Rosenberg, Texas — SuperNova Furniture will open a 40,000-square-foot store at Brazos Town Center, a 550-acre mixed-use development by local developer NewQuest Properties in Rosenberg, a southwestern suburb of Houston. The lease term is 10 years, and the store, which is located in a space formerly occupied by department store Gordman’s, is set to open this fall. The lease pushes the property’s retail occupancy rate to 98 percent. Joe Silver and Chris Pitts of Streetwise Retail Advisors represented the retailer in the lease negotiations.
Atlanta, Ga. — Stan Johnson Co. has brokered the $5.3 million sale of Villages at Camp Creek, a 9,633-square-foot shopping center in Atlanta. Jeff Enck of Stan Johnson Co. represented the seller, a local private investor, in the disposition of the property to a group of individual investors from Georgia. Both parties were involved in 1031 exchanges. Located at 3530 Camp Creek Parkway, Villages at Camp Creek was fully leased at the time of sale to tenants including Verizon Wireless and American Deli. The center is located near Camp Creek …
North Bethesda, Md. — Federal Realty Investment Trust has acquired four retail properties in California, Virginia and Arizona totaling 1.75 million square feet. Acquisitions include Grossmont Shopping Center, located 10 miles outside San Diego in La Mesa, California; Camelback Colonnade and Hilton Village, both located in the Phoenix metropolitan area; and Chesterbrook Shopping Center, located 10 miles outside Washington, D.C., in McLean, Virginia. Federal Realty will own 80 percent interest in the four properties, which occupy 125 acres of land valued at $407 million. The 925,000-square-foot Grossmont Shopping Center was …
Black Lion Investment Group Acquires Amara at Paraiso Restaurant Property in Miami for $12.1 Million
Miami — Black Lion Investment Group has acquired a waterfront restaurant building in Miami occupied by Amara at Paraiso from Related Group for $12.1 million. Fabio Faerman and Sebastian Faerman of Miami-based FA Commercial represented both parties in the transaction. The 12,300-square-foot building is part of a larger project that includes the residential complex Paraiso Bay, which contains 1,300 residential units. James Beard Award-winning chef Michael Schwartz is at the helm of the popular indoor-outdoor restaurant.
Irvine, Calif. — TRADE Marketplace in Irvine has added three restaurants to its tenant mix including Champion’s Curry, SmörBurgers and Yomie Yogurt. Champion’s Curry opened earlier this year. The restaurant serves Chef Yoshikazu Tanaka’s spin on traditional curry recipes and related dishes. SmörBurgers — a restaurant concept by Chef Joe Youkhan serving hamburgers and fries inspired by international dishes — is set to open in June. Yomie Yogurt, which sells healthy yogurt, is also set to open this summer.
Lancaster, S.C. — JLL Capital Markets has arranged the $9.9 million sale of Lancer Center, a 178,626-square-foot super regional shopping center anchored by KJ’s Market in the Charlotte-area community of Lancaster. Tom Kolarczyk of JLL represented the undisclosed seller in the transaction. John Gavigan of JLL represented the new owner, Medalist Diversified REIT Inc., in securing a $6.6 million, five-year, fixed-rate acquisition loan through Cooperative Business Services. Lancer Center was constructed in 1983 and most recently renovated in 2013. The 97 percent-leased center is home to Big Lots!, Harbor Freight …
Orlando, Fla. — 6500 4R3G LLC has purchased a CVS/pharmacy in Orlando for $6.9 million. The property is approximately 13,000 square feet and is located at 7300 Curry Ford Road. David Stevens of Investment Properties Corp. negotiated the disposition on behalf of the seller, Arcostar LLC. Alexandros Pappas of Haute CRE LLC represented the buyer in the transaction.
Des Moines, Iowa — The Boulder Group has brokered the sale of a restaurant property occupied by Fazoli’s in Des Moines for $1.2 million. The 3,350-square-foot building is located at 3600 Merle Hay Road. Randy Blankstein and John Feeney of Boulder represented the seller, an undisclosed investment firm based in Texas, in the transaction. A Midwest-based investor was the buyer. Fazoli’s, an American fast-casual restaurant chain, has more than 10 years remaining on its lease.
Orlando, Fla. — InvenTrust Properties Corp. has unveiled plans to redevelop Suncrest Village, a 93,358-square-foot shopping center located at 10021-10115 University Blvd. in Orlando. Planned improvements to the center include replacement of the existing anchor building occupied by Publix with a larger prototype store to be constructed in the same location. Small-shop tenant facades at Suncrest Village will receive new paint, lighting, replacement of the mission tile roof, a new sign band on portions of the canopy, improved landscaping and green trellis areas with accent lighting. InvenTrust plans to employ …
Paintsville, Danville, Eastern and Girdler, Ky. — Marcus & Millichap has arranged the $5.6 million sale of a four-property Dollar General portfolio totaling 36,400 square feet. Darpan Patel, Dan Yozwiak and Matthew Johnson of Marcus & Millichap represented the seller, James Myers of Kentucky Lodging and Development, and secured the buyer, Harrimack Holdings Acquisitions LLC, in the transaction. Colby Haugness, also of Marcus & Millichap, assisted in closing the transaction. The portfolio includes four Dollar General locations throughout Kentucky. Properties are located at 1370 Euclid Ave. in Paintsville; 6595 Alum …