Clay, N.Y. —Hart Lyman Co. has purchased Great Northern Mall, a shuttered retail and dining development located in Clay, for $9 million. The new ownership plans to redevelop the 120-acre property into a mixed-use destination. Britt Raymond and Kyle Fant of SRS Real Estate Partners represented the seller, New York-based Kohan Retail, in the transaction. The duo also procured Hart Lyman as the buyer.
Los Angeles — Reuben Brothers, a private equity and real estate investment firm, has completed the development of Century Plaza, a $2.5 billion mixed-use project in the Century City area of Los Angeles. Sales and marketing of the development’s two 44-story residential towers totaling 268 for-sale residences will commence this fall. Designed by Pei Cobb Freed & Partners, the buildings offer residential amenities such as a pool, business center, outdoor dining spaces, a dog park and a children’s playroom. Century Plaza also features the reimagined Fairmont Century Plaza hotel, which …
Tempe, Ariz. — Arizona State University (ASU) and Catellus Development Corp. are underway on Novus Place, the 275,000-square-foot retail and entertainment portion of the 4.5 million-square-foot mixed-use Novus Innovation Corridor in Tempe. Located adjacent to ASU’s Tempe campus, the multi-phase project is being developed through a public-private partnership between the university and development firm. Vestar will manage the retail portion of the development. Fox Restaurant Concepts (FRC) recently signed a lease to bring three food-and-beverage concepts — Flower Child, Blanco Taco Cocina + Cantina and North Italia — to the property, …
Oklahoma City — Veritas Development has topped out Phase I of OAK, a 20-acre mixed-use development underway in Oklahoma City. The first phase of the project includes 135,000 square feet of retail space, as well as a 132-room boutique hotel and 320 apartment units. Plans for another phase of the development include an additional 85,000 square feet of retail space and 100,000 square feet of office space. Michael Nagy and Chris Speciale of Open Realty are leading leasing efforts for the retail portion of the property, and tenants currently include Restoration …
Morris Township, N.J. — A joint venture between Accurate and DeVimy Equities has opened Morris Marketplace, a 140,000-square-foot retail center located in Morris Township. Of the 24 tenants that have signed leases at the property, 17 are currently open. Tenants at the center include Burlington, European Wax, Tropical Smoothie, Wells Fargo, Jersey Mike’s and Orangetheory Fitness.
Cedar Park, Texas — Black Rock Coffee Bar will open a 2,000-square-foot café this week in Cedar Park, roughly 20 miles northwest of Austin. Founded in 2008, the boutique coffee chain now features 115 stores throughout the country.
Greenville, S.C. — Three new-to-market entertainment concepts have signed leases at the $1 billion mixed-use redevelopment of Greenville County Square currently underway in Greenville. Pins Mechanical will open a 24,366-square-foot space, and Fairway Social and Agave Bandido will occupy 9,100 and 7,000 square feet at the development, respectively. RocaPoint Partners is the landlord and developer.
San Diego — Kilroy Realty Corp. (NYSE: KRC), an office, mixed-use and life sciences REIT based in Los Angeles, has obtained a $375 million loan for a portion of One Paseo, a mixed-use campus in San Diego. New York Life Insurance Co. provided the 11-year, non-recourse loan, which features a fixed 5.9 percent interest rate. The loan matures in August 2034. The 36-acre property is situated between the city’s Carmel Valley neighborhood and Del Mar, as well as near I-5 and State Route 56. One Paseo is home to tenants including …
Las Vegas —Bojangles has signed a development agreement for 20 new restaurants in Las Vegas, as well restaurants within 10 TravelCenters of America franchise locations. TravelCenters of America franchisee LVP Restaurant Group LLC, an entity of LV Petroleum, and its investment partner, Kingsbarn Realty Capital, will lead the projects. In partnership with LVP Restaurant Group, Kingsbarn will identify and acquire properties suitable for the new Bojangles developments. In July, Bojangles launched its expansion strategy, including a streamlined menu, new building design and new staffing model.
Los Angeles — Lazy Acres Natural Market has opened a 31,000-square-foot store in the Los Feliz neighborhood of Los Angeles, marking the sixth location for the brand. Landlord CGI+ Real Estate Investment Strategies developed the space after purchasing three adjacent properties, one of which was home to a 23,000-square-foot Rite Aid, in separate transactions. CGI+ reduced the existing building to its shell and core and rebuilt the structure with 8,500 square feet of new construction and added a parking lot. Lazy Acres offers natural and organic groceries, a bakery, coffee and …