TERRE HAUTE, IND. — Thompson Thrift Development has leased two spaces within Honey Creek Commons, a shopping center the developers controls that is located in Terre Haute. First, JoAnn Fabrics & Crafts has signed a 10-year lease for 25,127 square feet within the center, which is located at 5705 U.S. Highway 41. Additionally, America’s Best Contacts & Eyeglasses has signed a 5-year lease for 3,200 square feet at 5787 U.S. Highway 41. Thompson Thrift’s Susannah Gershman provided in-house representation for the landlord in both transactions. JoAnn was represented by Bob Byrne of Edge Commercial Real Estate and America’s Best was represented by Allison Tiefel of Colliers Turley Martin Tucker. Additional tenants at Honey Creek Commons include Kohl’s, T.J. Maxx, David’s Bridal, Dress Barn, rue 21, MW Tux and Subway.
Retail
HOUSTON — Houston-based Holliday Fenoglio Fowler (HFF) has been tapped to market a 52-property shopping center portfolio for sale. The seller is Macquarie DDR U.S. Trust Inc., which is controlled by a joint venture between Macquarie Capital Advisors and Developers Diversified Corp. The portfolio contains shopping centers located in 20 states. It totals 12.5 million square feet and has an average occupancy of 88.5 percent. Major tenants include Walmart, BJ’s Wholesale Club, Bed Bath & Beyond, T.J. Maxx, Kohl’s and Dick’s Sporting Goods. As of December 31, 2008, the portfolio was valued at approximately $1.9 billion. HFF’s John Pelusi, Barry Brown, Doug Hazelbaker and Lynn De Marco will lead the sales team. The portfolio can be subdivided to suit the needs of a buyer.
BOGALUSA, LA. — A privately-held REIT has purchased an 11,945-square-foot CVS/pharmacy from an undisclosed retail developer for $4.15 million. The property is located on Superior Avenue in Bogalusa. Ryan Butler and Brad Moulder of Tulsa, Okla.-based Stan Johnson Co. represented the seller, and the firm’s Gill Warner, Rod Pickney and Chad Byerly represented the buyer.
MCKINNEY, TEXAS ¬— Ag-Power, a farm equipment dealership, has selected Arlington, Texas-based Bob Moore Construction to build a new sales and service center in McKinney. The 60,000-square-foot building will be located on North Central Expressway; it will replace the company’s current McKinney dealership. Bob Moore Construction is serving as general contractor; Dallas-based NCA Partners will serve as project architect. Groundbreaking is slated for this month, with completion expected in February 2010. Ag-Power is one of the state’s leading John Deere dealers. It also carries equipment from Stihl and Honda Power Equipment.
HOUSTON — Two retailers and a restaurant have held their grand openings within three different Houston shopping centers owned by Centro Properties Group. Melrose has opened a 10,800-square-foot location within Northwood Shopping Center, located at the corner of Eastex Freeway/Route 59 and Aldine Mail Road. Beauty Empire 15 has opened an 8,050-square-foot location within Huntington Village, located at the intersection of Bissonnet Street and Dairy Ashford Road. Finally, Subway has opened a 1,357-square-foot restaurant at Mount Houston Square, located at the corner of Eastex Freeway/Route 59 and West Mount Houston Road.
SACRAMENTO, CALIF. — Vincent Aicale and Pedro Arroyo of Arroyo & Coates brokered the $11.15 million disposition and acquisition of Arden Howe Plaza, a 59,082-square-foot shopping center located in the Arden submarket of Sacramento. Located off the corner of Arden Way and Howe Avenue, the property features 30,297 square feet of retail space and 28,880 square feet of commercial flex space. At the time of acquisition, the property was 96 percent occupied by Round Table Pizza, Wells Fargo, Mexicana Airlines and Brook Furniture. The buyer and seller were not disclosed.
RANCHO CUCAMONGA, CALIF. — Towne Park Plaza L.P. has acquired a 25,002-square-foot retail space at Day Creek Village, a grocery-anchored shopping center located at 12223-12273 Highland Ave. in Rancho Cucamonga, for $11 million. Tenants included in the sale are Starbucks Coffee, Wells Fargo, The UPS Store and Supercuts. Scott Hook of Marcus & Millichap represented the buyer; Jeff Conover of Faris Lee Investments represented the seller, Newport Beach, Calif.-based Day Creek Investors LLC, in the transaction.
THORNTON, COLO. — The Denver office of NorthMarq Capital has arranged an approximately $1.52 million permanent loan for Handy Storage, a 234-unit self-storage facility located at 2045 Coronado Parkway North in Thornton. The 33,500-square-foot property consists of seven single-story buildings. Terms of the loan include a 6.95 percent fixed rate and a 30-year amortization. Dale Stewart of NorthMarq’s Denver office secured the financing on behalf of the undisclosed borrower.
GLEN MILLS, PA. — Greensboro, N.C.-based grocer Fresh Market is opening a new location this month at 925 Baltimore Pike in Glen Mills. The 23,000-square-foot location will feature an in-house bakery, a full-service meat counter an a produce department that features more than 400 items and an organic produce section. This newest location marks the grocer’s entry into the greater Philadelphia market. A second store is scheduled to open later this year in Horsham, Pa.
BAYTOWN, TEXAS — Rent-A-Center has opened a 5,200-square-foot store at Baytown Shopping Center, which is located on the southwest corner of Garth Road and Rollingbrook Street in Baytown. Centro Properties Group owns the center. Stephen Swope of Centro Properties Group represented the company in lease negotiations.