WOBURN, MASS. — Teresa’s Ristorante will open a 12,500-square-foot Italian eatery in Woburn, a northern suburb of Boston. The space, which features private dining rooms and a patio, is currently being renovated, and the restaurant expects to open this spring. John Halsey and Steve Cusano of Cummings Properties represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
BATAVIA, ILL. — Marcus & Millichap has arranged the sale of a 2,225-square-foot retail building occupied by Starbucks in Batavia for $2 million. Constructed in 2022, the net-leased, build-to-suit property is located at the intersection of Randall Road and McKee Street. The building features a drive-thru and outdoor seating. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a Chicagoland limited liability company. The duo also secured and represented the buyer, a Wisconsin-based private investor.
SCHAUMBURG, ILL. — Lee & Associates has negotiated the sale of a 12,500-square-foot property formerly occupied by Frankly Yours restaurant in Schaumburg for an undisclosed price. Rick Scardino and Michael Petrik of Lee & Associates represented the buyer, the Village of Schaumburg. Attorney Steven Dobrofsky represented the seller, Chicago Title Land Trust Co.
KENT, OHIO — The Cooper Commercial Investment Group has brokered the $1.9 million sale of a single-tenant, ground-leased property occupied by Taco Bell in Kent. Constructed in 2019, the net-leased building serves as an outparcel to Maplecrest, a shopping center anchored by Meijer and Menard’s. Dan Cooper of Cooper Group represented the seller, a private investment group based in Northeast Ohio. The undisclosed buyer purchased the asset at 99 percent of the list price, which represented a cap rate of 4.52 percent and $897 per square foot.
WIXOM, MICH. — Torch Tobacco has signed a 1,250-square-foot retail lease at Wixom Charms Plaza in Wixom, a northwest suburb of Detroit. CVS anchors the shopping center, which still has spaces available for lease. Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented the undisclosed landlord. Jonathan Semma of 365 Realty represented the tenant.
CINCINNATI — Nicol Investment Co. has sold the Riverfront Portfolio at The Banks, a mixed-use development in downtown Cincinnati, to Crawford Hoying. The sales price was not disclosed, but the Cincinnati Business Courier reports the assets traded for approximately $177 million. The project consists of two multifamily properties totaling 592 units, Current at the Banks and Radius at the Banks, in addition to approximately 100,000 square feet of ground-floor retail space. The properties are located in the city’s Central Business District, nestled between Great American Ballpark (home of the MLB’s Cincinnati Reds), Paycor Stadium (home of the NFL’s Cincinnati Bengals) and the Ohio River, which separates Ohio from Kentucky. The 300-unit Current at the Banks includes more than 77,000 square feet of ground-floor retail space leased to The Holy Grail, Jefferson Social, Fishbowl and Ruth’s Chris. Radius at the Banks features 292 units as well as 19,000 square feet of ground-floor retail, which includes E+O Kitchen and Taste of Belgium. “Crawford Hoying brings tremendous value to the high-profile project as a manager and operator of various commercial real estate projects throughout Ohio,” says Ron Johnson, chief financial officer at Nicol. “We’d like to thank the CBRE Riverfront Team, led by …
DECATUR, GA. — Colliers has arranged the sale of Sam’s Crossing, a 65,785-square-foot shopping center located in Decatur, a suburb northeast of Atlanta. Publix Super Markets anchors the center and was the buyer in the transaction. In addition to the new, 53,785-square-foot grocery store, tenants at the property include DECA Dental, Planet Smoothie, Jersey Mike’s and Jeremiah’s Italian Ice. Joe Montgomery, Scott Israel and Henry Kushner of Colliers’ Retail Investment Sales team represented the seller, Alliance Realty Services, in the transaction. The sales price was not disclosed.
MIAMI BEACH, FLA. — Asana Partners has announced the addition of five new tenants to Sunset Harbour, a 21,000-square-foot retail center in Miami Beach. Restaurants Casa Bufala, Sacro and Nautical Bowls will occupy 2,500, 2,813 and 950 square feet, respectively. Chip City Cookies will also join the food-and-beverage lineup, leasing 980 square feet. Additionally, fitness and wellness club The Outsider will open a 2,006-square-foot location.
SAN JOSE, CALIF. — JLL has arranged the sale of a single-tenant retail building at 3510 Leigh Ave. in San Jose. An undisclosed seller sold the asset to a private capital exchange buyer for $4.4 million. Citibank occupies the 7,986-square-foot property on a triple-net lease with six years of the lease term remaining. Eric Kathrein, Warren McClean and Andrew Spangenberg of JLL Retail Capital Markets represented the seller and procured the buyer in the deal.
TULSA, OKLA. — Dallas-based Mohr Capital has acquired 20 acres at the corner of 71st and Elwood streets in Tulsa for the development of a 50,000-square-foot retail project that will be branded Tulsa Marketplace. Outdoor apparel and equipment retailer REI will anchor the center with a specialty, build-to-suit store, and Mohr Capital will target five national credit tenants to round out the roster. Completion is slated for spring 2024.