Houston — Baker Katz has arranged the sale of a 60,935-square-foot retail building in Houston that was formerly occupied by Star Furniture. The building sits on 2.4 acres at 7111 FM 1960 on the city’s northwest side and includes showroom space. Jason Baker and Ben Brown of Baker Katz represented the seller, Power Squared Group, in the transaction. Brian Ashby of CBRE represented the buyer, Bel Furniture.
Lexington, Ky. — SVN | Stone Commercial Real Estate has brokered the $17.4 million sale of Mist Lake Plaza, a 217,292-square-foot shopping center in Lexington. Matt Stone, Justin Ryder and Nathan Dilly of SVN | Stone represented the seller, DF Lexington Properties LLC. Jim Powell of The Gibson Co. represented the buyer, S & P Holdings LLC. The center will be the future home of Lexington Motorsports, a motorcycle dealer set to occupy about 125,442 square feet of the facility. The center was 89 percent occupied at the time of …
Houston — Puttshack, an entertainment concept that combines tech-infused minigolf with food and beverage offerings, will open a new 26,000-square-foot venue at The Shops at Houston Center in the city’s downtown area. Puttshack recently opened its first venue in Atlanta and has plans to open additional facilities in Chicago, Miami, Boston and Nashville. The opening of the Houston facility is slated for late 2022. Brookfield Properties owns The Shops at Houston Center in partnership with Spear Street Capital.
Carrollton, Ga. — Avison Young has brokered the $4.9 million sale of a 12,961-square-foot single-tenant retail property occupied by CVS/pharmacy at 2125 Maple St. in Carrollton. Chris Maling and David Maling of Avison Young represented the buyer, Laguna Monarch Group Inc., in the transaction. Cushman & Wakefield represented the seller, an undisclosed private equity group. CVS/pharmacy has occupied the site since 2006 and has 19 years remaining on its triple net lease.
Orland Park, Ill. — Adelphia Properties has brokered the sale of a 7,365-square-foot retail center in Orland Park, a suburb of Chicago. The building is located at 15845 S Harlem Ave. and was 17 percent occupied at time of sale. George Spirrison and Simeon Spirrison of Adelphia Properties represented the undisclosed seller in the disposition of the property. Both the buyer and seller in the transaction are based in Chicago.
Doral, Fla. — General contractor FRONTIER Building has completed the redevelopment of two retail properties totaling 62,000 square feet in Doral. The buildings were formerly occupied by Toys “R” Us and Babies “R” Us. The project included renovations to the existing exterior façades and interior build-outs at both stores, which will now be occupied by Burlington and Total Wine & More.
Aurora and Lombard, Ill. — Old Second Bancorp Inc. and West Suburban Bancorp Inc. have signed a definitive merger agreement under which Aurora-based Old Second will acquire Lombard-based West Suburban in a cash and stock transaction valued at $297 million. Under the terms of the merger agreement, which was unanimously approved by the boards of directors of both companies, Old Second will pay 65 percent of the purchase price in stock and the remainder in cash. According to a news release, the merged company will have approximately $6.2 billion in …
Cleveland — DealPoint Merrill has completed its purchase of the former Richmond Town Square regional mall in Cleveland. Built in 1966, the mall was home to over 90 stores until its closure in 2021. DealPoint plans to redevelop the site into Belle Oaks Marketplace, a $200 million mixed-use development. The 1.6 million-square-foot project is set to include 40,000 square feet of restaurants; an outdoor community entertainment venue; 791 Class-A apartment units; 315,000 square feet of grocery and retail stores; and an 80,000-square-foot renovated Regal Cinema theater complex. Construction is expected …
Fort Myers, Fla. — Marcus & Millichap has arranged the $5.7 million sale of Shops at Jamaica Bay, a 21,080-square-foot multi-tenant retail center located in Fort Myers. Jim Shiebler, James Medefind and James Garner of Marcus & Millichap represented the seller and the buyer in the transaction, both of which were limited liability companies. Built in 2007, the center is fully occupied by tenants such as AT&T and Allstate insurance.
Thousand Oaks, Calif. — Five Below is set to open a new location at Janss Marketplace, a 458,000-square-foot shopping center located in Thousand Oaks. Construction on the store began this month and opening is targeted for October of this year. NewMark Merrill brokered the leasing transaction. Janss Marketplace is also home to tenants including ALDI Grocers, Regal Cinemas, DEFY Extreme Air Sports, Old Navy, Starbucks Coffee, Buca di Beppo and Gold’s Gym.