ESTERO, FLA. — Marcus & Millichap has brokered the $2.4 million sale of a 4,500 square-foot Verizon Wireless store located at 23200 Via Villagio in Estero. Preet Sabharwal and Britt Raymond of Marcus & Millichap’s Manhattan office represented the seller, a developer. Gabriel Britti and Ronnie Issenberg of Marcus & Millichap’s Miami office secured and represented the buyer, a limited liability company. Kirk Felici of Marcus & Millichap’s Miami office assisted in closing the transaction.
SPOUT SPRINGS, N.C. — Quantum Real Estate Advisors has brokered the sale of a 6,895-square-foot Advance Auto Parts store located in Spout Springs. The store is a build-to-suit for Advance Auto Parts, which has 15 years remaining of its initial lease term at the time of sale. Jordan Kaufman of Quantum Real Estate Advisors represented the seller, a North Carolina-based developer, in the transaction. The buyer is based in South Carolina and purchased the facility in an all-cash transaction.
INDIANAPOLIS — Marcus & Millichap has arranged the $1.2 million sale of a 4,775-square-foot retail center in Indianapolis. Preet Sabharwal, Britt Raymond and Jordan Klink of Marcus & Millichap marketed the property on behalf of the seller, a Connecticut-based developer, and represented the buyer, a New York-based private investor. GNC and T-Mobile occupy the property and have less than two years remaining on their leases. The property is located at 4557 N. Lafayette Road and is an outparcel to a Walmart Supercenter.
LOS ANGELES — Bottega Louie has signed a new 15-year lease in Downtown Los Angeles that will allow the gourmet restaurant, market and patisserie to expand its operations. The restaurant’s new location is 617 West 7th Street. The new space will accommodate a pastry kitchen, test kitchen and chocolate confectionary kitchen, as well as training facilities, conference rooms, design studios and corporate offices. Bottega Louie was represented by Adam Tischer of Colliers International. The landlord, The Swig Company, was represented by CBRE’s John Zanetos, Mark O’Brien and Christopher Penrose, Jr.
LAWRENCEVILLE, GA. AND CORDOVA, TENN. — Franklin Street Real Estate Services has arranged the sale of two Red Robin restaurants for $3.8 million. One restaurant is a 6,350-square-foot location at 1250 Scenic Highway in Lawrenceville, part of the Atlanta metro area. The other is a 6,381-square-foot restaurant located at 1231 N. Germantown Parkway in Cordova, part of the Memphis metro area. Mac McCall and Bryan Belk of Franklin Street represented the seller for both properties, a Memphis-based real estate investment company. The buyers are private investors based in La Verne, Calif., and Oklahoma City. Both buyers plan on holding the properties long-term, according to Franklin Street.
THE WOODLANDS, TEXAS — The Howard Hughes Corporation (NYSE: HHC) has signed Front Burner Restaurants to an 8,000-square-foot lease for a new location of Whiskey Cake Kitchen & Bar at Hughes Landing in The Woodlands. This first Houston location of the “farm-to-fork, garden-to-glass” eatery is scheduled to open in early 2015 and is the second restaurant to sign a lease at Hughes Landing, a 66-acre mixed-use development of HHC subsidiary The Woodlands Development Company. Jack Breard and Michael Miller of United Commercial Realty represented Front Burner in the negotiations, while Rip Reynolds of HHC represented Woodlands Development.
SAN FRANCISCO – Jamestown has purchased the famous Ghirardelli Square, a 100,394-square-foot lifestyle and entertainment-oriented retail complex in San Francisco. It sold for a reported $56 million. The 12-building complex is located at 900 North Point Street in Fisherman’s Wharf. The retail portion was 55 percent leased at the time of sale. Tenants include the Ghirardelli Square Chocolate Company’s U.S. flagship location, as well as Vom Fass, Jackson & Polk, Gigi & Rose, Wattle Creek Winery, Kara’s Cupcakes and McCormick & Schmick’s. Jamestown plans to execute a multi-million dollar renovation program over the next two years to stabilize the asset and attract new retail concepts and amenities. Ghirardelli’s original structures were built over a span of 100 years, which began in 1864. The complex underwent a retrofitting and significant updates between 1966 and 2009. The seller,a major financial institution,was represented by HFF’s Nicholas Bicardo and Mark Damiani.
ORLAND PARK, ILL. — Marcus & Millichap has arranged the $1.8 million sale of Fountain Square Village, a 12,085-square-foot retail property located in Orland Park, a southern suburb of Chicago. Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a private investor. Ryan Engle, a multifamily specialist at Marcus & Millichap, represented the buyer, an individual/personal trust. Fountain Square Village is located at 11013-11045 179th St.
CHICAGO — Exit Plan Holdings LLC has purchased a 7,000-square-foot retail building located at 5025 N. Clark St. in the Andersonville neighborhood of Chicago from a private seller. The new owners, who own Crew Bar & Grill and The SoFo Tap, plan to renovate the building to include a new façade and replace the rear of the structure. A Mexican restaurant will move into the remodeled space next year. Most recently, the property was occupied by T’s Bar and Restaurant, which closed in March. Rebecca Lundstrom, senior consultant for @properties Commercial, represented the buyer in the transaction.
SAN FRANCISCO – Jamestown has purchased the famous Ghirardelli Square, a 100,394-square-foot lifestyle and entertainment-oriented retail complex in San Francisco. It sold for a reported $56 million. The 12-building complex is located at 900 North Point Street in Fisherman’s Wharf. The retail portion was 55 percent leased at the time of sale. Tenants include the Ghirardelli Square Chocolate Company’s U.S. flagship location, as well as Vom Fass, Jackson & Polk, Gigi & Rose, Wattle Creek Winery, Kara’s Cupcakes and McCormick & Schmick’s. Jamestown plans to execute a multi-million dollar renovation program over the next two years to stabilize the asset and attract new retail concepts and amenities. Ghirardelli’s original structures were built over a span of 100 years, which began in 1864. The complex underwent a retrofitting and significant updates between 1966 and 2009. The seller,a major financial institution,was represented by HFF’s Nicholas Bicardo and Mark Damiani.