Gander Mountain to Bayport Commons in Oldsmar, Fla.
New York — Kite Realty Group has signed Gander Mountain into a 30,045-sq.-ft. space at Bayport Commons in Oldsmar, Fla., a northwest suburb of Tampa. CBRE represented Gander Mountain in the transaction.
A Super Target, Michaels and PetSmart. Anchor the 276,918-sq.-ft. center. About 64,400 people live within a three-mile radius of the center. The estimated average household income is $71,200.
Deer Grove in Palatine, Ill., bought for $20 million
Chicago — Transwestern’s Chicago office has brokered the sale of the 236,173-sq.-ft. Deer Grove Shopping Centre in Palatine, Ill., to Ramco Gershenson for $20 million. Transwestern www.transwestern.net represented the seller, C-III Asset Management.
The property is anchored by Dominick’s, a Chicago-based grocer, and national tenants including TJ Maxx/Home Goods, Petco and Staples. A Target and Home Depot shadow anchor the property.
The property was 81% leased at the time of the sale, including the newly executed TJ Maxx/Home Goods lease. The national retail chain is expected to improve traffic at the property and increase future leasing prospects.
H&M, Uncle Buck’s to anchor Destin Commons expansion
Destin, Fla. — H&M and Uncle Buck’s Fish Bowl & Grill will anchor a 100,000-sq.-ft. expansion of Destin Commons slated to open in mid-2014.
Construction is underway on the 20,000-sq.-ft H&M store, the first H&M in northwest Florida.
Uncle Buck’s, a concept by Bass Pro Shops, will offer casual dining and 16 lanes of bowling. Uncle Buck’s has also taken 20,000 sq. ft.
The expansion will include about 20 additional stores and restaurants.
The mixed-use property is set on 56 acres and currently includes more than 70 stores and restaurants. Major national retailers include Bass Pro Shops and Belk. The AMC Destin 14-screen stadium movie theatre, Pirate’s Cove children’s soft play area and a fountain provide the entertainment. The development also offers 70,000 sq. ft. of Class A office space.