Geneva, Ill. — Mid-America Real Estate Corp. has brokered the sale of Randall Square, a 226,029-square-foot shopping center located in Geneva, a western suburb of Chicago. Tenants at the property include Marshalls, Michaels, Ulta Beauty, Old Navy, PetSmart and Men’s Wearhouse. Joe Girardi, Rick Drogosz and Ben Wineman of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. Viking Partners was the buyer. Pine Tree managed the property on behalf of the seller.
Sandusky, Ohio and Arlington, Texas —Sandusky-based Cedar Fair Entertainment Co. (NYSE: FUN) and Arlington-based Six Flags Entertainment Corp. (NYSE: SIX) have entered into a definitive merger agreement to combine in a merger of equals transaction. The all-stock deal values the combined company at approximately $8 billion, including debt. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cedar Fair investors will receive one share of common stock for each unit they own, and Six Flags shareholders will receive .58 shares for …
Wilmington, Del. — JLL Capital Markets has arranged the sale of Christina Crossing, a 119,446-square-foot shopping center located in Wilmington. ShopRite anchors the property. Christopher Munley, Jim Galbally, Chris Angelone, Colin Behr, James Graf, Zach Nitsche, Patrick Higgins and Blaise Fletcher of JLL represented the seller, DRA and KPR. First National Realty Partners acquired the center for an undisclosed price.
St. Petersburg, Fla. — Florida-based developer and founder of The Sembler Co. Mel Sembler has passed away at the age of 93, according to a statement from the company. Sembler founded his eponymous real estate company in 1962. To date, it has completed more than 350 developments totaling 29 million square feet. Additionally, the company manages and leases 10 million square feet of real estate and has offices in St. Petersburg, Florida, Atlanta and Puerto Rico. Currently, The Sembler Co.’s portfolio includes Belmont Shopping Center in Ruskin, Florida, and North Macon …
Houston — Activate, an interactive indoor gaming experience, has opened a 9,600-square-foot venue in Houston. Situated within the Katy Fry Center, the space features 11 activity rooms with more than 500 different games and difficulty levels. The brand, which is designed for adult participants, currently has seven additional centers in Atlanta; Chicago; Dallas; Gatlinburg, Tennessee; American Dream, New Jersey; and Louisville and Lexington, Kentucky. Additional venues are scheduled to open this year, including in Birmingham, Alabama.
Costa Mesa, Calif. — Continental Realty Corp. has acquired South Coast Collection, a 292,000-square-foot retail center located in Costa Mesa. Built in 2007, the property was 97 percent leased at the time of sale. Tenants at the center include COCO Republic, Design Within Reach, Roche Bobois, Pirch, Paul Mitchell the School, Brown Jordan, Natuzzi Italia, Room & Board, Arc Food and Libations, Butcher’s House, Greenleaf Kitchen & Cocktails, Moulin, Paragon and Portola Coffee. The center also features The OC Mix, a 15,000-square-foot collection of more of more than 20 retailers and …
Rancho Cucamonga, Calif. — Progressive Real Estate Partners has brokered the $7.5 million sale of a nine-tenant retail building located in Rancho Cucamonga. Situated within Terra Vista Town Center, the 21,918-square-foot property was fully leased at the time of sale. Tenants at the building, which have all signed triple-net leases, include a jeweler, escape room and indoor playground. Greg Bedell and Paul Su of Progressive represented the seller in the transaction.
Hayward, Calif. — Las Montañas Supermarket has opened a 23,334-square-foot store at Creekside Center, an 80,311-square-foot retail center located in Hayward. In addition to a selection of produce, meat, poultry and seafood, the store features a taqueria. Other tenants at Creekside Center include The King Mattress and Furniture II, Supernails, Cricket Wireless, Rent-A-Center, Papa John’s, Subway and Carl’s Jr.
New York City — Two retail tenants have signed leases at 540 Madison, a 292,000-square-foot office tower located in New York City. Bang & Olufsen and H.Stern will occupy 1,557 and 1,450 square feet, respectively. Grand Seiko is also a tenant within the 9,266-square-foot retail portion of the property, which formerly housed a bank branch. The new leases bring the retail space to full occupancy. Ariel Schuster and Mitch Heifetz of Newmark represented the landlord, DivcoWest, in the lease negotiations.
Baltimore — Always Ice Cream Co. will open a 1,135-square-foot shop within The Village of Cross Keys, a retail center located in Baltimore. Scheduled to open next spring, the shop will be located between Atlas Restaurant Group’s Asian restaurant and The Cordish Co.’s Cece’s Roland Park. Caves Valley Partners is the landlord at the property.
