NEW BERLIN, WIS. — Fannie May Chocolates has signed a 1,398-square-foot lease at Moorland Square Shopping Center in New Berlin. Joe Kleiman of Mid-America Real Estate-Wisconsin represented Fannie May in the transaction. The property owner, Brixmor Property Group, was represented in-house by Dana Meadowcraft.
PORT WASHINGTON, N.Y. — A joint venture between Vastgood Properties and a fund managed by Prudential Real Estate Investors has acquired a portfolio of seven supermarket-anchored shopping centers for $104 million. The seller was Cedar Realty Trust Partnership. The properties total 561,000 square feet and six are anchored by Giant Food stores, with one anchored by Nell's Supermarket. The properties include: Aston Center in Aston, Pa.; Ayr Town Center in McConnellsburg, Pa.; Parkway Plaza in Mechanicsburg, Pa.; Pennsboro Commons in Pennsboro, Pa.; Scott Town Center in Bloomsburg, Pa.; Spring Meadow Shopping Center in Reading, Pa.; and Stonehedge Square in Carlisle, Pa. The properties are more than 95 percent occupied.
NEW YORK CITY — Premier Equities has acquired a retail condominium at 57-63 Greene St. in Manhattan's SoHo neighborhood for $17 million. The property is fully occupied by Cyrus Co. and Raul Carasso, two home furnishing companies, and Bang & Olufsen, the global audio systems retailer. A 53,725-square-foot loft building is located atop the retail space, which is scheduled for a condominium conversion. Peter Hauspurg, David Schechtman, Lipa Lieberman, Marion Jones and Gary Meese represented the seller, Aion Partners, in the transaction.
ST. CLAIR AND CRANBERRY TOWNSHIP, PA. — Dick's Sporting Goods is opening two news store in Pennsylvania today. The stores have opened at South Hills Village Mall, located at 301 South Hills Village Drive in Upper St. Clair, and Cranberry Crossing, located at 2021 Mackenzie Way in Cranberry Township. Additionally, a ribbon cutting ceremony will be held Friday, Oct. 19. At the Cranberry Township store, Friday's appearances will include Pittsburgh Steelers linebacker Larry Foote and University of Pittsburgh men's basketball coach Jamie Dixon. At the St. Clair store, Pittsburgh Steelers wide receiver Emmanuel Sanders and Pittsburgh Steeler Jerome Bettis will be present this Friday.
ALLEN — The owners of Jumpstreet have purchased a 62,332-square-foot retail property that was once leased to Albertsons. The property is located at 2031 W. McDermott Drive in Allen. John Zikos, Christopher Gibbons, Amy Pjetrovic-Hunnicut and Chris Booras of Venture Commercial represented the seller, Albertsons, in the transaction. The Venture Commercial brokers are representing Albertsons in the disposition of all their north Texas stores. Dallas-based Newmark Real Estate and Mike Quinlan of Denver-based Newmark Knight Frank Frederick Ross represented the buyer in the transaction.
DENVER — Cabela's, a national sporting goods and outdoor store, has purchased a 10.68-acre retail site in Denver for $3.7 million. It is located on the Southwest corner of Interstate 25 and Ridgegate Parkway. A 105,000-square-foot Cabela's is set to be constructed on the site. It is scheduled to open in spring 2013. The site is part of a 30-acre retail master-planned development.
CHULA VISTA, CALIF. — A 15,000-square-foot retail property in Chula Vista that is occupied by CVS has sold to JWCI Chula Vista, LLC for $6.7 million. It is located at 16 3rd Ave. Extension. The buyer was represented by Cushman & Wakefield. The seller, Butte Properties, was represented by Ryan Litrich of Lee & Associates’ North San Diego County office.
CHATTANOOGA, TENN. — Chattanooga-based CBL & Associates Properties Inc. will renovate and redevelop Chattanooga’s Northgate Mall. Phase I will include redevelopment of the adjacent T.J. Maxx-anchored retail center with Ross Dress For Less and Michaels as new tenants. Construction will begin in early 2013 and is scheduled for completion in fall 2013. Additionally, CBL will renovate the interior and exterior of Northgate Mall. Remodeling will include updates to the main entrance, repaving of the parking lot, and new flooring inside.
HOFFMAN ESTATES, ILL. — Leopardo has broken ground on a new, 50,000-square-foot Audi dealership in Hoffman Estates. Located at 1200 Golf Road, the dealership will be the first in Chicagoland to use the “terminal” prototype design by Munich-based architecture firm Allmann Sattler Wappner. The design combines efficiency, performance and environmental themes. When completed in June 2013, the facility will feature a 12-car showroom, service/workshop and customer service center. Dobbins Group is the architecture of record and Behles & Behles is the schematic designer. Leopardo is the construction manager.
TOMS RIVER, N.J. — Diversified Equities Corp. has acquired a triple net leased retail property at 1199 Route 37 E. in Toms River for $3.2 million. The 10,205-square-foot building is situated on 1.8 acres and is home to AAA Mid-Atlantic Car Care Center, which offers AAA member services and full-service auto repairs. Gregory Panayoti of The Goldstein Group represented the buyer in the transaction. Berkeley Capital Advisors represented the seller, HNM Toms River LLC.