Huntington Plaza in Monrovia, Calif., sells to private buyer
Los Angeles — A private buyer has acquired Huntington Plaza, a 57,148-sq.-ft. shopping center in Monrovia, Calif., in the San Gabriel Valley. Anchored by Sprouts Farmers Market and Walgreens, the center was 96% leased at the time of the sale. The tenant roster includes McDonald’s, Jersey Mikes, Flame Broiler, Great Clips and Pacific Dental.
The owner engaged Studley and Colliers International to offer the property for sale. The two companies have jointly handled the leasing of Huntington Plaza for more than six years.
Studley and Colliers initiated an accelerated two-week marketing campaign in order to meet the seller’s specific timing requirements without sacrificing pricing thresholds. The effort brought in 19 offers, representing both private and institutional buyers. Real Estate Po0rfolio Specialists represented the successful buyer.
Trademark to manage and lease Highland Village, Texas, Center
Fort Worth, Texas — Trademark Property Co. will oversee management, retail leasing and redevelopment analysis for The Shops at Highland Village, a 351,631-sq.-ft. open-air retail center in Highland Village, Texas, serving affluent communities in southern Denton County.
Owned by AEW Capital Management, the center features more than 70 specialty shops and restaurants, including AMC Theatres and the newly opened Grimaldi’s Coal Brick-Oven Pizzeria and Luke’s Locker. In addition, a 38,000-sq.-ft. Whole Foods Market, currently under development, plans to open in third quarter 2014.
Dunkin’ Donuts plans 46 new restaurants in California
Canton, Mass. — Dunkin’ Donuts has signed a multi-unit store development agreement with Sizzling Donuts, an existing franchise group, for 46 new restaurants throughout the greater Sacramento, Calif., metro area and the surrounding cities of Stockton, Modesto, Tracy, Manteca, Placerville and Davis.
Over the past year, Sizzling Donuts has signed multi-unit store development agreements to develop more than 60 new Dunkin’ Donuts restaurant throughout Northern Utah, Denver, Colorado and Texas. The group currently operates 17 Dunkin’ Donuts restaurants in these markets.
Since opening California for franchise development last year, the company has executed store development agreements for more than 150 new free-standing restaurants. Franchise opportunities remain available throughout Northern California and portions of Southern California. Over time, plans call for as many as 1,000 restaurants throughout the state.
In an effort to keep the brand fresh and competitive, Dunkin’ Donuts offers flexible concepts for any real estate format including free-standing restaurants, end caps, in-line sites, gas and convenience, travel plazas, universities, as well as other retail environments.
Dunkin’ Donuts’ new look includes four distinct restaurant design options for franchisees, each featuring variations in layout, color schemes, graphics, textures, furniture and lighting. The designs enhance the current restaurant appearance, environment and layout.
Unlike other quick-service restaurants, Dunkin’ Donuts allows franchisees to select individual elements from any of the four options, creating a restaurant design that reflects personal tastes and preferences, and best serves a specific restaurant size and location.