GRAND RAPIDS, MICH. — NAI Wisinski has brokered the sale of Northland Plaza in Grand Rapids for an undisclosed price. The 20,168-square-foot shopping center is located at 3325 Plainfield Ave. NE. The property, currently home to a fitness center and tanning salon, will be renovated. Bill Tyson and Todd Leinberger of NAI Wisinski represented the buyer, 1923 Property LLC. Darrel Herweyer of DAR Development represented the undisclosed seller.
WHEATON, ILL. — Salon Lofts has signed a 3,795-square-foot retail lease to open at Town Square Wheaton near Chicago. The 203,000-square-foot shopping center is located at the intersection of Blanchard Circle and Naperville Road. Interior build-out of the national salon chain’s space is expected to begin this month with completion slated for summer 2018. Tucker Development owns Town Square Wheaton.
TULARE AND HANFORD, CALIF. — Retail California has arranged leases for two retail spaces in Tulare and Hanford, both located between Los Angeles and the Bay Area. In the first deal, The Habit Burger Grill leased 16,837 square feet of restaurant space at 989 E. Prosperity Ave. in Tulare. Prosperity Equity Partners is the landlord. Nick Frechou of Retail California and Shane Anderson of Commercial Retail Associates brokered the transaction. In the second deal, Aldi Food Market signed a lease for 22,500 square feet of retail space at the southwest corner of 12th Avenue and Lacey Boulevard in Hanford. Eureka Development Co. is the landlord. Frechou and Michael Arfsten of Retail California, along with Chris Campbell of CB Commercial, arranged the transaction.
DALLAS — Home décor retailer At Home will open a 108,000-square-foot store at the corner of President George Bush Turnpike and Firewheel Parkway in northeast Dallas. Situated on 11.1 acres, the store is expected to open during the fourth quarter. Michael Meaden and Andrew Wiley of JLL, along with Rich Flaten of CBRE, represented the partnership that sold the future site of the store. Karla Smith of CBRE represented the buyer in the land sale. Plano, Texas-based At Home operates approximately 115 stores across the country.
MCALLEN, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a Walgreens-leased store located in the Rio Grande Valley (RGV) metro of McAllen. Will Merritt and Adam Gottschalk of STRIVE represented the seller, a New York-based investor. Merritt and Gottschalk also procured the buyer, a Michigan-based private investor that acquired the property via a 1031 exchange. At the time of sale, the property had 15 years remaining on its double net lease
WINTER HAVEN, FLA. — The Shopping Center Group (TSCG) has arranged the $6 million sale of Chain O’Lakes Plaza, a 91,160-square-foot shopping center located at the intersection of U.S. Highway 17 and Avenue O S.W. in Winter Haven, a city in Central Florida roughly 45 miles south of Orlando. Anthony Blanco, Lenard Williams, Mallory Silva and Tyler Freeman of TSCG arranged the transaction on behalf of the seller, an affiliate of Kimco Realty Corp. An undisclosed, Tampa-based investor acquired the asset. At the time of sale, the property was 97 percent leased to tenants such as Big Lots, Family Dollar, Jo-Ann Fabrics, Rainbow Shops and Dunkin’ Donuts/Baskin Robbins. Save-A-Lot shadow-anchors the center, which also includes a one-acre, undeveloped outparcel along U.S. Highway 17.
BALCH SPRINGS, TEXAS — Marcus & Millichap has arranged the sale of a 9,100-square-foot retail property net-leased to Dollar General in Balch Springs, an eastern suburb of Dallas. Vincent Knipp of Marcus & Millichap represented the buyer, a private investor, in the transaction. Other terms of sale were not disclosed.
LITTLE FALLS, MINN. — Timber Development has sold a 12,000-square-foot retail center in the central Minnesota city of Little Falls for $1.2 million. The newly renovated property is 100 percent leased. Tenants include Maurice’s Clothing, Shoe Sensation and Cricket Wireless. Erin Patton of Marcus & Millichap brokered the transaction. The buyer was not disclosed.
AURORA, COLO. — M&J Wilkow Ltd., along with MetLife Investment Management, has acquired The Southlands, a retail center located in southeast Aurora. Developed in 2005, the 1.7 million-square-foot complex features retail and office space. Tenants include AMC Theatres, Dick’s Sporting Goods, H&M, Bed Bath & Beyond, Barnes and Noble, Ross Dress for Less, Ulta Beauty and Best Buy. Additionally, the center consists of a traditional power center component, an open-air lifestyle component (known as the Town Center) with fashion, food and entertainment and office space totaling more than 917,000 square feet. Southlands is the third retail center co-owned by M&J Wilkow and MetLife. The name of the seller and acquisition price were not released.
RENO, NEV. — Continental Partners has secured a $11.3 million loan for the acquisition of Mira Loma Shopping Center located at 3310 S. McCarran Blvd. in Reno. CVS/pharmacy and Scolari’s Grocery anchor the 102,782-square-foot retail center, which was 92 percent occupied at the time of acquisition. J.M. Grimaldi of Continental Partners arranged the loan for the borrower, a Los Angeles-based private investor. The borrower plans to implement light value-add renovations to the center, as well as remediate environmental contamination issues remaining due to a former tenant.