Indio, Calif. —Faris Lee Investments has arranged the sale of two retail strip centers — Rubidoux Plaza and South Rubidoux — in Indio. The properties sold for a combined total of $4.6 million. Totaling nearly 20,000 square feet, the retail centers are located along California Highway 111 and serve the entire Coachella Valley area. Tom Chichester of Faris Lee Investments represented the seller in the transactions. The names of the seller and buyers were not released.
Vernon Hills and Aurora, Ill. —Centennial has unveiled its new placemaking concepts at two malls in Illinois — Hawthorn Mall in Vernon Hills and Fox Valley Mall in Aurora. Centennial will transform the malls’ center courts into a multi-use environment that will enhance consumer experience. Centennial will invest $12 million into the courtyards, which total 31,115 square feet. The new courtyards will be surrounded by dining and entertainment options. The design team includes architect Stantec and general contractor Graycor Construction Co. A timeline for construction was not released.
Burleson, Texas — Venture Commercial has negotiated the sale of McAlister Square, a 169,378-square-foot shopping center located in Burleson, Texas, a southern suburb of Fort Worth. Anchored by Academy Sports + Outdoors, the property’s tenant roster includes national retailers like FedEx Office, Verizon Wireless and Firehouse Subs. Jonathan Cooper, John Zikos and Don Miller of Venture Commercial represented the seller in the transaction. Kevin McIntosh of KMAC Group Inc. represented the buyer. Both parties requested anonymity.
Livingston, N.J. — Eastman Cos. has refinanced The Shoppes at Livingston Circle, a 95,809-square-foot retail center in Livingston, New Jersey, an eastern suburb of Newark. Built in 1993 and anchored by German discount grocer Aldi, the property was 80 percent leased at the time of sale to tenants such as Olive Garden, Goldfish Swim and Club Pilates. Jon Mikula and Jim Cadranell of HFF placed the loan, which features a 12-year term and a fixed interest rate, on behalf of Eastman. The lender was not disclosed.
West Palm Beach, Fla. — New England Development has signed Kate Spade New York, Coach and Stuart Weitzman to leases at Palm Beach Outlets in West Palm Beach, Florida. Stuart Weitzman opened April 5 and Kate Spade and Coach are scheduled to open later this year. Palm Beach Outlets features more than 100 retailers, including Saks Fifth Avenue OFF 5TH, Ann Taylor Factory Store, Banana Republic Factory Store, Brooks Brothers Factory Store, Calvin Klein, Cole Haan Outlet, GUESS Factory, J.Crew Factory|crewcuts, Nautica, Nike Factory Store, Polo Ralph Lauren Factory Store, …
Chesterfield, Mo. — Mid-America Real Estate Corp. and Pace Properties have negotiated the sale of Chesterfield Valley Square in Chesterfield, 20 miles west of St. Louis, for an undisclosed price. The 53,928-square-foot retail center is fully occupied. Tenants include Sherwin Williams, U.S. Bank, Bar Louie, Athletico and Oishi Sushi & Steakhouse. Ben Wineman of Mid-America and Scott Seyfried of Pace represented the seller, a St. Louis-based private investor. The Staenberg Group purchased the asset.
Indio, Calif. — Marcus & Millichap has arranged the sale of a retail property, located at 82360 U.S. Highway 111 in Indio. An individual/personal trust acquired the 9,888-square-foot property for $2.1 million at a 6.7 percent capitalization rate. Edwin Mariscal of Marcus & Millichap’s Ontario, California, office represented the buyer in the deal.
Towson, Md. — Developers Greenberg Gibbons and Caves Valley Partners have signed Whole Foods Market to anchor the retail component of Towson Row, a $350 million mixed-use development in downtown Towson, Maryland. Whole Foods will occupy 45,000 square feet and include a 6,200-square-foot mezzanine and outdoor dining terrace. Construction on the store is expected to begin this winter and take 18 months to complete. Amenities will include a two-story parking deck and covered walkways leading to the store. Towson Row is currently under construction on a five-acre site, 10 miles north …
Greenville, S.C. — Topgolf opened its 50th venue in the U.S. this past Friday in Greenville, South Carolina. The three-tier, 55,000-square-foot driving range and bar is located at 201 Clifton Court, 10 miles from downtown Greenville and directly off Interstate 85. The new Topgolf features a chef-driven menu, top-shelf drinks, big screen TVs, flexible private event spaces and music in climate-controlled hitting bays. More than 350 full- and part-time employees were hired in advance of the opening. The new Topgolf will host a summer academy for children ages 6 through …
Burbank, Calif. — SBH Real Estate Group has completed the disposition of a 14,000-square-foot retail property occupied by Harbor Freight Tools in Burbank, California. SBH originally purchased the property in the first quarter of 2018 and proceeded to renovate and improve the building. Renovations included a new roof, updated electrical and lighting systems, new restrooms and a new HVAC system. A private investor acquired the property for $7.8 million. Adam Friedlander and Kien Tsoi of JLL represented the seller, while Jeff Gerlach from CBRE represented the buyer in the deal.
