fall. Dress Barn was represented by Tom Power and Ross White of SRS Real Estate Partners. The landlord, Catellus Development, was represented by Annie Jabuka of Terranomics.
POOLER, GA. — Carolina Holdings Inc. has opened Landing 405, a retail strip center located at 405 Pooler Parkway in Pooler, about 10 miles outside of Savannah. The property’s tenant roster includes Starbucks Coffee, Tijuana Flats and McAlister’s Deli. The project team includes architect McMillan Pazdan Smith, civil engineer LeCraw Engineering and general contractor Harper Corp. GrandSouth Bank provided construction financing.
HOUSTON — Baker Katz, a Houston-based commercial real estate brokerage firm, has negotiated 59,608 square feet of Mattress One leases in the Houston area during the first half of 2014. Clay Alberts of Baker Katz negotiated the leasing of 16 Mattress One locations with a number of brokers. The leases are at both freestanding structures and shopping centers. Five stores are in Houston proper, while the others are in suburbs including Nederland, League City, Spring, Port Arthur, Beaumont, Tomball, Katy and Cypress.
HUMBLE, TEXAS — HFF has brokered the sale of Atascocita Shopping Plaza, a 158,613-square-foot retail center in Humble anchored by a grocery store. HFF marketed the property on behalf of the seller, Red Tail Acquisitions. A private investor bought the building. Atascocita Shopping Plaza sits on 16.7 acres at 6900-7072 FM 1960 in Humble, less than seven miles from I-69. The property is 94.7 percent leased to tenants including Aldi, Dollar Tree, Specs and Goodwill. HFF’s sales team included senior managing director Rusty Tamlyn, managing director Ryan West and associate director Matt Berry.
LAS VEGAS – Ikea has submitted plans to open its first Las Vegas location in the Spring Valley submarket. The 351,000-square-foot outpost would be situated on 26 acres along the northern side of Interstate-215 at Durango Drive, near Sunset Road. The new store would feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area, and a 450-seat restaurant serving Swedish specialties like meatballs with lingonberries and salmon plates, as well as American dishes. The Swedish home furnishings retailer hopes to open the new store in summer 2016. The next closest Ikea locations for Las Vegas include Covina, Calif., Tempe, Ariz.; or Draper, Utah.
NEWNAN, GA. — Colliers International has arranged the $10.2 million sale of Merchant’s Crossing, a 174,059-square-foot shopping center located at 50 Bullsboro Drive in Newnan, about 39 miles southwest of Atlanta. Slate Properties Inc. purchased the Kroger-anchored shopping center from Brixmor, a REIT that owns more than 500 grocery-anchored shopping centers in the United States. Joseph Montgomery III and Tony D’Ambrosio of Colliers International represented the seller in the transaction.