ALGONQUIN, ILL. — Oak Brook, Ill.-based Mid-America Development Partners has announced the opening of two anchor tenants at of Algonquin Galleria, the developer’s 35-acre shopping center currently under construction in Algonquin. A 30,000-square-foot Best Buy and a 20,000-square-foot Ethan Allen have opened, anchoring Phase I of the development. Additional plans call for a 60,000-square-foot Brunswick Zone and a 40,000-square-foot Dania to open soon. La-Z-Boy, Golden Corral and Famous Dave’s are scheduled to open by mid-year. The development’s 10,685-square-foot outlot building has already been completed, and is fully leased by tenants including Potbelly Sandwich Works and Jamba Juice, which are both already open. LensCrafters and 2nd Wind Exercise Equipment will open in the outlot building soon.
Retail
CHICAGO — Primestor Development has announced that Jewel-Osco will open a 62,000-square-foot location at Marshfield Plaza, the developer’s 454,000-square-foot community shopping center set to open this fall at the interchange of 119th Street and Interstate 57 in Chicago’s South Side. The grocer will join a tenant roster that includes Target, Staples, Petco, Marshalls, Fifth Third Bank and Panda Express, among others.
CHICAGO Primestor Development has announced that Jewel-Osco will open a 62,000-square-foot location at Marshfield Plaza, the developer s 454,000-square-foot community shopping center set to open this fall at the interchange of 119th Street and Interstate 57 in Chicago s South Side. The grocer will join a tenant roster that includes Target, Staples, Petco, Marshalls, Fifth Third Bank and Panda Express, among others.
WESTMINSTER, COLO. — A California syndicated investment group has acquired Westminster Crossings, a 31,279-square-foot retail center located at 13630-13640 Orchard Pkwy. in Westminster, for $9.67 million. Current tenants of the property include Starbucks Coffee, Verizon Wireless, Subway, Slim4Life, KaCee’s Wine & Spirits and Carl’s Jr. Jon Hendrickson of Marcus & Millichap brokered the transaction.
LINDSAY, CALIF. — Los Angeles-based Olivewood Properties LLC has acquired Olivewood Plaza, a 96,259-square-foot retail center located at 202-265 N. Highway 65 in Lindsay. Calabasas, Calif.-based Raymond Plaza LLC sold the property for $13.7 million. At the time of acquisition, the four-building property was 94 percent occupied by a variety of tenants, including Save Mart Supermarket, Rite Aid, Starbucks Coffee, AutoZone, Taco Bell, Tulare County, Subway, Movie Gallery and Straw Hat Pizza. Edward Hanley and Bryan Land of Hanley Investment Group Real Estate Advisors represented both parties in the transaction.
ALPHARETTA, GA. and TEXARKANA, ARK. — Boise, Idaho-based Spectrus Real Estate has closed four 1031 exchange transactions, totaling $26 million, in Alpharetta; Texarkana; Austin, Texas; and Meridian, Idaho, for San Francisco-based buyers. Mansell Plaza, a 14,473-square-foot retail building in Alpharetta, is located at 1605 Mansell Rd. The property is anchored by Starbucks, Waffle House and The Original Mattress Factory. Texarkana Plaza, an 11,600-square-foot retail center, is located at 131 Arkansas Blvd. The property is leased to five nationally accredited tenants. The buyers of both centers were represented by Stephen Pugh of Alain Pinel Investment Group, and the transactions included the Spectrus Net Lease PLUS program.
POLK COUNTY, FLA. — Cuhaci & Peterson Architects is designing two retail centers in Polk County, for Charlotte-based Crosland Co. and A.G. Armstrong, respectively. Crosland Co. is developing a 60,000-square-foot center, featuring a 40,000-square-foot Sweetbay supermarket, at the intersection of Highway 27 and State Route 547. A.G. Armstrong is developing Phase 2 of the Shoppes on the Ridge, which consists of a 40,000-square-foot addition. The property is located at the intersection of Highway 27 and Chalet Suzanne Road.
COLUMBIA, S.C. — Columbia Northeast LLC has acquired Columbia Northeast Shopping Center, a 58,783-square-foot, 10-acre property, from American Spectrum, for $3.2 million. The retail center is located at 9221 Two Notch Rd. Anchor tenants are Big Lots and Dollar General. Woody Sharpe of Columbia-based NAI Avant brokered the transaction.
SHEBOYGAN, WIS. — Milwaukee-based Ogden & Co. has arranged the sale of a 55,000-square-foot retail strip center, located at 3321 S. Business Dr. in Sheboygan, for $3.85 million. The property is anchored by Deals & Steals Furniture and Goodwill; additional tenants include Play It Again Sports, Pay Day Loan and The Barbershop. The property was acquired by Shevegas from HP Properties. Gordon Steimle and Roger Duchow of Ogden & Co. brokered the sale.
SHEBOYGAN, WIS. — Milwaukee-based Ogden & Co. has arranged the sale of a 55,000-square-foot retail strip center, located at 3321 S. Business Dr. in Sheboygan, for $3.85 million. The property is anchored by Deals & Steals Furniture and Goodwill; additional tenants include Play It Again Sports, Pay Day Loan and The Barbershop. The property was acquired by Shevegas from HP Properties. Gordon Steimle and Roger Duchow of Ogden & Co. brokered the sale.