O’FALLON, BETHALTO AND GODFREY, ILL. — St. Louis-based Schnuck Markets Inc. has acquired two Illinois grocery stores located in O’Fallon and Bethalto. Additionally, Schnuck has acquired a lease on a third store in Godfrey. The three stores were sold by the Sher family of St. Louis, which owns the management company, The Homer Group. O’Fallon Hart Food & Drug and the Bethalto Park N Shop will close on October 20, and reopen on October 23 as Schnuck stores. The Godfrey Park N Shop store will be closed. Craig Schnuck of Schnuck Markets Inc. helped to broker the agreement. The acquisition cost was not disclosed.
Retail
GERMANTOWN, WIS. — Coldwell Banker Commercial McGuire Mears & Associates has arranged the sale of a 7,500-square-foot retail strip center located on Mequon Road in Germantown. The sales price was $1.1 million. The buyer and seller were not disclosed. Barry Badertscher of Coldwell Banker Commercial McGuire Mears & Associates represented the seller in the transaction.
MARYVILLE, TENN. — St. Louis-based Foothills Plaza LLC has sold the 102,596-square-foot Foothills Plaza to Heritage Park Mall LLC and DDDD for $3.9 million. The property, located at 501 Foothills Plaza in Maryville, is 92 percent leased. Jason Little and Daniel Morris of Oklahoma City-based Sperry Van Ness|Gregory Interests represented the seller.
CORAL GABLES, FLA. — Publix has acquired 1.82 acres of land in Coral Gables for a 50,000-square-foot store. Located at the intersection of Flagler Street, Douglas Road and Ponce de Leon Boulevard, the store will feature a two-story rooftop garage. The project is being developed by Global Fund Investments, which also secured the land. Groundbreaking is scheduled for late 2009.
HARRISBURG, ILL. — Walton Construction St. Louis has completed a 180,954-square-foot Wal-Mart Supercenter store in Harrisburg. The retail facility was completed in less than a year, with the grand opening planned for October 29. LawKingdon Architecture of Wichita, Kan., served as architect for the project. Local Harrisburg companies involved in the project included Burke Electric, Jerry White Excavating, Litton Enterprises, Asphalt Maintenance Inc. and Southern Illinois Asphalt. Since beginning its work with Wal-Mart Co., Walton has constructed the Wal-Mart Supercenter in Marion, Ill., and recently completed another Supercenter location in Chesterfield, Mo.
CHICAGO — Schiller Park, Ill.-based Englewood Construction has completed the 52,000-square-foot American Girl Place flagship store located within Water Tower Place at 835 N. Michigan Ave. in Chicago. American Girl Place occupies the first and second floors of the building, which formerly housed Lord & Taylor. The new American Girl retail experience, which is a relocation of its Chicago Avenue store, features a full-service restaurant, equipped with a private dining/party room, a photo studio and a doll hair salon. Englewood is also currently building the 22,000-square-foot, two-story American Girl Boutique within the amusement park of the Mall of America in Minnesota. The Mall of America location will open in November.
MURRIETA, CALIF. — Regency Centers Corp. is breaking ground for the development of Murrieta Marketplace in Murrieta. Located at Clinton Keith Road and Winchester Road, the project will feature approximately 469,776 square feet of brand-name retailers, banks and restaurants, including a 137,940-square-foot Target and a 124,076-square-foot Lowe’s Home Improvement Warehouse. Regency Centers acquired the property in July 2007.
IDAHO, MONTANA AND WASHINGTON — Black Equities has acquired 10 Columbia Paint Stores located throughout Idaho, Montana and Washington for a combined value of more than $6.4 million. The properties have a combined square footage of more than 51,900 square feet. Three stores are located in Idaho, three in Montana and four in Washington. Randy Sheinbein of NAI Capital’s West Los Angeles office represented the buyer; Earl Engle and Scott Person of Spokane, Wash.-based NAI Black represented the seller, Lyndale Properties, in the transaction.
NAPLES, FLA. — A bevy of new tenants will join existing luxury retailers in the 370,000-square-foot Waterside Shops in Naples, a Southfield, Mich.-based Forbes Co. development that opened in 1992. The shopping center is anchored by Saks Fifth Avenue, which will undergo a 20,000-square-foot expansion later this month. In November, Nordstrom will open a 77,000-square-foot store, complete with an e-Bar and a Bistro café, and De Beers will move into a 744-square-foot showroom. Also opening next month is a 1,500-square-foot kate spade boutique, a 2,546-square-foot Juicy Couture and a St. John store. In January, Waterside will welcome a 1,300-square-foot Van Cleef & Arpels, and Basler is set to open a 1,100-square-foot shop. Salvatore Ferragamo rounds out the new openings, with an early 2009 date set for its 1,940-square-foot store. Bloomfield Hills, Mich.-based Taubman Centers and ING Clarion are partners in the shopping center project.
ATLANTA — RREEF Real Estate, on behalf of an institutional client, has acquired the 186,058-square-foot Perimeter Square, located on Perimeter West Boulevard in Atlanta, from ING Clarion for an undisclosed amount. The shopping center is fully-leased to Bed Bath & Beyond, T.J. Maxx, Haverty’s, Total Wine, PetSmart and others. DTZ Rockwood’s Hayes Swann and Matt Tritschler represented RREEF in the transaction.