Milford, N.H. — JLL has negotiated the sale of Lordens Plaza, a 148,102-square-foot shopping center in Milford, which is located near Nashua just inside New Hampshire’s southern border. Shaw’s Supermarket anchors the property, which is located at the intersection of State Routes 101 and 101A. Other tenants include Rite Aid and Fresenius Medical Care. Nat Heald and Chris Angelone led the JLL team on behalf of the seller, LNR. Seattle-based Bridge33 Capital was the buyer.
Dallas — Sperry Commercial has brokered the sale of Stemmons Center, a 42,594-square-foot shopping center located at 2629 N. Stemmons Freeway in Dallas. According to LoopNet Inc., the property was built on 4.4 acres in 1979. Calvin Wong and Daniel Eng of Sperry Commercial represented the buyer and the seller, both of which requested anonymity, in the transaction.
Austin, Texas — MIMCO, an El Paso-based retail investment firm, has acquired Four Corners Shopping Center, a 32,000-square-foot retail center located at the intersection of South Congress Street and William Cannon Drive in Austin. Tenants include Austin Regional Clinic, Popeye’s Louisiana Kitchen and Schlotzsky’s Deli. The seller was not disclosed. With this transaction, MIMCO’s Central Texas portfolio now spans more than 2 million square feet of shopping center space.
Lake Elsinore, Calif. — Faris Lee Investments has arranged three sales with three buyers within Central Plaza Shopping Center in Lake Elsinore. The three transactions total $11.4 million. The first sale was for a Marshalls-occupied building, which sold for $4.5 million at a 6 percent cap rate; the second sale was for a Panera Bread-occupied building, which sold for $3.8 million at a 4.8 percent cap rate; and the third sale was for a Pieology- and Ono-occupied building, which sold for $3.1 million at a 5 percent cap rate. The …
Waco, Texas — Houston-based NewQuest Properties has broken ground on Cottonwood Creek Market, a 143-acre entertainment retail project in Waco. Located at the intersection of Interstate 35 and Loop 340, the development will span 285,000 square feet. A 14-screen Cinemark theater will anchor the project, and NewQuest is in talks to add a bowling and family dining concept, as well as a national retailer in golf entertainment. The opening is scheduled for spring 2020.
Garden City, N.Y. — Century 21 Stores will open a new department store at Roosevelt Field in Garden City. The 68,000-square-foot store is expected to open in spring 2021. Century 21 will be housed in the space currently occupied by Bloomingdale’s Furniture, which will be consolidating into the newly renovated Bloomingdale’s store. Century 21 will offer men’s, women’s and children’s apparel, footwear, outerwear, lingerie and accessories, beauty and home goods. Roosevelt Field is owned and operated by Indianapolis-based Simon. The mall has more than 250 retailers including anchors Neiman Marcus, …
Lafayette, La. — Uber Capital Group LLC has provided a $33 million acquisition loan for Acadiana Mall in Lafayette. The loan comes with a 15-year term, a 5.4 percent fixed-rate, 70 percent loan-to-value and is partial recourse. Acadiana Mall spans 1.6 million square feet, and is located six miles south of downtown Lafayette. The anchor tenants are Macy’s, Dillard’s and JCPenney. Additional tenants include Aeropostale, Victoria’s Secret, Forever 21, The Children’s Place, Zumiez, Kay Jewelers, Jimmy Jazz, Men’s Wearhouse, Chick-fil-A, Thai Max and T-65 Café restaurants. Namdar Realty Group acquired …
Litchfield, Ill. — Hanley Investment Group has arranged the $1.7 million sale of a new Aldi-occupied building in Litchfield Plaza in Litchfield. The 22,245-square-foot building opened July 18. Other tenants at the center include Dollar General, Glik’s, Hibbett Sports, Maurices, National Rent-to-Own, Pizza Hut, Salvation Army, Shoe Sensation, Taco Bell and Wendy’s. Aldi has a 15-year, absolute triple-net ground lease in place that has rental increases every five years and renewal options. Jeff Lefko and Bill Asher of Hanley, along with Alex Apter of LOCATION Commercial Real Estate, represented the …
Parsippany, N.J. and San Francisco — One of the recently fallen retail giants is poised to make a return less than two years after its demise. Tru Kids Brands, the Parsippany-based parent company of Toys ‘R’ Us, and b8ta, a San Francisco-based experiential retail firm, have announced plans to bring back Toys ‘R’ Us stores to the United States. The retailer announced in March 2018 that it was declaring bankruptcy and would start an “orderly wind down” and close its 735 remaining stores. Now, 16 months later, the Tru Kids-b8ta joint venture …
Dallas — The Dallas Cowboys, in partnership with global fitness center developer Mark Mastrov, will open a 20,000-square-foot Cowboys Fit gymnasium at the AT&T Discovery District in downtown Dallas. Club members can enjoy a range of boutique fitness classes, including yoga and barre, as well as access to customized fitness plans and Cowboys merchandise. The opening is slated for this winter.
