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Icon-Central
FloridaInvestment salesNews

Tricera Capital Purchases ICON Central Retail Space in St. Petersburg for $11.1 Million

by Katie Sloan

St. Petersburg, Fla. — Tricera Capital has acquired a ground-floor retail space at Related Group’s recently completed ICON Central, a mixed-use development in St. Petersburg. The transaction totaled $11.1 million and included the adjoining Union Trust Bank building. In total, the ground-floor retail space and historic bank building span nearly 35,000 square feet of rentable space. Related Group was the seller. Currently, about 7,000 square feet of the retail space is leased to BurgerFi and Watts Dental, which are open now. Scott Wadler and Alec Fox of Berkadia secured $9.9 …

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Elmhurst-Restaurant
IllinoisInvestment salesNews

Adelphia Arranges Sale of Two Restaurant Properties in Metro Chicago

by Katie Sloan

Elmhurst and Crystal Lake, Ill. — Adelphia Properties has arranged the sale of two restaurant properties in metro Chicago. Dispositions include a 5,000-square-foot restaurant building formerly occupied by Elmhurst Family Restaurant in the Chicago suburb of Elmhurst; and a 4,500-square-foot vacant freestanding building located at 394 W. Virgin St. in Crystal Lake. George Spirrison and Simeon Spirrison of Adelphia Properties represented the sellers in each transaction, both of which were local investors. Terms of the transactions were undisclosed. 

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Windward-Square
GeorgiaInvestment salesNews

Stan Johnson Co. Brokers $3.2 Million Sale of Windward Square Shopping Center in Metro Atlanta

by Katie Sloan

Alpharetta, Ga. — Stan Johnson Co. has brokered the sale of Windward Square, a 11,166-square-foot shopping center located at 5215 Windward Parkway in the northern Atlanta suburb of Alpharetta. Jeff Enck of Stan Johnson Co. represented the 1031 exchange buyers, a group of private investors based in Georgia. Penn Hodge Properties sold the property for more than $3.2 million. Windward Square was fully leased to six tenants at the time of sale, including Verizon Wireless and Eye Level Learning Center. Originally constructed in 2003, the center is shadow-anchored by Costco and has other …

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Investment salesNewsTexas

Baker Katz Arranges Sale of 60,935-Square-Foot Former Star Furniture Retail Building in Houston

by Katie Sloan

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.

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Mist Lake Plaza
Investment salesKentuckyNews

SVN | Stone Secures $17.4 Million Sale of Mist Lake Plaza Shopping Center in Lexington, Kentucky

by Julia Sanders

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 …

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Puttshack
LeasingNewsTexas

PuttShack to Open 26,000-Square-Foot Minigolf Course, Restaurant in Downtown Houston

by Julia Sanders

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.

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CVS
GeorgiaInvestment salesNews

Avison Young Brokers $4.9 Million Sale of CVS-Occupied Property in Carrollton, Georgia

by Julia Sanders

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.

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Orland Park
IllinoisInvestment salesNews

Adelphia Properties Brokers Sale of 7,365-Square-Foot Retail Center in Suburban Chicago

by Julia Sanders

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.

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Burlington
DevelopmentFloridaNews

FRONTIER Building Completes Redevelopment of Two Retail Properties in Doral, Florida

by Julia Sanders

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.

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Company newsIllinoisNews

Old Second to Acquire West Suburban Bank for $297 Million

by Julia Sanders

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 …

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