PLYMOUTH, WIS. — RCG Ventures Fund II has closed on its purchase of Plymouth Commons, a 162,031-square-foot shopping center 40 miles north of Milwaukee in Plymouth. The property is situated on 17 acres and anchored by Pick 'n Save and Kmart. Additional tenants include Dollar Tree, GNC and H&R Block. Kyle Matthews of Marcus & Millichap represented the buyer in the sale.
CHICAGO — The Boulder Group has arranged the $7.5 million sale of a triple-net leased Walgreens property at 2345 W. 103rd St. in Chicago. The 13,650-square-foot Walgreens was built in 2004 and the company has 17 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based partnership, in the transaction. The buyer, a West Coast-based institution, was self-represented.
NEWARK, DEL. — Cinemark plans to open a 17-screen theater at the Christiana Mall in Newark. Cinemark will join hunting, fishing and outdoor gear retailer Cabela's, which announced plans last week to open a new location at Christiana Mall. Cabela's will begin construction on a 110,000-square-foot store in 2013 with plans to open in 2014. Christiana Mall is a 1.1 million-square-foot shopping center with approximately 130 stores. General Growth Properties manages the property.
BROOKHAVEN, PA. — Katz Properties has acquired the Plaza 352 shopping center in Brookhaven for $12.3 million. The 207,000-square-foot center was built in 1972 and is located at 5005 Edgmont Ave. The property is anchored by a 59,000-square-foot Pathmark supermarket and a 102,000-square-foot Kmart. Paul Rumley of Metro Commercial Real Estate represented both parties in the transaction. Winslow Property Management will manage the center.
PARAMUS, N.J. — PGA Tour Superstore has signed a a lease for 57,000 square feet of retail space on Route 17 south in Paramus, at the former Einstein Moomjy Furniture store. The company will open its Golf and Tennis Pro Shop — the 15th national retail location for the chain — later this year. Michael Walters, Ronald Fotiu and Jill Gordon of NAI Hanson represented the property owner, Emil Buehler Trust Fund, in the transaction.
RIVER OAKS — QuikTrip is developing a new Generation III store in River Oaks. The store will employ approximately 15 to 18 people and will feature a made-to-order barista, which serves specialty coffees, ice cream and smoothies. Construction of the QuikTrip includes demolishing the Caravan Inn, which is located on the site. The River Oaks Economic Development Corp. and River Oaks City Council recently approved a $300,000 incentive package for the new store, which is slated for a March 2013 opening.
TEJON RANCH, CALIF. — Tejon Ranch Company and The Rockefeller Group have partnered to develop The Outlets at Tejon Ranch. The outlet center will be located where Interstate 5 and Highway 99 meet, just south of Bakersfield. The site’s infrastructure work has already commenced. The outlet center is scheduled to open in spring 2014. EWB Development is handling the new project’s leasing.
MILWAUKEE — Leopardo-Wisconsin has started construction on the new Tazinos Pizza and Salad Bistro in Milwaukee. Located on the first floor of the City Center at 735 N. Water St., the 4,000-square-foot restaurant will feature indoor and outdoor seating that can serve 173 patrons. Construction is scheduled for completion in October. The new location is the initial phase of Tazino's multi-phase expansion plans. The company currently owns and operates restaurants in Menomonee Falls, Oak Creek and Pleasant Prairie, Wis.
FORT WAYNE, IND. — Halloween Express has signed a lease for 12,650 square feet of retail space in Georgtown Square, located at 6404 E. State Blvd. in Fort Wayne. Al Stovall of NAI Harding Dahm represented the landlord, Georgetown Members LLC, in the transaction. Russ Jehl, also of NAI Harding Dahm, represented the tenant.
SCOTTSDALE, ARIZ. – East Thunderbird Square South, a 161,997-square-foot, grocery-anchored shopping center in Scottsdale, has sold to Holualoa Companies for $20.55 million. The square was 64 percent leased at the time of sale. Notable tenants include Smart & Final, AZ Air Time, Bridgestone Tires, Leslie’s Poolmart and Steinway Piano Showroom. The three outparcels that house M&I Bank, Burger King and Taco Bell were not part of the sale. Glenn Smigiel, Bob Young, Steven Brabant, Rick Abraham, Nancy Romanovsky, Kevin Schuck and Max Bippus of CBRE’s Phoenix office represented the seller, Gregg Williams of Trident Pacific Real Estate, the court-appointed receiver for the asset, in this transaction.