Royse City, Texas — Marcus & Millichap has negotiated the sale of a 5,992-square-foot strip retail center in Royse City, located 45 miles northeast of Dallas. The property was built in 2017 and is leased to Papa John’s, Royse City Urgent Care and Donut Land. Vincent Knipp and Anthony Pucciarello of Marcus & Millichap represented the seller in the transaction. Bill Jordan, also with Marcus & Millichap, represented the buyer, a private investor.
Joliet, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of a two-tenant retail building located in the Chicago suburb of Joliet for $2.7 million. Located at 2900 Colorado Ave., the property is fully leased to Dollar Tree and Osaka Hibachi Grill & Sushi. Chad Firsel of Quantum arranged the transaction. A New York City-based private real estate investor purchased the asset from a Chicago-based acquisition and development company.
Nashville, Tenn. — Bearded Iris Brewery and Barista Parlor, both local to Nashville, have signed leases to join the tenant lineup at Sylvan Supply in Nashville. Third & Urban and FCP are renovating the 96-year-old mill on Charlotte Avenue into a six-building, 130,700-square-foot mixed-use development that will feature office space, outdoor areas and 32,850 square feet of retail and dining space. Bearded Iris Brewery, named for Tennessee’s state flower, will brew experiential batches exclusive to the location, as well as its full portfolio of beer. Barista Parlor will offer coffee …
Paramus, N.J. — The Goldstein Group has negotiated the sale of a 17,661-square-foot retail property in Paramus, located directly across the Hudson River from The Bronx borough of New York City. Outdoor furniture store Harrow’s most recently occupied the space. Lew Finkelstein and C.J. Huter of The Goldstein Group represented the seller, 685 LLC, in the transaction. The buyer was a subsidiary of J&M Furniture.
Pleasant Grove, Utah — Evergreen Devco has completed the disposition of a newly developed retail center, located at 855 W. State St. in Pleasant Grove, Utah. Pinot Pasadena Land Co. acquired the property for $3.1 million. The 5,500-square-foot, multi-tenant retail space was fully occupied at the time of the sale by tenants including Mo’ Bettahs Hawaiian Style restaurant Beans & Brews Coffee House and Dough Co., which is set to open this spring. Evergreen purchased the one-acre site in June 2018 and completed the retail center in November of that …
San Antonio — A partnership between CSW Development and USAA Real Estate will hold a groundbreaking ceremony for La Cantera Heights, a new retail center in northwest San Antonio, on Wednesday, May 1. Construction of the first phase will begin immediately after the event. The current tenant roster — which will include restaurant, fitness and boutique retailers —will be announced at the ceremony. Alamo Architects is designing the project; Metropolitan Construction is serving as the general contractor; and JLL is handling leasing.
Gainesville, Fla. — Celebration Pointe developers have signed a lease to bring in The Keys, a fresh seafood restaurant and entertainment venue. The Keys is locally owned by Tony Espetia, a real estate professional with Coldwell Banker M. M. Parrish Realtors and former owner of Rum Runners and Fat Tuesday in Gainesville, Florida; Brad Heron, the current owner of Rockeys Dueling Piano Bar; and Diego Ibanez, who has more than 25 years of restaurant experience and is the co-owner of Emiliano’s Café, a longtime family-owned restaurant that started as a …
Muskegon, Mich. — RD Management LLC has unveiled plans to redevelop Muskegon Shopping Center located at 3530 Henry St. in western Michigan. The project will include removal of the 134,874-square-foot building formerly occupied by Kmart, renovation of the 32,338 square feet of adjacent retail space and the construction of five residential buildings totaling 126 units. Demolition of the Kmart building will begin in late spring. In addition, Mercy Health has agreed to purchase a 6.2-acre parcel of the shopping center in order to construct a new 40,900-square-foot medical office building …
Wellesley, Mass. — Linear Retail Properties LLC has acquired two buildings totaling 17,900 square feet in downtown Wellesley, a western suburb of Boston. The sale, which included the adjoining 60-space parking lot, closed at a price of $17.6 million. Tenants at the buildings include CVS/pharmacy, Coldwell Banker Residential Brokerage, J.P. Licks and Vision Optics. The seller was a private family trust.
Huntsville, Ala. — Big V Property Group has acquired Westside Centre, a 655,638-square-foot shopping center in Huntsville, Alabama, for $35.9 million. The property was 74 percent leased at the time of the sale to tenants including Big Lots, Stein Mart, Tuesday Morning, PetSmart, Ross Dress for Less, Shoe Carnival and Party City. Super Target shadow anchors the center. Westside Centre is situated at 6275 University Drive NW, adjacent to the 4,000-acre Cummings Research Park and six miles west of downtown Huntsville. The seller was not disclosed.