Elmhurst, Ill. — Adelphia Properties has arranged the sale of a 14,000-square-foot former restaurant building in Elmhurst, about 20 miles west of Chicago. Arena Sports Bar & Grille formerly occupied the property, located at 630 W. Lake St., for more than 35 years. Simeon Spirrison and George Spirrison of Adelphia represented the seller, the undisclosed proprietor. A local investor purchased the property.
Glenview, Ill. — Several new tenants have signed leases to join the lineup at The Glen Town Center, a shopping center in Glenview, about 20 miles north of Chicago. Offix, a regional coworking and business solutions company, recently signed a 10-year lease for 6,200 square feet for its seventh location. Another recent lease signing was Chuck Lager America’s Tavern, which is owned by Fabio Vivani who appeared on the show “Top Chef.” Also joining the center will be Stretch Zone, a national boutique fitness company with over 40 locations nationwide. …
Silver Spring, Md. — DSW is set to open at Ellsworth Place, a 350,000-square-foot retail and entertainment development by GBT Realty Corp. in Silver Spring, about 5 miles from Washington, D.C. The retailer will open within a 17,500-square-foot space formerly occupied by Guitar Center. Construction on the property is currently underway with DSW expected to open in March. DSW joins tenants at Ellsworth Place including Burlington, Ross Dress for Less, Marshalls, Michaels, T.J. Maxx and Dave & Buster’s.
Kansas City, Mo. — Salon Service Group, a wholesale salon product distributor for licensed cosmetologists, has opened within a 2,000-square-foot space at Red Bridge Shopping Center in Kansas City. Lane4 Property Group manages the center, which has welcomed 12 new tenants since its redevelopment in 2018. Salon Service Group operates 51 locations in 11 states, four of which are in metro Kansas City.
Huntington Beach, Calif. — JLL Capital Markets has arranged the sale of Goldenwest & Bolsa, a retail center located at 15031 Goldenwest St. in Huntington Beach, about 36 miles from Los Angeles. A private equity fund sold the property to a local private investor for $23.5 million. Constructed in 1974 on six acres, Goldenwest & Bolsa features 63,269 square feet of retail space. At the time of sale, the property was 95.4 percent leased. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL Retail Capital Markets represented the seller in …
Webster, Texas — Gulf Coast Commercial Group has purchased Baybrook Passage Shopping Center, a 189,334-square-foot retail property in Webster, about 29 miles from Houston. Built on 20 acres in 2003, the property was 80 percent leased at the time of sale to tenants such as Best Buy, Staples, Memorial Hermann Urgent Care, DXL Casual Male, Mia’s Table and Torchy’s Tacos. CBRE represented the seller, Passage Realty Inc., in the transaction. The new ownership plans to implement a value-add program at Baybrook Passage.
St. Johns, Fla. — CBRE has brokered the $19.2 million sale of Shoppes at Beachwalk, a newly built, Publix-anchored shopping center located in St. Johns, about 22 miles from Jacksonville. The developer, Pebb Enterprises, delivered the 58,887-square-foot shopping center last year. Publix Super Markets purchased Shoppes at Beachwalk, which was fully occupied at the time of sale. Casey Rosen and Dennis Carson of CBRE’s National Retail Partners team represented the seller in the transaction.
Bloomingdale, Ill. — Burlington has signed a lease to open a 27,726-square-foot store at Stratford Crossing in Bloomingdale, about 27 miles from Chicago. Burlington will be the ninth anchor tenant to join the 385,000-square-foot shopping center, which is home to T.J. Maxx, HomeGoods, Mariano’s, PetSmart, Hobby Lobby and Planet Fitness. Joe Parrott, Sean McCourt and Riley McCarron of CBRE represented the ownership, an affiliate of Newmark Merrill Cos., in the leasing transaction. Burlington is scheduled to open later this year.
Flower Mound, Texas — Weitzman has arranged the sale of Arbor Crossing, a 19,260-square-foot shopping center in Flower Mound, about 28 miles from Dallas. The property was fully leased at the time of sale to tenants such as The UPS Store, Verizon Wireless, Nekter Juice Bar and Fuzzy’s Taco Shop. Michelle Caplan and Matthew Rosenfeld of Weitzman, along with Scott Remphrey of Brytar Cos., which developed the property, represented the seller in the transaction. Rob Holuba, Patrick Camporini, Victoria Taylor Madrid and Justin Okumus with CenterSquare Investment Management, which acquired …
Puerto Rico — Forge Capital Partners and The Sembler Co. have sold The Plazas of Puerto Rico, a portfolio of retail centers totaling 555,016 square feet across the island of Puerto Rico. A joint venture between Lamar, CCM Puerto Rico and Real Capital Solutions acquired the properties for $80.3 million. Danny Finkle, Eric Williams, Kim Flores and Andrew Carlson of JLL represented the sellers in the transaction. Dispositions include Juncos Plaza in Juncos; Plaza Los Prados in Caguas; Manatí Centro Plaza in Manatí; and University Plaza in Mayagüez. The portfolio …
