Bell, Calif. — NAI Capital Commercial has arranged the purchase of Atlantic Center Mini Mall, a 20,909-square-foot retail center located in Bell, roughly 10 miles outside Los Angeles. Steven Weiss and Sam Kangavari of NAI represented the buyer, a private investor, in the transaction. The buyer plans to redevelop the property, converting it to a single-tenant retail building, and the NAI team also negotiated a new lease with a national tenant.
Miami — Club Studio, a fitness retail concept and part of Fitness International LLC, has signed a 38,400-square-foot lease at Grove Central, a mixed-use development underway in Miami’s Coconut Grove neighborhood. A joint venture between Miami-based developers Terra and Grass River Property is developing Grove Central, which is expected to open in 2024. In addition to a residential tower and parking garage, the development will feature approximately 170,000 square feet of neighborhood-oriented retail space. Other retailers committed at the project include Target, Sprouts Farmers Market, Total Wine and Five Below.
Stephenville, Texas — Partners Real Estate has negotiated the sale of a 10,200-square-foot retail property in Stephenville, about 70 miles southwest of Fort Worth. The property was fully leased to Family Dollar at the time of sale. Landan Dory of Partners represented the buyer, private investor Perry Lewis, in the transaction. Craig Fuller of Marcus & Millichap represented the undisclosed seller.
Lake Forest, Calif. — La Caze Development has sold Lake Forest Marketplace, a 111,212-square-foot shopping center located in Lake Forest, for $14.2 million. John Redfield of SRS Real Estate Partners’ Investment Property Group arranged the transaction on behalf of the seller. Jon Davis of SVN represented the buyer, a private investor. Situated on 10 acres, the property was fully occupied at the time of sale. Tenants include 99 Cents Only, Guitar Center, Island Pacific, Harbor Freight Tools, Bank of America, Del Taco and Dunkin’ Donuts.
Somerset, N.J. — Marcus & Millichap has brokered the $7 million sale of a gas station and convenience store property occupied by QuickChek in the Northern New Jersey community of Somerset. Matthew Klang and Michael Tuccillo of Marcus & Millichap represented the undisclosed seller and developer in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
Fort Worth, Texas — SRS Real Estate Partners has arranged the $6.1 million sale of a 13,426-square-foot, single-tenant retail building in Fort Worth that is net leased to CVS/pharmacy. The property was built on 2.3 acres in 2020. Matt McNeill of SRS represented the buyer, a California-based private investor, in the transaction. Thomas Co. represented the undisclosed seller.
San Diego — EarthWise Pet has acquired Loyal Biscuit, a pet supply retailer offering healthy food for dogs and cats. The company has six stores operating in Bath, Belfast, Brewer, Rockport, Rockland and Waterville, Maine. A decision has not yet been made on whether the locations will be rebranded with the EarthWise name. San Diego-based EarthWise has over 150 locations open across the U.S.
New York City — Salon suite company Salons by JC has signed a 25-year lease at One Boerum Place, a 250,000-square-foot mixed-use development located in the Brooklyn borough of New York City. The tenant will occupy 13,316 square feet within the property’s 21,365-square-foot retail space. Michael K. Davis of Compass represented Salons by JC in the lease negotiations. Jeremy Ezra, Peter Whiteneck and Tyler King of Newmark Knight Frank represented the landlord, Avery Hall.
North Richland Hills, Texas — Merlin Entertainments, an operator based in the United Kingdom, will open a theme park in North Richland Hills, a suburb of Fort Worth, dedicated to children’s entertainment character Peppa Pig. The size of the park, which will feature multiple rides, interactive attractions, themed playscapes and shows, was not disclosed. The location, which is next to the NRH2O Family Water Park, formerly housed Mountasia Family Fun Center. The opening is slated for 2024. Merlin Entertainments, which operates facilities for concepts including Legoland and Sea Life Aquariums, …
Houston, Katy and League City, Texas — Gordon Food Service will open six new stores in metro Houston, the first Texas locations for the brand. Gordon Food Service Stores provide food products, including packaged and fresh goods, to restaurant owners and other foodservice professionals. Each store will comprise between 25,000 and 30,000 square feet. Four stores will open in Houston, Katy and League City Mar. 14, with an additional two stores opening in Houston at a later date.
