AVON, OHIO — Luttner Real Estate Investments Services has arranged the $1.07 million sale of an Arby's ground lease in Avon. The property has 17.5 years remaining on the initial 20-year lease. Mark Luttner of Luttner's Chicago office represented the seller, The Richard E. Jacobs Group, and procured the buyer, a California-based private 1031 investor.
Retail
BEDFORD PARK, ILL. — Taphandles has signed a lease for a 52,344-square-foot industrial building, located at 742- S. Meade Ave. in Bedford Park. Brian Vanosky of Lee & Associates' Chicago office represented the landlord, Cobalt Capital Partners, and Mike Mangan of CB Richard Ellis' Chicago office represented the tenant in the transaction.
ATTLEBORO, MASS. — Boston-based EagleBridge Capital has arranged $2 million in acquisition/permanent mortgage financing for a free-standing building leased to Goodwill Industries in Attleboro. EagleBridge’s Brian Sheehan and Ted Sidel arranged the loan for the 15,950-square-foot facility at 115 Washington St.
GARLAND — Firewheel Market, a specialty retail center at the front of Firewheel Town Center mall in Garland, has added eight new tenants. Steve Gray and Grant Gold of The Weitzman Group handled negotiations for the landlord. The new tenants include: Firewheel Salons — 7,772 square feet Massage Envy — 3,524 square feet AAA Texas — 3,424 square feet (Weitzman’s Earl Harris represented AAA Texas) Dallas Metroplex Endodontics — 1,912 square feet Batteries Plus — 1,577 square feet Granny’s Playhouse — 1,482 square feet Merle Norman — 1,324 square feet (Weitzman’s Christopher Young represented Merle Norman) Al’s Formal Wear — 1,250 square feet (Weitzman’s Gold represented Al’s Formal Wear)
SALISBURY, MD., & WINCHESTER, VA. — H&R Retail has arranged two leases on behalf of Hobby Lobby: a 56,800-square-foot lease at North Point Plaza in Salisbury and a 55,793-square-foot lease at South Pleasant Valley Road in Winchester. David Ward and Ben Hoskins with H&R Retail's Baltimore office represented Hobby Lobby in both lease transactions. Jim Crilley of the firm's Bethesda, Md., office represented the landlord in the Salisbury transaction.
OCALA, FLA. — The Shopping Center Group has arranged two new leases for Bealls Outlet and Ross Dress for Less at the 222,000-square-foot Six Gun Plaza, located in East Ocala along Silver Springs Boulevard. Bealls Outlet signed a 7-year lease for 35,500 square feet and is expected to open this fall. Ross Dress for Less signed a 10-year lease for 32,000 square feet and is expected to open in 2012. Kevin Hipes of The Shopping Center Group's Orlando, Fla., office represented SouthEast Properties, the owner, in the lease transactions. John Dottore and Marc Sullivan of the same office represented Ross Dress For Less. Bealls was self-represented.
AVON, OHIO — Luttner Real Estate Investments Services has arranged the $3.82 million sale of a J.C. Penney ground lease in Avon. The property has 17.5 years remaining on the initial 20-year lease. Mark Luttner of Luttner's Chicago office represented the seller, The Richard E. Jacobs Group, and procured the buyer, a private investor.
PHILADELPHIA — The Great Atlantic & Pacific Tea Company, Inc. (A&P) is opening a new 51,000-square-foot Superfresh store at North 2nd Street and West Girard Avenue in Philadelphia’s Northern Liberties neighborhood. The new store will feature fresh seafood caught locally, full-service pharmacy, floral department, home delivery, bakery, sushi bar, gourmet deli and local meats and produce. The store is expected to bring more than 120 jobs to the community.
ALLEN — Eleven new tenants have joined The Village at Allen, a component of a 400-acre mixed-use development located at the intersection of U.S. Highway 75 and Stacy Road. Dallas-based The MGHerring Group developed the mixed-use property, which totals an aggregate 3 million square feet of commercial property. The new tenants comprise more than 35,000 square feet of retail space, including: Metro PCS, 1,115 square feet Pier 1 Imports, 10,416 square feet Rudy’s Bar-B-Q, 5,000 square feet Al’s Former Wear, 1,267 square feet Bliss Cupcakes, 1,265 square feet Barbeques Galore, 4,893 square feet Smoothie King, 1,321 square feet Raising Cane’s, 3,530 square feet Sprint, 2,449 square feet Bicycles Plus, 5,100 square feet Sun’s Tailor, 931 square feet
BAKERSFIELD, CALIF. — The East Hills Mall in Bakersfield will be auctioned at the Los Angeles Courthouse of the U.S. Bankruptcy Court, Central District of California, on Sept. 22. The 410,000-square-foot East Hills Mall sits on 36 acres and was originally built by the Hahn Company in 1988. The portion to be sold at auction consists of the mall shops and a theater, which contains about 178,000 leasable square feet on 17.8 acres. The mall was previously anchored by Mervyns and Gottschalks, but after both retailers were liquidated in 2009, East Hills struggled to pay its debts and its owner, BH Mall LLC, subsequently filed for bankruptcy. The auction’s minimum starting bid will be $4.1 million.