AUSTIN — La Corsha Restaurant Partners of Austin are developing two restaurants, Congress and Second Congress, at The Austonian in Austin. The properties will be located at corner retail space at the intersection of Congress Avenue and Second Street. STG Design is providing architecture services, and Amber Lewis Design is handling interior design. The restaurants are expected to open later this year.
Retail
BUCKEYE, ARIZ. — Marcus & Millichap has brokered the more than $4.44 million sale of a 14,820-square-foot Walgreens located at 25073 W. Southern Ave. in Buckeye. The brokerage firm’s Jamie Medress and Mark Ruble represented the seller, a limited liability company, in the transaction.
OMAHA, NEB. — Jo-Ann Fabric and Crafts Stores is opening a 24,100-square-foot location in Omaha. Located at 132nd and West Center Road within Baker Square, the store will feature of variety of merchandise, including fabrics, crafts, frames, paper crafting materials, artificial floral, home accents, and finished seasonal and home décor merchandise. Construction of the new property is scheduled to begin in August, with completion expected in November.
REYNOLDSBURG, OHIO — R Studio, an aerobic exercise facility, has leased 4,043 square feet of space at Brice Park in Reynoldsburg. Terms of the transaction were not released. Avi Abroms of Centro Properties Group provided in-house representation for the landlord, Centro Properties Group.
CHULA VISTA, CALIF. — Cushman & Wakefield has negotiated Jefferson Pilot Investments’ $19.8 million sale of 103,548-square-foot The Shops at San Miguel Ranch located at 2310 – 2350 Proctor Valley Rd. in Chula Vista. Developed in 2007 by McMillin Commercial, the grocery-anchored shopping center is 76.8 percent leased, including tenants Albertsons and Starbucks Coffee. Cushman & Wakefield’s Pete Bethea, Rob Ippolito, Jesse Lowe and David Bradley negotiated the lender sale for JPI; the buyer, MGP IX REIT LLC, represented itself.
CHESAPEAKE, VA. — HHG Chesapeake has purchased 5.2 acres of land in the Kohls Crossing development in Chesapeake from Crystal Lake 64 Associates for $1.75 million. The buyer is planning to build a 25,000-square-foot hhgregg store on the land. An additional 25,000 square feet will be added as needed. David M. Smith of Thalhimer brokered the transaction.
ATCHISON, KAN. — Agree Realty Corp. has purchased a retail property in Atchison for $4.21 million. The property is currently net leased to CVS/Caremark Corp. Additional terms of the transaction were not disclosed.
SAN ANTONIO — NDS Construction will soon break ground on the first phase of a new Noah's Ark Self Storage & RV Storage location at the intersection of FM 1516 and IH 10 in San Antonio. The facility will contain temperature-controlled units, fully enclosed RV and boat storage, and a secured digital surveillance system. Regular storage units are offered in sizes from 25 square feet to 300 square feet.
MARYLAND AND VIRGINIA — PMIG LLC has borrowed an $8.31 million loan for five gas stations in Maryland and Virginia. Financed by John Marshall Bank, the 10-year loan carries a 20-year amortization. Matthew Kohlhoss of NorthMarq Capital arranged the loan.
NEW YORK CITY — The Hammacher Schlemmer Building, a 62,500-square-foot boutique retail and office building located at 145 E. 57th St. in New York City, was sold in a $34 million transaction. The building was constructed in 1926 as Hammacher Schlemmer's flagship building, and the catalogue company still occupies it today, though its lease will expire later this year. Darcy Stacom and Paul Gillen of CB Richard Ellis' Investment Properties Group, along with Robert Garrish of the firm's Private Client Group, represented the seller, Jenel Management Corp. The buyer was a Brazilian real estate developer.