Retail

CHICAGO — Summit Design + Build has completed work on City Winery Chicago, a winery, tasting room, restaurant and concert hall at 1200 W. Randolph St. in the West Loop. The 1200 W. Randolph building is a former food distribution warehouse built in the early part of the 20th centruy. The 33,000-square-foot property features three full-service bars, two kitchens, two private meeting rooms and an enclosed paved courtyard for outdoor dining or private parties. The project team also included Christopher Warnick Architecture and Phillip Katz Project Development.

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MOUNT OLIVE, N.J. — Colliers International has arranged the $11.2 million real estate owned (REO) sale of ITC Crossing, a 179,775-square-foot shopping center in Mount Olive. Colliers represented the undisclosed seller and the buyer, Lamar Cos. The center is anchored by a 132,023-square-foot Sam's Club. Additional tenants include Staples and Subway. The property is located approximately 35 miles from Newark, N.J.

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ENCINITAS, CALIF. — The Plaza at Encinitas Ranch has received $43 million in refinancing. The 145,303-square-foot power retail center is located at 1550-1590 Leucadia Blvd. in Encinitas. It was built in 2002 and is fully occupied by tenants like REI, Starbucks, Pei Wei, Subway and AT&T. Walmart anchors the center. The 13-year, fixed-rate loan was arranged for a joint venture between Zelman Development Company and Carltas Company by HFF’s Paul Brindley. It was secured through a life insurance company.

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GLEN BURNIE, MD. — Acadia-MCB Holding Co., a joint venture between affiliates of MCB Real Estate and Acadia Realty Trust, has purchased the 265,000-square-foot Arundel Plaza, located on Ritchie Highway in Glen Burnie, for $17.6 million. Lowe's Home Improvement and Giant anchor the center. Mike Gorsage of H&R Retail represented the seller in the transaction.

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UTICA, MICH. — Marcus & Millichap has arranged the $2.3 million sale of a 5,538-square-foot Applebee's property in Utica. The restaurant is located at 45211 Park Ave. and Applebee's has 16 years remaining on its lease. The property is situated next to a La Quinta Inn & Suites. Ray Turchi and Christopher Travis of Marcus & Millichap represented the buyer, a private investor in the transaction.

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MIDDLETOWN, OHIO — RZ Auto Parts has purchased a 7,600-square-foot industrial property situated on 3 acres at 2410 Oxford State Road in Middletown. The new location will support existing automobile-related operations at adjacent facilities and will repair and sell used auto parts. Craig Hughes of Industrial Property Brokers represented both parties in the transaction.

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DALLAS — A California investment group led by Michael Day of Embarcadero Advisors has purchased the 45,000-square-foot Spec’s Wines, Spirits & Finer Foods, located on the southeast corner of North Central Expressway and Walnut Hill Lane in Dallas. Rick Ikeler and Brad Gibbs of SRS Real Estate Partners represented the buyer in the transaction. The seller is Glenn Lake Partners LP.

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CHICAGO — Marcus & Millichap has arranged the $600,000 sale of 5434-36 North Clark St., a 6,900-square-foot retail property in Chicago. The asset is a vacant auto shop built in 1919. The lot is zoned B3-2, which provides for a variety of uses, ranging from renovation to a total redevelopment of the site. Stephen Rachman and Kyle Stengle of Marcus & Millichap represented the seller, a private investor. They also represented the buyer, a developer.

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