Deals

Houston - Transwestern has completed the sale of Hannover Commons Shopping Center in Spring, Texas. After leasing the newly constructed 10,020-sq.-ft. shopping center to 100% occupancy, Transwestern represented the seller, Hannover Woods Retail Partners LLC, in the disposition of the asset to a local investor.

Colton, Calif. — The Hodgdon Group, a brokerage, development, construction and project management firm, has converted a former Sam’s Club in Sacramento into a 60,000-sq.-ft/ Burlington Coat Factory.

The new store opened last week. Hodgdon Group Realty and CBRE Sacramento represented the investor in the acquisition of the Sam’s Club building, as well as the landlord in the lease transaction. Retail West Inc. represented Burlington Coat Factory. An additional tenant has leased the remaining space and plans to open soon.

Los Angeles -- Construction has begun on Nadel Architects-designed Juanita Tate Marketplace, a 77,096-sq.-ft. outdoor retail center in South Los Angeles. Owned by Regency Centers, the $21 million development will bring a full-service grocery and retail center to the highly underserved surrounding community.

The center is being designed by Nadel Architects.

New York — Famous Footwear has leased its second Manhattan location at 48-50 West 14th Street between Fifth and Sixth Avenues in Union Square, according to Winick Realty Group. The 7,800-sq.-ft. store is a block-through retail site with 50 feet of frontage on 14th Street and 25 ft. of frontage adjacent to the New School entrance on 13th Street.

Ripco represented Famous Footwear in the transaction. Winick represented the landlord, CB Developers.

Oakbrook Terrace, Ill. — Mid-America Asset Management has announced three new retail leases in Chicago’s northwestern suburbs. Mid-America represented the landlord in each transaction.

Charles Schwab signed a lease for 4,339 sq. ft. at Shops of Uptown in Park Ridge, a northwestern suburb of Chicago. The store is expected to open next spring. The 70,800-sq.-ft. center features Trader Joe’s, Houlihan’s and Jason’s Deli. Colliers International represented the tenant.

Hampstead, Md. – Jos. A. Bank Clothiers Inc. reportedly may consider a hostile takeover bid for Men’s Wearhouse. According to Bloomberg, Jos. A. Bank chairman Robet Wildrick said he would prefer a friendly acquisition but his company is not ruling any options out.

Houston — The Mansour Group has completed the sale of an LA Fitness in Houston for $12 million. The 45,000-sq.-ft. facility is located in Houston’s Memorial Area, the wealthiest neighborhood in the city and the sixth wealthiest zip code in the state.

Mansour www.themansourgroup.com marketed the property on behalf of the seller, a national REIT. The buyer was another institutional REIT.

Covington, La. — Stirling Properties has opened a new office in downtown Mobile, Ala. The company’s first location in the state, the new office joins 11 others located in Louisiana and Mississippi, further strengthening Stirling’s presence in the Gulf South.

“This office will not only serve the surging market and growing economy of Mobile but also anchor the eastern side of the Interstate 10 corridor for Stirling Properties,” said Marty Mayer, Stirling’s president and CEO.