HIGHLAND PARK, ILL. — Four tenants have signed new leases at Port Clinton Square, a retail center in Highland Park. Flywheel Sports, a cycle fitness center, will occupy 5,100 square feet; Edward Jones, a financial planning company, will occupy 1,244 square feet; Highland Park Chiropractic has leased 1,789 square feet; and Mathnasium, a math tutoring center, has signed a lease for 1,510 square feet. Steve Schwartz of Baum Realty Group's Chicago office represented the landlord, a private partnership, in the transaction.
FRISCO — Del Taco has purchased a 36,000-square-foot retail pad site in Hickory Center at Preston, a shopping center located on the southwest corner of Preston Road and Gary Burns Drive in Frisco, for a new Del Taco restaurant. Ken Reimer and Amy Pjetrovic-Hunnicut of Venture Commercial Real Estate's Dallas office and Joe Gampper of Dallas-based Integral Real Estate Services represented the seller, Allegiance Frisco, in the transaction. Steve Ewing of EDGE Realty Partners represented the buyer.
LAS VEGAS – The 63,759-square-foot Rainbow Sunset Pavilion Retail Center has sold to Brentwood West for $8 million. The property is located at 6315–6485 South Rainbow Blvd. CBRE’s Charles Moore, Michael Newman and Marlene Fujita represented the receiver in this transaction.
BROOMFIELD, AURORA, COLO. – The Gateway Square and Salida Shops 2 strip centers have been sold by Robert Edwards and Tom Ethington of Pinnacle Real Estate Advisors. Salida Shops 2 in Aurora is fully leased, while Gateway Square in Broomfield was 88 percent leased at the times of sale. Gateway Square sold for 100 percent of its list price, or $277 per square foot. Salida sold for $2,657,214, or $400 per square foot. Edwards and Ethington represented the sellers on these transactions.
ST. LOUIS — Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust (NYSE:RPT) has acquired Town & Country Crossing shopping center in St. Louis for $37.8 million. The 282,000-square-foot shopping center, of which 145,000 square feet is now owned by Ramco-Gershenson, is 81 percent leased and tenants include Target, Whole Foods, Sprint and PNC Bank. The Target store will remain the property of Target. Paul Hilton, Mike Hanrahan and Chase Young of Cassidy Turley represented the seller, TNC Investors, in the transaction. Ramco-Gershenson represented itself in the deal.
MILWAUKEE, WIS. —Waukesha, Wis.-based The Redmond Co. has completed construction of a new facade for a Save-A-Lot store, located at 4821 N. 76th St. in Milwaukee. According to the Redmond Co., the 80 linear foot project was designed to maximize the store's signage and create a more prominent entry way. The project included a new storefront, masonry and lighting.
BURLINGTON, VT. — City Sports, an athletic gear chain, will open a new store in Burlington next summer, marking the Boston-based brand's latest retail venture in New England and its first in the Green Mountain state. Scheduled for a June 2012 opening, the City Sports store will be located at 35 Church St., part of the Church Street Marketplace. City Sports will occupy the first-floor space of a former Borders book store. The Burlington shop will be City Sports' second store to open in the New England area in under a year, joining the Wellesley, Mass. location that opened in September 2011.
DALLAS — Marcus & Millichap has arranged the sale of a 5,850-square-foot Family Dollar store, located at 1928 E. Ledbetter Dr. in Dallas. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, a personal trust based in San Diego, Calif., and procured the buyer, a limited liability company, in the transaction.
NEW YORK CITY — Manhattan-based developer Storage Deluxe has purchased 362 Fourth Ave. in Brooklyn N.Y. for $4.1 million. The 14,420-square-foot site has a 9,525-square-foot building that is currently occupied by a dialysis center. Storage Deluxe plans to develop the site, which is situated between the Hotel Le Bleu and a retail strip center, when the dialysis center's lease expires. Louis Perfetto of Cohen and Perfetto LLP represented Storage Deluxe in the transaction. Ryan Condren, Eric Altschul, Duke McCabe and Marissa Harrison of CPEX represented the seller, a local investor.
HOUSTON — Marcus & Millichap has brokered the $2.45 million sale of a 3,578-square-foot retail facility leased to Chase Bank, located at 3209 N. Shepherd Dr. in Houston. Justin Miller of Marcus & Millichap's Houston office represented the seller, a Houston-based partnership, in the transaction. Reed Hudson of Stan Johnson Co.'s Houston office represented the buyer, a northeast U.S.-based partnership that was procured in a 1031 exchange. The property is leased to Chase Bank for 20 years.